KATHMANDU, DECEMBER 29 – After reaching a record high on Thursday, the price of gold saw a decrease of Rs 1,300 per tola on Friday, settling at Rs 120,700 per tola. This decline followed an unprecedented high of Rs 122,000 per tola, which was reported the day before according to the Federation of Nepal Gold and Silver Dealer’s Association (FeNeGoSiDA).
Additionally, standard gold is currently being traded at Rs 120,100 per tola, down from the Thursday figure of Rs 121,400 per tola. In the silver market, prices have also adjusted to Rs 1,455 per tola, showing a decrease from the Thursday closing price of Rs 1,490 per tola.
Insight: The volatility in gold and silver prices reflects the ongoing uncertainties in the global market, especially as a result of the COVID-19 pandemic. Investors and traders might be closely tracking these fluctuations in precious metal prices as they can be indicative of broader economic trends and investment behaviors. Additionally, the local market in Nepal might also be influenced by international factors such as changes in the US dollar exchange rate and geopolitical tensions.
