Gold Market Alert: Weekly Price Slump as Rates Face Unexpected Rollercoaster Ride!
The price of gold in the Nepali market decreased by Rs 400 per tola over the week, closing at Rs 2,96,100 after several days of significant price swings.
Gold prices in the domestic market saw a net decrease of Rs 400 per tola over the course of the week, according to the Federation of Nepal Gold and Silver Dealers' Association. The market opened the week based on the previous Friday's rate of Rs 2,96,500 and concluded this Friday at Rs 2,96,100 per tola.
Throughout the week, the market experienced notable volatility. On Sunday (Baisakh 13), the price surged by Rs 3,000 to reach Rs 2,99,500, followed by another increase of Rs 1,000 on Monday, bringing the rate to Rs 3,00,500. However, the trend shifted on Tuesday as prices dropped by Rs 3,000. This downward momentum continued through Wednesday and Thursday, with prices falling by Rs 3,000 and Rs 1,800 respectively, reaching a weekly low of Rs 2,92,700. On the final trading day of the week, Friday, the price recovered significantly by gaining Rs 3,400 to settle at Rs 2,96,100. Despite these daily fluctuations, the overall weekly change remained a modest decline of Rs 400.