Gold price declines, silver hits new record


Gold price is gradually dropping, while silver price has hit a new record today in the domestic market.

According to the Federation of Nepal Gold and Silver Dealers’ Association (FeNeGoSiDA), silver price reached a new peak of Rs 1,435 per tola today, surging by Rs 40 a tola overnight. On Monday, silver was traded at Rs 1,395 per tola. Prior to this, the grey metal had recorded an all-time high price of Rs 1,405 a tola on August 7.

Meanwhile, gold price is declining gradually.

As per FeNeGoSiDA, gold price reached Rs 101,600 per tola today, dropping by Rs 800 a tola compared to Monday’s trading price of Rs 102,400 per tola.

FeNeGoSiDA has stated that the value of the US dollar has strengthened in the international market due to which gold price is declining in the domestic market as well.

The federation has expressed its belief that the price of the precious yellow metal will decline further in the coming days.

A version of this article appears in e-paper on August 12, 2020, of The Himalayan Times.