Silver also retreats after hitting a record high
KATHMANDU, DECEMBER 19
The downward trend in the gold price continued on Friday, with the precious metal declining by Rs 2,000 per tola in the domestic market, according to the Federation of Nepal Gold and Silver Dealers' Association.
Gold had touched a historic high of Rs 260,700 per tola on Mangsir 29 but failed to sustain the upward momentum. The price slipped to Rs 259,700 on Wednesday. Although it increased on Thursday to Rs 260,400 before recording a sharp one-day drop on Friday.
Similarly, silver prices also declined after reaching a new record. Silver, which was traded at an all-time high of Rs 4,080 per tola on Thursday, fell by Rs 75 per tola on Friday to Rs 4,005 per tola, the federation said.
The decline in both gold and silver prices comes after a period of consecutive gains in the domestic market.