The domestic market for precious metals witnessed a decline in prices today, with both gold and silver experiencing a notable drop. According to the Federation of Nepal Gold and Silver Dealers’ Associations, the price of hallmark gold has decreased by Rs. 700 per tola (11.66 grams), bringing the current trading price to Rs. 139,300.
On Thursday, the hallmark gold was traded at a higher rate of Rs. 140,000 per tola. Similarly, the price of worked gold, which was Rs. 139,300 yesterday, has also seen a reduction and is now being traded at Rs. 138,650.
The drop in prices was not limited to gold alone. Silver, another precious metal widely traded in the Nepali market, also experienced a decline. The price of silver fell by Rs. 5 per tola, reaching Rs. 1,800 today, compared to the previous day’s trading rate of Rs. 1,805.
The fluctuations in precious metal prices are closely monitored by investors, jewelers, and individuals involved in the trading and consumption of these valuable commodities. The drop in prices can be attributed to various factors, including global market trends, supply and demand dynamics, and economic conditions both domestically and internationally.
While a decrease in prices may be viewed as favorable for consumers and buyers, it also highlights the volatility and unpredictable nature of the precious metal market. Market participants and stakeholders are advised to stay vigilant and keep a close eye on price movements to make informed decisions regarding their investments or purchases.
As the Nepali market continues to evolve and respond to global economic influences, the Federation of Nepal Gold and Silver Dealers’ Associations plays a crucial role in monitoring and disseminating accurate pricing information, ensuring transparency and fairness in the domestic precious metal trade.
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