Gold Price Falls Sharply in Nepal Today

Today, Sunday, the domestic market has witnessed a sharp decline in gold prices, one of the most dramatic declines in recent weeks. According to the price list released by the Nepal Gold and Silver Dealers' Association today, the price of gold has dropped drastically by Rs. 6,900 per tola from the price on the previous trading day.

Gold was traded at Rs. 249,700 per tola until yesterday, while it fell noticeably to Rs. 242,800 per tola today with increased volatility in the precious metals market. According to traders, such a dramatic shift might be due to fluctuations within the international market, changes in global demand, and improved currency movements.

The silver market has followed a similar trend downward. The price of silver decreased by Rs. 150 per tola. Previously fixed at Rs. 3,285 per tola, silver was sold at Rs. 3,135 per tola and further added pressure on the whole precious metals sector.

On the global front, international news reports quote the price of gold at USD 4,085 per ounce in the world market. According to them, the decline in gold price is attributed to the changing investor sentiment, profit-booking, and expectations of key economic announcements, which have resulted in a reduced demand for safe-haven assets like gold.

According to market experts, if the global trend continues further, domestic prices might fluctuate more in the days ahead. Both traders and consumers are closely watching the situation, with the sudden drop in price creating a mix of uncertainty and opportunity in the Nepali market.