Gold price drops by Rs 11,600 per tola after Tihar festival – The Himalayan Times – Nepal’s No.1 English Daily Newspaper
Silver also declines as international market sees downturn
KATHMANDU, OCTOBER 26
The price of gold has declined sharply in the domestic market on Sunday following a drop in international precious metal rates.
According to the Federation of Nepal Gold and Silver Dealers’ Association, the market that reopened after the Tihar festival recorded a fall of Rs 11,600 per tola in fine gold. Gold, which was traded at Rs 253,500 per tola on Kartik 3 before the holiday closure, is now being traded at Rs 241,900 per tola.
Similarly, the price of silver also dropped by Rs 265 per tola. Silver, previously traded at Rs 3,280 per tola, is now priced at Rs 3,015 per tola.
In the international market, gold is currently being traded at USD 4,113 per ounce, while silver stands at USD 48 per ounce.
The recent fall in prices had already begun in global markets, but its impact was reflected in Nepal only after the reopening of the gold and silver market post-festivities.
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