The price of fine gold in Nepal has seen a notable decline, dropping by Rs. 500 per tola, according to the latest report released by the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA).
Fine gold is now valued at Rs. 1,42,200 per tola, marking a Rs. 500 decrease from its previous closing rate of Rs. 1,42,700 per tola. Similarly, Tejabi gold has also experienced a price reduction, standing at Rs. 141,500 per tola, down by Rs. 500 from its closing price of Rs. 1,42,000 per tola the previous day.
This decline contrasts with the recent peak on June 4, 2024, when fine gold reached an all-time high of Rs. 1,42,700 per tola in the Nepali market.
Additionally, the price of silver has also seen a downturn, with a decrease of Rs. 35 per tola. The current market rate for silver stands at Rs. 1,860 per tola, compared to yesterday’s closing rate of Rs. 1,825 per tola.
Both domestic and international markets have witnessed this downward trend in precious metal prices. Globally, the latest update indicates the price of gold at $2,341.30 per ounce, while silver is experiencing negative momentum, with prices reaching $29.70 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.