Gold and silver prices have witnessed a sharp decline today.
After setting new records with daily price increases, the prices of gold and silver have fallen by the largest margin recorded so far.
According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of gold has dropped by Rs 20,500 per tola today.
With the decline, gold is now being traded at Rs 318,800 per tola.
On Thursday, the price of gold had increased by Rs 20,500 per tola to reach Rs 339,300, which was the highest price ever recorded. The amount by which the price increased yesterday has been completely offset by today’s decline.
On Wednesday, the price of gold had risen by Rs 9,500 per tola to reach Rs 318,800.
Over the past week, gold prices had increased by Rs 57,500 per tola before falling today.
Last Tuesday, the price of gold rose by Rs 300 per tola to Rs 309,300. On Monday, it increased by Rs 5,200 per tola, while on Sunday and the previous Friday, prices rose by Rs 2,400 and Rs 9,200 per tola respectively.
In the previous week, gold prices jumped by Rs 10,400 in a single day on Wednesday, before falling by Rs 2,900 per tola on Thursday. After rising continuously since then, gold prices have seen a sharp correction today.
Silver prices have also dropped significantly today.
The price of silver fell by Rs 440 per tola to Rs 7,065 today. On Thursday, silver was traded at Rs 7,505 per tola, which was the highest price ever recorded.
According to international media reports, gold is trading at USD 5,537 per ounce and silver at USD 117 per ounce in the international market today.
