Gold prices fall sharply in Nepal; silver also slumps

KATHMANDU: The continuous upward trend in gold prices came to a halt on Tuesday, as both gold and silver saw significant declines in the Nepali market.

According to the Nepal Gold and Silver Traders’ Association, the price of Chaapawal gold dropped by Rs 7,900 per tola compared to Monday.

As a result, gold is now trading at Rs 262,100 per tola, down from Rs 270,000 per tola on Monday.

Silver prices also fell, with per tola rates decreasing by Rs 305 to Rs 4,590, compared to Monday’s Rs 4,895 per tola.

Similarly, the price of 10 grams of gold declined to Rs 224,710, while 10 grams of silver is now priced at Rs 3,935, the association reported.