Gold dips after reaching historic high, silver prices rise

KATHMANDU: Gold prices fell on Tuesday after hitting a historic peak on Monday.

The continuous upward trend in the gold market was halted within 24 hours of setting the new record.

According to the Nepal Gold and Silver Traders’ Association, gold dropped by Rs 1,700 per tola on Tuesday.

The rate for today has been fixed at Rs 259,000 per tola for standard gold. On Monday, gold had traded at an all-time high of Rs 260,700 per tola.

While gold prices declined, silver saw a rise. The association has set silver rates at Rs 3,885 per tola on Tuesday, up by Rs 15 from Monday’s Rs 3,870 per tola.

Last Friday, silver had briefly reached its highest-ever rate of Rs 3,905 per tola.