Silver extends rally, climbing to Rs 4,895 per tola in domestic market
KATHMANDU DECEMBER 29
Gold price in the domestic market declined by Rs 600 per tola on Monday, a day after reaching a record high, indicating a pause in the sharp upward momentum seen over the weeks.
According to the Federation of Nepal Gold and Silver Dealers' Association, the price of fine gold fell to Rs 270,000 per tola on Monday from an all-time high of Rs 270,600 per tola recorded on Sunday. The Sunday price had broken the psychological threshold of Rs 270,000 per tola for the first time.
Despite the correction, the decline was modest compared to the recent surge. Gold prices had jumped by Rs 1,300 per tola on Sunday compared to Friday's rate.
In contrast, the silver price continued its upward trend on Monday. The price of silver increased by Rs 60 per tola to reach Rs 4,895 per tola, extending gains recorded over the past few weeks.
Silver had surged sharply by Rs 270 per tola in a single day on Sunday, when it reached Rs 4,835 per tola, the federation said.