After reaching a record high of Rs 127,800 per tola on Thursday, the gold price in the domestic market witnessed a sudden reversal, plunging by Rs 1,300 per tola on Friday. This sharp downturn followed a remarkable surge of Rs 2,600 per tola from its Wednesday rate of Rs 125,200, which had set a new benchmark in the Nepali gold market. Despite the previous day’s notable gains, the precious metal’s upward trajectory faltered, resulting in a correction in its price.
According to the Federation of Nepal Gold and Silver Dealers’ Association, fine gold is currently being traded at Rs 126,500 per tola, while tejabi gold stands at Rs 125,900 per tola. This indicates a slight retreat from the peak reached on Thursday, reflecting the volatile nature of the gold market.
Similarly, silver, which had also experienced a significant surge on Thursday, gaining Rs 35 per tola, followed the trend of gold prices by slipping Rs 55 per tola on Friday. The current trading rate for silver stands at Rs 1,500 per tola, marking a notable drop from its previous rate of Rs 1,555 per tola.
The fluctuations in gold and silver prices underscore the dynamic nature of the precious metals market, influenced by various factors such as global economic trends, currency fluctuations, and investor sentiment. As market conditions continue to evolve, traders and investors alike remain vigilant to navigate through the volatility and make informed decisions regarding their precious metal holdings.
