KATHMANDU: The price of gold decreased by Rs 4,000 per tola on Thursday.
The Nepal Gold and Silver Traders Federation set the price of gold at Rs 164,500 per tola for the day, down from Rs 168,500 per tola the previous day.
Similarly, the price of silver also dropped by Rs 55 per tola, from Rs 2,015 on Wednesday to Rs 1,960 on Thursday.
This decline in the prices of both gold and silver reflects a broader trend in the international market, which is influencing prices in Nepal.
According to the Federation, daily price adjustments in Nepal are based on fluctuations in the international market.
The price of gold in the global market saw a significant drop of 3.2 percent in just one day.
On Wednesday, gold was trading at $2,745 per ounce, but by Thursday morning, it had fallen to $2,657 per ounce.
The sharp decline in gold and silver prices is linked to the strengthening of the US dollar following Donald Trump’s election as President.
International media reports suggest that inflation could rise as a result of Trump’s return to power, which may further affect the gold and silver markets.
With inflation pressures mounting, the US Federal Reserve’s policy on interest rates could also play a role in future market trends.
Gold investments had been attracting attention in anticipation of an interest rate cut, but if inflation continues to rise, the likelihood of such a rate reduction may diminish, which in turn could influence gold prices.
According to Reuters, the strengthening of the dollar has further impacted the price of gold.
Typically, the price trends of gold and crude oil move in opposition to the value of the dollar.
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