Kathmandu: The prices of precious metals in the Nepali market have seen a substantial decline today, continuing a recent downward trend. According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of gold plunged by Rs 8,200 per tola, while silver also saw a notable decrease of Rs 335 per tola.
These adjustments bring the current market rate for gold to Rs 300,800 per tola and silver to Rs 4,895 per tola.
The sharp drop is particularly evident when compared to the rates at the end of last week. On Friday, gold was trading at Rs 309,000 per tola, and silver was priced at Rs 5,230 per tola. The sudden shift represents a significant relief for consumers, following a period of relatively high prices in the domestic jewellery market.
This domestic price correction is closely tied to fluctuations in the global economy. International news agencies report that gold is currently trading at approximately USD 4,500 per ounce. Similarly, the “white metal,” silver, is trading at USD 77 per ounce in the international market, exerting direct downward pressure on the rates established for the Nepali trading day.
Comment Here