KATHMANDU, JUNE 9
The gold price experienced a sharp plunge in the domestic market as it dropped by Rs 4,000 per tola on Sunday.
This substantial drop follows the record-breaking price of Rs 145,000 per tola on Friday.
According to the Federation of Gold and Silver Dealers' Association, fine gold is being traded at Rs 141,000 per tola today.
The gold price had been rising and reaching new heights in the Nepali market following the announcement of the budget for the fiscal year 2080/81, in which the government increased the customs rate on gold by 5%. Although the market had seen some fluctuations, this is the single most significant drop in the gold price in the domestic market after reaching a record high.
Similarly, the silver price also dropped by Rs 75 per tola in the domestic market, now being traded at Rs 1,825 per tola. It had been traded at Rs 1,900 per tola on Friday after gaining Rs 50 per tola that day.
Meanwhile, Tejabi gold is being traded at Rs 140,300 per tola, compared to Rs 144,300 per tola on Friday.
