Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: Gold prices in Nepal witnessed a sharp decline on Sunday, falling by Rs 12,500 per tola in a single day.
According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of gold has been fixed at Rs 282,000 per tola, down from Rs 294,500 recorded the previous day.
The yellow metal has seen a steep correction over the past week, dropping by Rs 27,400 per tola from Rs 309,400 last Sunday. Gold had previously reached an all-time high of Rs 339,300 per tola on Magh 15.
Silver prices also declined on Sunday, falling by Rs 355 per tola to Rs 4,540, compared to Rs 4,895 a day earlier. Over the past week, silver prices have dropped by Rs 730 per tola.
Analysts attribute the decline to global market pressures, including rising oil prices, increased demand for the US dollar, and tightening monetary policies worldwide, which have collectively put downward pressure on precious metals.
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