Gold and Silver prices fall, bringing relief to buyers

KATHMANDU: Gold and silver prices dropped sharply in Nepal on Friday after recording a small increase a day earlier.

The price of fine gold fell by 5,800 rupees per tola and was fixed at 285,500 rupees per tola on Friday. Gold had been traded at 291,300 rupees per tola on Thursday, meaning buyers now have to pay 5,800 rupees less for each tola.

Silver also became cheaper by 155 rupees per tola. Its price was set at 4,350 rupees per tola, compared to 4,505 rupees per tola on the previous day.

The latest fall comes after both metals became slightly more expensive on Thursday. Gold had increased by 300 rupees per tola, while silver had gone up by 25 rupees per tola compared to Wednesday.

Recent figures show that precious-metal prices have changed frequently throughout the week. Fine gold was priced at 285,600 rupees per tola on July 21, rose to 291,000 rupees on July 22, and reached 291,300 rupees on July 23 before falling to 285,500 rupees on Friday. Silver followed a similar pattern, rising from 4,370 rupees per tola on July 21 to 4,505 rupees on Thursday before dropping to 4,350 rupees.

The new rates may provide temporary relief to people planning to buy jewellery or precious metals. However, gold and silver prices are updated regularly, so customers are advised to confirm the latest official rate before making a purchase.