Gold price drops to Rs 271,700 per tola, silver to Rs 3,700 in domestic market

KATHMANDU: Gold and silver prices declined in the domestic market on Friday. Fine gold fell by Rs 12,600 per tola to Rs 271,700 per tola and silver by Rs 155 per tola to Rs 3,700 per tola compared to earlier rates recorded this week, according to the Federation of Nepal Gold and Silver Dealers' Association (FENEGOSIDA).

The prices represent substantial decrease from November 9, when fine gold was priced at Rs 284,300 per tola following a single-day increase of Rs 1,300 from Sunday's rate of Rs 283,000 per tola.

Earlier in the week, on November 9, silver was traded at Rs 3,855 per tola after rising by Rs 45 from Sunday's figure of Rs 3,810 per tola.

In the international market, spot gold is trading at approximately $3,904 per troy ounce, while silver is priced at around $50 per troy ounce.