Gold price plummets in Nepal

KATHMANDU: The price of gold in the Nepali market saw a sharp decline on Monday, ending the recent upward trend.

According to the Nepal Gold and Silver Traders’ Association, the rate of per tola gold fell by Rs 13,400, bringing the market price to Rs 286,600 per tola.

Gold had reached a peak of Rs 300,000 per tola on Friday.

Silver also experienced a drop, with per tola rates falling from Rs 5,500 on Friday to Rs 5,200 on Monday.

Under the new price list, 10 grams of gold is now valued at Rs 245,715, while 10 grams of silver is trading at Rs 4,458.

Traders attribute the decline to fluctuations in the international market.