Officials of the Federation of Nepal Gold and Silver Dealers Associations say gold price fell in the domestic market due to drop in the price of yellow metal in the international market.Gold was traded in the international market at US$ 1,190.4 per troy on Thursday, up from Wednesday's rate of US$1,190 per troy ounce.
"The price was constant through the week. It went up all of a sudden on Thursday. It was unexpected," Mani Ratna Shakya, president of the federation, told Republica.
Meanwhile, price of silver also increased by Rs 7.5 per tola to Rs 721.5 on Thursday.
Dealers, however, said fluctuation gold price is keeping buyers away. "As the price is changing every day, customers have refrained from making new investment. This has serious affected our business," said Shakya.
Officials of the federation say demand for gold has dropped to around 15 kg compared to normal daily demand of around 30 kg recorded a month before.
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