Gold Price Plummets by Rs 11,100 in Nepal's Domestic Market

The price of gold plummeted by Rs 11,100 per tola last week in Nepal's domestic market.

This decline is attributed to growing expectations of a Federal Reserve rate hike, causing investors to reassess their portfolios and reduce their demand for the precious metal.

However, as US Treasury yields eased and oil prices stabilized, investor interest in gold rebounded, leading to a slight price recovery in the second half of the week.

The Federation of Nepal Gold and Silver Dealers' Association (FENEGOSIDA) reported that the market price of gold decreased from Rs 318,500 to Rs 307,400 per tola by the end of the week.