Gold price falls by Rs. 2,200 per tola

By A Staff Reporter,Kathmandu, Apr. 15: The price of gold and silver which has been setting new records one after another in the domestic market for the past few days, has decreased on Sunday. 

The gold price that had made the new record in the domestic market on Friday dropped by Rs. 2,200 per tola on Sunday, according to the Federation of Nepal Gold and Silver Dealers’ Association.  

Similarly, the price of silver has also decreased by Rs. 50 per tola. The prices of gold and silver have decreased in the very first trading day of the Nepali new year 2081 B.S.

The price of gold has decreased by Rs. 2,200 per tola (11.66 grams) today and was traded at Rs. 136,800 per tola. Gold was traded at Rs. 139,000 per tola on Friday. It was the highest price of gold ever recorded in Nepal.

Similarly, the price of silver has also decreased to Rs. 1,700 per tola in the local market on Sunday as compared to Friday’s price.  

With the significant fluctuation, the price of gold increased by Rs. 21,000 per tola in the local market within one and a half months. A tola of gold was traded at Rs. 118,000 per tola on February 18, 2024.

A significant decline in the gold and silver price in the international market has resulted in the decrease in their price in the local market on Sunday, said Tej Ratna Shakya, a gold trader.

The price of gold increased by USD 43 per ounce to 2,343 in the international market today, he said. He said that although the price of gold has decreased today, it is not certain that the price of gold will decrease further as the price of gold has been fluctuating significantly in the international market for a few weeks.

According to Shakya, the international analysers have predicted the gold price will cross USD 2,500 per ounce in the international market by end of 2024.