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

Gold Plunges by Rs. 2,800; Silver Drops to Rs. 5,010

Domestic bullion rates saw a significant correction on Sunday, with gold prices tumbling by Rs. 2,800 per tola to settle at Rs. 290,900, while silver tracking a parallel decline.

Published By Share Gyan
Gold Plunges by Rs. 2,800; Silver Drops to Rs. 5,010

The Nepali bullion market experienced a sharp downward correction on Sunday, with prices for both gold and silver registering significant losses. According to the Federation of Nepal Gold and Silver Dealers' Association, fine gold plummeted by Rs. 2,800 per tola, bringing its trading price down to Rs. 290,900 from Friday's close of Rs. 293,700. Mirroring this downward trend, silver prices fell by Rs. 105 per tola, closing at Rs. 5,010 compared to Friday’s rate of Rs. 5,115. This sudden contraction offers a brief respite for domestic consumers following a prolonged period of record-breaking highs in the precious metals sector.

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.