Gold and Silver Prices Drop Sharply in Nepal

Gold and silver prices in Nepal witnessed a significant decline on Wednesday, according to the Federation of Nepal Gold and Silver Dealers’ Association.

The price of fine gold fell by Rs 1,300 per tola, bringing it down to Rs 192,000 per tola, compared to Rs 193,300 the previous day. Gold had previously hit an all-time high of Rs 197,900 per tola on April 21.

Similarly, silver prices also dropped by Rs 15 per tola, falling to Rs 2,260 from Rs 2,275. Silver had recently reached a record high of Rs 2,315 per tola on Monday.

The sharp drop in both gold and silver prices is attributed to fluctuations in the international market, particularly changes in the value of the U.S. dollar and shifting expectations around global interest rates.