Domestic gold prices witnessed a sharp decline of Rs 900 per tola on Monday.
The price of fine gold dropped by Rs 900 per tola, falling to Rs 299,900 from yesterday's Rs 300,800.
The domestic bullion market on Monday recorded a significant correction as gold prices plummeted while silver managed to post subtle gains. According to the Federation of Nepal Gold and Silver Dealers' Association (FENEGOSIDA), the price of fine gold fell sharply by Rs 900 per tola. With this downward adjustment, the precious yellow metal is now being traded at Rs 299,900 per tola, down from Sunday's trading rate of Rs 300,800 per tola. In contrast to the slumping gold market, silver showed resilience by moving in the opposite direction. The price of silver increased by Rs 10 per tola, bringing today's market rate to Rs 4,905 per tola compared to Sunday’s closing rate of Rs 4,895 per tola. Market analysts attribute this divergent trend to the ongoing fluctuations in the international bullion market.