Skip to content
|Loading...
Share Gyan home
EBook

Gold and Silver Prices Plunge Heavily in the Nepali Market; Gold Drops by Rs 8,200 Per Tola

According to FENEGOSIDA, gold and silver prices plummeted sharply on Sunday in the Nepali market. Gold dropped by a massive Rs 8,200 to settle at Rs 300,800 per tola, while silver fell by Rs 335, bringing today's trading price down to Rs 4,895 per tola.

Published By Share Gyan
Gold and Silver Prices Plunge Heavily in the Nepali Market; Gold Drops by Rs 8,200 Per Tola

he Nepali precious metals market opened the week with a historic decline on Sunday, offering substantial relief to potential buyers. According to the daily rate sheet published by the Federation of Nepal Gold and Silver Dealers' Association, fine gold suffered a steep drop of Rs 8,200 per tola, falling to Rs 300,800 from Friday's benchmark of Rs 309,000. This downward momentum heavily impacted the silver market as well. Silver, which was traded at Rs 5,230 per tola on Friday, plunged by Rs 335 to secure a trading position at Rs 4,895 per tola. Market analysts attribute this sudden domestic price correction to shifting dynamics in the international market alongside localized demand adjustments.

Related News

Nepal Rastra Bank Publishes Thursday's Foreign Exchange Rates; US Dollar at Rs. 149.61

Nepal Rastra Bank (NRB) has published the official foreign exchange rates for Thursday. The buying rate of one US dollar has been fixed at Rs. 149.61 and the selling rate at Rs. 150.21. The British Pound Sterling has recorded the highest value among the major currencies listed, with a selling rate of Rs. 200.16.

Gold Price Plunges by Rs. 5,900 Per Tola on Dhanteras; Silver Also Declines

Gold and silver prices recorded a sharp decline in the Nepali market on Friday, Kartik 20, coinciding with Dhanteras. Gold fell by Rs. 5,900 per tola to Rs. 283,000, while silver dropped by Rs. 110 per tola.

Nepal's VAT Collection Exceeds Target as Consumer Reward Scheme Boosts Tax Compliance

Nepal's VAT collection exceeded its first-quarter target in FY 2083/84, reaching Rs. 41.04 billion, up 10% compared to the same period last year. The increase comes after the Inland Revenue Department introduced a consumer reward scheme encouraging people to demand bills when making purchases.

Nepal Estimates $5 Billion Needed for Reconstruction After Bhotekoshi-Trishuli Disasters

Finance Minister Dr. Swarnim Wagle has estimated that Nepal will require approximately $4.7 billion to $5 billion for reconstruction following the disasters in the Bhotekoshi and Trishuli regions. The government is preparing a phased financing plan, including financial support from India, China, the World Bank and the Asian Development Bank (ADB).

Maya Khola Hydropower's Net Profit Surges 124.52% to Rs 6.38 Crore in Q1

Maya Khola Hydropower Company Limited (MKHC) has reported a 124.52 percent increase in net profit, earning Rs 6.38 crore in the first quarter of FY 2083/84, compared to Rs 2.84 crore in the same period last year. Higher electricity sales revenue and lower interest expenses supported the company's improved profitability.

Khani Khola Hydropower Turns Profitable, Reports Rs 3.65 Crore Net Profit in Q1

Khani Khola Hydropower Company Limited (KKHC) has made a remarkable financial turnaround, reporting a net profit of Rs 3.65 crore in the first quarter of FY 2083/84, compared to a net loss of Rs 1.89 crore in the same period last year.