Gold and Silver Prices Continue to Decline in Nepal

The price of gold in Nepal has seen a further decline following Monday’s sharp drop, driven by a reduction in customs tariffs by the government. On Tuesday, gold prices fell by an additional Rs 2,600 per tola, bringing the current trading price to Rs 148,700 per tola, according to the Federation of Nepal Gold and Silver Dealers’ Association.

Silver prices have also followed suit, decreasing by Rs 25 per tola to stand at Rs 1,820 per tola.

The reduction in customs tariffs has contributed significantly to the price drop, making precious metals more affordable in the domestic market. Analysts suggest the decline could spur increased demand for gold and silver, especially in the lead-up to the wedding season and other festivals.

Market watchers will continue to monitor the pricing trends as the revised tariff rates influence the broader market dynamics.