Himal Press 
Representative Image (Photo: Pexels)
KATHMANDU: Gold and silver prices fell by Rs 6,900 per tola (11.664 grams) in the domestic market on Sunday.
According to the Federation of Nepal Gold and Silver Dealers’ Associations, the price of hallmark gold fell from Rs 249,700 on Friday to Rs 242,800 on Sunday.
Silver also saw a decline, with the price dropping from Rs 3,285 per tola on Friday to Rs 3,135 on Sunday.
Gold prices have retreated in the domestic market after hitting a record high of Rs 258,000 on October 17 in line with international price movement.
Since Nepal relies entirely on imports to meet its domestic gold demand, any change in the international gold price is reflected in the domestic market. Global gold prices fell on Friday amid a broader market sell-off. According to Reuters, spot gold dropped 1.9% to $4,092.72 per ounce, falling more than 3% earlier in the session.
