KATHMANDU, April 25: The price of gold in the domestic market decreased Rs 3,300 per tola (11.6638 grams) due to the volatility in the global economy caused by the ongoing war between the US and Iran.
According to the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA), the market price of gold fell to Rs 296,500 from Rs 299,800 per tola when the market closed the previous week. On Sunday, the price of the precious metal increased by Rs 1,200 per tola.
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On Monday, it went down Rs 1,300 per tola, which was followed by gains of Rs 1,600 on Tuesday. On the rest of the three consecutive days, the price declined Rs 800, Rs 1,800 and Rs 2,200, respectively.
Along with gold, the price of silver also decreased Rs 185 per tola in Nepal’s local market. In the review period, the price decreased to Rs 4,945 from Rs 5,130.
According to the FENEGOSIDA, the volatility in prices of precious metals was due to a number of factors including ongoing Middle East tensions, inflationary pressure with surging price of petroleum products with supply disruption.
