Gold Price Drops by Rs 20,500 in Nepal After One-Day Record Surge

Nepal’s gold market witnessed a sudden reversal on Friday, with prices falling sharply after reaching a historic high just a day earlier. The decline has reset bullion rates at the close of the trading week, affecting both gold and silver.

According to the Nepal Gold and Silver Dealers’ Association, the price of gold dropped by Rs 20,500 per tola, bringing the rate down to Rs 318,800. On Thursday, gold had climbed by the same margin to trade at an all-time high of Rs 339,300 per tola.

The swing marks one of the steepest single-day corrections seen in the domestic bullion market in recent months, underscoring heightened volatility at elevated price levels.

Silver prices also moved lower alongside gold. The association reported that silver is trading at Rs 7,065 per tola on Friday, down from Rs 7,505 per tola recorded the previous day.

Market participants say the synchronized fall in both precious metals reflects short-term corrections after rapid price escalation, as traders reassess positions before the weekend.