The gold market in Nepal has witnessed a notable decline, with prices falling sharply by Rs. 1,100 per tola. According to the latest update from the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA), the price of fine gold now stands at Rs. 151,900 per tola, down from the previous rate of Rs. 153,000 per tola.
Tejabi gold, another popular variant, has also seen a decrease of Rs. 1,100, bringing its price to Rs. 151,200 per tola from the earlier closing price of Rs. 152,300 per tola.
This drop in prices comes shortly after fine gold reached a historic high of Rs. 153,000 per tola on August 21, 2024. The recent downturn is not limited to gold; silver prices have also experienced a decline. The current rate for silver is Rs. 1,830 per tola, down by Rs. 5 from the previous day’s price of Rs. 1,835 per tola.
The downward trend in precious metal prices is consistent with global market movements. On the international stage, gold is currently priced at $2,501.40 per ounce, while silver has dropped to $29.38 per ounce.