KATHMANDU, May 31

The price of gold in the domestic market continued its upward trend at it rose by Rs 1,700 per tola on Friday.

This follows a previous increase of Rs 2,300 per tola on Thursday.

The price of the yellow metal has increased due to the ongoing price adjustments despite a drop in international gold prices, triggered by the recent budget announcement for the fiscal year 2080/81, which raised the customs rate to 20% from the previous 15% on Wednesday.

According to the Federation of Nepal Gold and Silver Dealers' Association, fine gold is now being traded at Rs 142,200 per tola, up from Rs 140,500 per tola on Thursday. Similarly, tejabi gold is priced at Rs 141,500 per tola, compared to Rs 139,800 per tola on Thursday.

Meanwhile, silver prices have been declining in the Nepali market. Silver dropped by Rs 25 per tola today, trading at Rs 1,875 per tola, following a Rs 30 per tola drop on Thursday when it traded at Rs 1,900 per tola.