Gold Plunges by Rs. 2,800; Silver Drops to Rs. 5,010
Domestic bullion rates saw a significant correction on Sunday, with gold prices tumbling by Rs. 2,800 per tola to settle at Rs. 290,900, while silver tracking a parallel decline.
The Nepali bullion market experienced a sharp downward correction on Sunday, with prices for both gold and silver registering significant losses. According to the Federation of Nepal Gold and Silver Dealers' Association, fine gold plummeted by Rs. 2,800 per tola, bringing its trading price down to Rs. 290,900 from Friday's close of Rs. 293,700. Mirroring this downward trend, silver prices fell by Rs. 105 per tola, closing at Rs. 5,010 compared to Friday’s rate of Rs. 5,115. This sudden contraction offers a brief respite for domestic consumers following a prolonged period of record-breaking highs in the precious metals sector.