KATHMANDU, MARCH 20 The price of gold in the domestic market fell sharply by Rs 7,800 per tola on Friday, dropping below the Rs 300,000 mark after a prolonged period. According to the Federation of Nepal Gold and Silver Dealers' Association, fine gold is being traded at Rs 294,500 per tola, down from Rs 302,300 per tola on Thursday. This decline marks a notable correction in the bullion market, with gold prices dropping below Rs 300,000 per tola after an extended period. The last time gold traded below this threshold was on Magh 23, when it stood at Rs 291,000 per tola. Since then, prices had consistently remained above Rs 300,000 per tola. The price of fine gold has been on a downward trend since the start of the Nepali month of Chaitra. Meanwhile, silver prices also recorded a decline, falling by Rs 115 per tola on Friday. The federation reported that silver is being traded at Rs 4,895 per tola, down from Rs 5,010 per tola a day earlier. Silver price have also been following the downward trend of gold in recent days, reflecting broader movements in the bullion market.