The domestic precious metals market recorded a substantial decline on Sunday, with gold prices dropping by Rs. 8,200 per tola, marking one of the largest single-day corrections in recent weeks.
According to the Federation of Nepal Gold and Silver Dealers' Association (FENEGOSIDA), the price of fine gold has fallen to Rs. 300,800 per tola from the previous trading day's rate of Rs. 309,000 per tola. The sharp decline has provided some relief to consumers and jewelry buyers who have been facing historically high gold prices in recent months.
Tejabi gold also followed the same downward trend. Its price decreased by Rs. 8,200 per tola, reaching Rs. 300,100 per tola compared to Rs. 308,300 per tola recorded a day earlier.
Silver prices likewise experienced a significant correction. The price of silver fell by Rs. 335 per tola, bringing the new rate down to Rs. 4,895 per tola from the previous level of Rs. 5,230 per tola.
The decline in domestic precious metal prices comes amid fluctuations in the international bullion market, where changing investor sentiment, movements in the U.S. dollar, global economic indicators, and interest rate expectations continue to influence gold and silver prices worldwide.
Market analysts note that while gold remains one of the preferred safe-haven assets during periods of economic uncertainty, short-term price movements are often driven by global market developments and investor reactions to economic data.
For consumers planning to purchase gold jewelry or invest in precious metals, the latest correction may present a more favorable buying opportunity compared to the record-high levels seen in recent weeks. However, experts caution that precious metal prices remain highly sensitive to international market conditions and could continue to fluctuate in the coming days.
Traders and investors will now closely monitor global bullion trends to determine whether this decline signals a temporary correction or the beginning of a broader downward movement in precious metal prices.
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