Gold price rises to Rs 283,500 per tola; silver falls to Rs 3,930 in domestic market

KATHMANDU: Fine gold prices in the domestic market climbed to Rs 283,500 per tola on Thursday, extending gains from recent trading sessions, according to Federation of Nepal Gold and Silver Dealers' Association (FENEGOSIDA). Silver, however, fell to Rs 3,930 per tola.

The latest rate is Rs 300 per tola higher than Wednesday's price of Rs 283,200 per tola for fine gold. Silver declined by Rs 50 per tola from Rs 3,980 per tola a day earlier.

Gold prices have followed an upward trend throughout the week. Fine gold traded at Rs 278,500 per tola on Sunday, rose to Rs 281,500 on Monday, increased to Rs 282,300 on Tuesday, and reached Rs 283,200 on Wednesday before climbing to Rs 283,500 on Thursday.

Silver prices showed mixed movements over the same period. The metal traded at Rs 3,955 per tola on Sunday and rose to Rs 3,995 on Monday before dropping to Rs 3,970 on Tuesday. It edged up to Rs 3,980 on Wednesday and fell to Rs 3,930 on Thursday.

Despite the recent increase, domestic bullion prices remain below the levels recorded earlier this month. On October 18, fine gold traded at Rs 290,200 per tola, while silver stood at Rs 4,185 per tola. Those rates came after domestic bullion prices remained unchanged for about a week during the Dashain festival holidays.

(One tola is equivalent to 11.66 grams.)