Gold Falls from Record High, Silver Prices Edge Up

Gold prices in the Nepali market declined on Tuesday, Poush 1, while silver prices recorded a slight increase. After reaching a historic high, the price of gold dropped by Rs 1,700 per tola, whereas silver rose by Rs 15 per tola.

According to the Federation of Nepal Gold and Silver Dealers’ Associations, the price of hallmark gold stood at Rs 259,000 per tola on Tuesday. On Monday, gold was traded at Rs 260,700 per tola, which marked the highest price recorded so far in the domestic market.

Meanwhile, silver prices moved upward during the day. Silver was traded at Rs 3,885 per tola on Tuesday, compared to Rs 3,870 per tola on the previous trading day. Traders attribute the fluctuation in precious metal prices to changes in the international market as well as domestic demand conditions.