Gold and Silver Prices See Sharp One-Day Decline

A sharp decline in gold and silver prices was recorded in the Nepali market on Friday, January 30 (Magh 16). After setting continuous records for six consecutive days, the price of gold dropped significantly by NPR 20,500 per tola in a single day. According to the Federation of Nepal Gold and Silver Dealers’ Associations, fine gold is currently being traded at NPR 318,800 per tola, down from its all-time high of NPR 339,300 per tola recorded on Thursday. Similarly, silver prices also fell by NPR 440 per tola, trading at NPR 7,065 per tola on Friday, compared to NPR 7,505 per tola the previous day, which was the highest price in history. Traders attribute the decline to fluctuations in the international market and profit-booking after a prolonged price surge.