Gold and Silver Prices Plunge Sharply in Nepal After Tihar

On Sunday, October 26 (Kartik 9), the first trading day after Tihar, the prices of gold and silver in the Nepali market witnessed a sharp decline. According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of hallmark gold has dropped by Rs. 11,600 per tola, while silver has fallen by Rs. 265 per tola. As of today, hallmark gold is being traded at Rs. 2,41,900 per tola, compared to Rs. 2,53,500 per tola on Monday, October 21 (Kartik 3). The decline follows a significant fall in gold prices in the international market, which directly impacted the domestic market. After the long Tihar holiday, the market reopened with a steep drop in both gold and silver prices. Silver is currently traded at Rs. 3,015 per tola, down from Rs. 3,280 per tola recorded on October 21.