Gold price reaches Rs 275,600 per tola in domestic market; silver declines

KATHMANDU: Gold prices increased in the domestic market today, while silver prices declined, according to the Federation of Nepal Gold and Silver Dealers' Association (FENEGOSIDA).

Fine gold is trading at Rs 275,600 per tola, up Rs 600 from Tuesday's rate of Rs 275,000 per tola. Silver, meanwhile, fell Rs 20 per tola to Rs 3,655, down from Rs 3,675 a day earlier.

In the international market, spot gold is trading at around $3,952 per troy ounce, while spot silver is trading at about $49.9 per troy ounce.

Despite the latest increase, fine gold remains below the recent high of Rs 280,300 per tola recorded on October 30. However, it is Rs 3,600 higher than the Rs 272,000 per tola recorded on November 1.

Silver has declined for a second consecutive trading day and remains well below the Rs 3,825 per tola recorded on October 30. The white metal is also lower than Monday's rate of Rs 3,720 per tola.

FENEGOSIDA sets daily domestic bullion prices based on trends in the international market and movements in the exchange rate.

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