Gold price sees a slight drop to Rs 98,400 per tola

Published On: August 23, 2020 05:45 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Aug 23: Gold price saw a slight drop to Rs 98,400 per tola (11.66 grams) on Sunday.

According to the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA), the market closed on Friday with Rs 98,800 per tola as the gold price and on Sunday, its price was set at Rs 98,400 per tola. The price went down by Rs 400 per tola.

The gold price surpassed the six digit figure price in the domestic market and has been fluctuating due to the impact of COVID-19. Along with other economic activities, the bullion market has been experiencing frequent fluctuation. As the price continues to soar, the bullion market in Nepal has incurred a loss in billions.

Gold dealers say that the trade is almost at zero percent and that they are finding it hard to sustain in the market. Similarly, the price of silver has been constantly rising with a slight drop alongside gold. It was traded for Rs 1,345 per tola on Sunday, a drop from Rs 1,370 per tola on Friday.   


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