KATHMANDU: The price of gold, which hit a record high on Tuesday, has seen a sharp decline today.
Gold prices dropped by Rs 7,100 per tola today, after soaring by Rs 6,900 per tola yesterday to reach an all-time high of Rs 197,500. As of today, the price stands at Rs 190,400 per tola.
According to the Nepal Gold and Silver Dealers’ Federation, the recent steep rise in gold prices over the past few days has now been followed by a significant fall.
The price of silver has also declined, dropping by Rs 5 per tola today. Silver is currently being traded at Rs 1,965 per tola.
Just last week, gold prices surged by Rs 16,000 per tola within a span of six days.
Traders suggest that the recent volatility in the international gold market—driven in part by escalating trade tensions between the United States and China—has also significantly influenced gold prices in Nepal.
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