Gold gains Rs 700 to Rs 275,000 per tola; silver declines to Rs 3,675

KATHMANDU: Gold prices increased in the domestic market today, with fine gold trading at Rs 275,000 per tola, according to Federation of Nepal Gold and Silver Dealers' Association (FENEGOSIDA).

Fine gold gained Rs 700 per tola from Monday's rate of Rs 274,300 per tola. Silver, however, fell by Rs 45 per tola to Rs 3,675 per tola, down from Rs 3,720 a day earlier.

In the international market, spot gold is trading at around $3,923 per troy ounce, while spot silver is trading at about $49.5 per troy ounce.

Despite today's gain, fine gold remains below the Rs 280,300 per tola recorded on October 30. However, the latest increase pushed the precious metal above Sunday's rate of Rs 272,000 per tola, when it had declined by Rs 8,300 over a week.

Silver remains above Sunday's level of Rs 3,650 per tola, although it has fallen from Monday's rate. The white metal is also below the Rs 3,825 per tola recorded on October 30.

(One tola is equivalent to 11.66 grams, while one troy ounce is equivalent to 31.1035 grams.)