The gold market in Nepal has experienced a significant drop, with prices decreasing by Rs. 2,300 per tola. According to the latest report from the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA), the price of fine gold is now Rs. 147,700 per tola, a substantial decline from its previous closing rate of Rs. 150,000 per tola.
Similarly, Tejabi gold has also seen a reduction in price, now standing at Rs. 147,000 per tola, down by Rs. 2,300 from the previous day’s rate of Rs. 149,300 per tola.
This drop in prices comes after the recent peak on August 5, 2024, when fine gold reached an all-time high of Rs. 150,000 per tola.
In addition to gold, silver prices have also decreased, with a reduction of Rs. 60 per tola. The current market rate for silver is Rs. 1,725 per tola, compared to yesterday’s closing rate of Rs. 1,785 per tola.
This downward trend in prices is being observed in both domestic and international markets. Globally, the latest update shows the price of gold at $2,407.80 per ounce, while silver is experiencing negative momentum, with prices reaching $27.16 per ounce.