Himal Press 
KATHMANDU: Gold and silver prices continued their downward trend in the domestic market on Monday, with both precious metals recording further declines.
According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of hallmark gold fell by Rs 6,500 per tola (11.664 grams) to Rs 275,500. Silver also dropped by Rs 115 per tola, bringing its price down to Rs 4,425. On Sunday, gold was traded at Rs 282,000 per tola
Over the past five trading sessions, gold prices have declined by 10.46%.
Gold prices have also weakened in the international market. The yellow metal was trading at around $4,366.94 per ounce during early trading on Monday, hovering near a four-month low, according to Reuters. The decline comes amid rising inflation concerns linked to the escalating Gulf conflict, coupled with the strengthening US dollar, which has subdued gold demand.
Gold prices have been on a steady decline since the first week of March. On March 1, gold was priced at Rs 320,500 per tola. It climbed to Rs 326,100 on March 2 and Rs 328,600 on March 3 before falling to Rs 317,600 the following day.
Prices remained relatively stable until the second week of March, but soon resumed their downward trend. Gold fell to Rs 309,500 on March 15 and Rs 302,300 on March 19 and dropped further to Rs 294,500 on March 20.
As Nepal depends entirely on imports to meet domestic gold demand, changes in international prices are directly reflected in the local market.
