Gold, silver prices plunge in domestic market; gold drops to Rs 242,025 per tola

KATHMANDU: Gold prices fell sharply in the domestic market on Tuesday, with fine gold trading at Rs 242,025 per tola and silver at Rs 3,403.5 per tola, according to the Federation of Nepal Gold and Silver Dealers' Association (FENEGOSIDA).

The latest rates represent a steep decline from earlier trading sessions this week. On Monday, fine gold was priced at Rs 281,500 per tola, while silver traded at Rs 3,995 per tola.

On Sunday, gold stood at Rs 278,500 per tola and silver at Rs 3,955 per tola.

Before the recent adjustments, fine gold was quoted at Rs 290,200 per tola and silver at Rs 4,185 per tola on October 18, after domestic bullion prices remained unchanged for about a week during the Dashain festival holidays.

(One tola is equivalent to 11.66 grammes.)