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Dhanteras Celebrated Across Nepal as Gold Prices Drop by Rs. 5,900 Per Tola

Nepal is celebrating Dhanteras with enthusiasm as consumers flock to gold and silver shops to purchase precious metals. Gold prices dropped by Rs. 5,900 per tola to Rs. 283,000 on Friday, offering some relief to buyers, while silver prices also declined by Rs. 110 per tola. Meanwhile, Nepal Rastra Bank's gold coin stock has been exhausted amid strong demand.

Published By Share Gyan
Dhanteras Celebrated Across Nepal as Gold Prices Drop by Rs. 5,900 Per Tola

Dhanteras, marking the beginning of the Tihar festival, is being celebrated across Nepal today with religious devotion and enthusiasm. On this occasion, devotees worship Lord Kuber and Goddess Lakshmi, while purchasing gold, silver coins, idols and utensils is considered an auspicious tradition associated with wealth and prosperity. According to the Federation of Nepal Gold and Silver Dealers' Association, gold prices declined by Rs. 5,900 per tola to Rs. 283,000 on Friday. Similarly, silver prices dropped by Rs. 110 to Rs. 3,810 per tola. Meanwhile, Nepal Rastra Bank's Mint Division has exhausted its stock of gold coins (Asharfi) following high demand on Dhanteras. The division has fixed the price of a 10-gram silver coin at Rs. 3,700 for Friday. Federation President Arjun Rasaili said consumer turnout has been encouraging, with buyers showing greater interest in silver coins and utensils than gold. He estimated that around 40 to 50 kilograms of gold could be traded throughout the day. However, banking representatives attributed the limited gold supply to weak overall market demand. Nepal imported approximately 140 kilograms of gold during the current fiscal year 2083/84, compared to 1,403 kilograms in the previous fiscal year. Despite rising prices and changing purchasing patterns, Dhanteras continues to hold cultural and religious significance, with people purchasing precious metals according to their financial capacity as a symbol of savings, good fortune and prosperity.

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