Gold price down by Rs 4,800 per tola

KATHMANDU: Gold prices in the domestic market have fallen by Rs 4,800 per tola (11.664 grams). According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal will be traded at Rs 309,400 per tola on Sunday.

The decline marks a continuous decline in recent days, with gold prices dropping by Rs 7,600 per tola over the past five trading sessions. Gold was traded at Rs 317,000 per tola on March 10 before rising to Rs 319,000 on March 11. The price then fell to Rs 317,000 on March 12 and further to Rs 314,200 on March 13, before dropping to Rs 309,400 on March 15.

Silver prices also declined by Rs 225 per tola to Rs 5,270 on Sunday.

In the international market, gold prices slipped on Friday and were on track for a second consecutive weekly decline, pressured by a stronger US dollar and inflation concerns linked to the Iran war, according to Reuters.

As Nepal meets its entire gold demand through imports, fluctuations in international prices are directly reflected in the domestic market.