After rising by Rs 18,100 over the past two days, the price of gold dropped sharply again on Thursday.
According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of gold fell by Rs 9,500 per tola today to settle at Rs 295,200 per tola.
Over the past three days, gold prices have declined by a total of Rs 52,700. However, on Tuesday and Wednesday alone, prices had increased by Rs 18,100. On Wednesday, gold had risen by Rs 18,400 per tola to reach Rs 304,700.
On Tuesday, the price of gold had increased by Rs 3,700 per tola. Prior to that, gold prices had fallen continuously on Friday, Sunday and Monday. On Monday, the price dropped by Rs 13,400 per tola to Rs 286,600.
Last week on Thursday, gold prices surged by Rs 20,500 per tola to reach Rs 339,300, the highest price ever recorded in the Nepali market. However, prices declined by Rs 20,500 per tola on Friday and fell again by Rs 18,800 on Sunday.
Silver prices also dropped significantly today. The price of silver declined by Rs 620 per tola to Rs 4,980. On Wednesday, silver prices had increased by Rs 265 to reach Rs 5,600 per tola.
Earlier on Sunday, silver prices had fallen by Rs 1,565 per tola to Rs 5,500. This marked the largest decline in silver prices to date. Last Thursday, silver had reached a record high of Rs 7,505 per tola, the highest level ever recorded so far.
