The gold and silver market in Nepal has experienced a further decline in prices, according to the latest report from the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA).
Fine gold is currently valued at Rs. 1,41,200 per tola, marking a decrease of Rs. 400 from its previous rate of Rs. 1,41,600 per tola. Similarly, Tejabi gold has also seen a price reduction, now standing at Rs. 1,40,500 per tola, down by Rs. 400 from its previous price of Rs. 1,40,900 per tola.
This decline comes after a recent peak on June 7, 2024, when fine gold reached an all-time high of Rs. 1,45,000 per tola in the Nepali market.
Additionally, the price of silver has decreased by Rs. 10 per tola. The current market rate for silver is Rs. 1,800 per tola, compared to the previous day’s rate of Rs. 1,810 per tola.
Both domestic and international markets are reflecting this downward trend in precious metal prices. Globally, gold is priced at $2,309.80 per ounce, while silver is experiencing negative momentum, with prices at $29.01 per ounce.
The fluctuations in gold and silver prices are closely watched by investors, traders, and consumers alike, as they navigate the dynamics of the bullion market and make informed decisions regarding their investments and purchases.