Gold price plunges Rs 9,900 as silver drops Rs 360 per tola in a week
Summary
Gold prices in Nepal fell by Rs 9,900 per tola last week, while silver dropped by Rs 360 per tola. The decline was linked to expectations that the US Federal Reserve may raise interest rates after elevated inflation data.
Key Points
- The price of gold in Nepal’s domestic market fell to Rs 280,300 per tola from Rs 290,200 last week.
- Silver prices also declined, dropping from Rs 4,185 to Rs 3,825 per tola.
- Reuters said gold weakened after US inflation data reinforced expectations of a Federal Reserve rate hike.
- FENEGOSIDA reported that gold prices rose on four days during the week, but the overall trend was down.
