Gold price falls to Rs 283,000 per tola on Dhanteras; silver to Rs 3,810

KATHMANDU: Gold and silver prices declined in the domestic market today, according to Federation of Nepal Gold and Silver Dealers' Association (FENEGOSIDA). The prices were issued on Dhanteras, also known as Dhanatrayodashi, the first day of the Tihar festival.

Fine gold is being traded at Rs 283,000 per tola, down Rs 5,900 from Thursday's rate of Rs 288,900 per tola. Silver has also fallen by Rs 110 per tola to Rs 3,810 from Rs 3,920 a day earlier.

The decline follows gold reaching a record Rs 288,900 per tola on Thursday ahead of the festive season. Despite today's drop, the yellow metal remains higher than Rs 275,600 per tola recorded on November 4.

In the international market, spot gold is trading at around $4,042.50 per troy ounce, while spot silver is trading at approximately $52.48 per troy ounce.

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.)