Nepal's Gold and Silver Prices Plunge by Rs 8,800 and Rs 185 Respectively
Gold and silver prices plummeted in Nepal's domestic market on Wednesday, marking significant declines. The Federation of Nepal Gold and Silver Dealers' Association reported that hallmark gold dropped by Rs 8,800 per tola (11.66 grams), while silver declined by Rs 185 per tola.
According to the association, the current price of hallmark gold is Rs 2,97,300 per tola, down from Tuesday's price of Rs 3,06,100 per tola. Silver prices also dipped, with the current rate standing at Rs 4,580 per tola, a decrease from the previous day's price of Rs 4,765 per tola.
The sharp decline in gold and silver prices is likely to impact investors who have been holding onto these precious metals as a store of value. The exact reasons behind this drop are not immediately clear, but it may be related to fluctuations in global commodity markets or changes in demand and supply within Nepal's domestic market.