Himal Press 
Photo created using AI
KATHMANDU: The price of gold in the Nepali market fell by Rs 3,800 per tola (11.664 grams) on Tuesday, taking its total decline over the past two days to Rs 8,800.
According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of fine gold dropped to Rs 290,500 per tola on Tuesday. It had fallen by Rs 5,000 on Monday to Rs 295,300 per tola.
Gold was priced at Rs 299,300 per tola on Sunday after rising Rs 700.
The latest decline came amid a sharp fall in international gold prices. According to Reuters, spot gold fell 4% on Monday to a more than seven-week low of $4,110.55 per ounce before settling at $4,136.81. Analysts have attributed the decline to rising oil prices, which fueled inflation concerns and strengthened expectations of tighter US monetary policy, it added.
Gold prices in Nepal are closely linked to movements in the international market because the country meets its domestic demand through imports.
The price of silver also continued to decline. It fell Rs 115 per tola on Tuesday to Rs 4,395. Silver had dropped Rs 145 on Monday to Rs 4,510.
Silver was priced at Rs 4,655 per tola on Sunday after rising Rs 35.
