Kathmandu: After a continuous decline over the past few days, the prices of gold and silver rebounded sharply in the domestic market on Thursday.
According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of gold increased by Rs 2,900 per tola today, reaching Rs 262,500 per tola. Despite the rise, gold prices remain significantly lower compared to the record high seen earlier this week.
On Wednesday, the price of gold had dropped by Rs 1,400 per tola to settle at Rs 259,600. Earlier, prices had fallen sharply by Rs 7,900 per tola on Monday, followed by a further decline of Rs 600 per tola on Tuesday.
Last Sunday, gold had reached an all-time high of Rs 270,600 per tola in the Nepali market. Compared to that peak, the current price is down by Rs 8,100 per tola, while the cumulative fall over the last four days stands at around Rs 11,000 before today’s partial recovery.
Silver prices also increased on Thursday. The price of silver rose by Rs 110 per tola to reach Rs 4,525 per tola, the association said.
Traders attribute the recent volatility in precious metal prices to fluctuations in the international market, changes in global interest rate expectations, and movements in the US dollar.
