Price of Gold Drops by Rs 700 per 11 Grams

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Price of Gold Drops by Rs 700 per 11 Grams

August 28: The price of gold has dropped by Rs 700 per 11 grams on Friday. The price of gold is fluctuating in the domestic market of Nepal due to the fluctuation in price in the international market.

According to the Federation of Nepal Gold and Silver Dealers Association, fine gold is being traded for Rs 96,900 per tola (11 grams ) on Friday. The price of gold was Rs 97,600 on Thursday.

Meanwhile, silver is being traded for Rs 1340 per 11 grams.

The uncertainty caused by coronavirus had resulted in skyrocketing of gold price in the international market until a few weeks ago. Nepal was not an exception as investors started making heavy investment in gold.

The price of gold had crossed the 100,000 mark in Nepal just a few weeks ago.

However, the price has been declining ever since Russia announced a vaccine for coronavirus some time ago.

 

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