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The price of gold has dropped by Rs 800 per tola in the domestic market on Thursday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 135, 600 per tola today. It was traded at Rs 136, 400 per tola on Wednesday.

Similarly, tejabi gold is being traded at Rs 134, 950 per tola. It was traded at Rs 135, 750 per tola.

Meanwhile, the silver is being traded at Rs 1,685 per tola today.

The World Bank’s Board of Executive Directors today approved an $80m development policy credit for Nepal to strengthen the stability of the financial sector, diversify financial solutions, and increase access to financial services.

The third Finance for Growth Development Policy Credit aims to improve the functioning of the financial sector to support private sector-led growth. The operation will strengthen the supervision of the banking and insurance sectors in Nepal and foster financial product innovations in capital, insurance, and disaster risk markets. The operation will also increase financial inclusion through digitalization, enhanced credit infrastructure and improved financial literacy, with a focus on women entrepreneurs.

“This project supports Nepal’s green, resilient, and inclusive development and will help create an enabling environment for private investment to contribute to Nepal’s economic growth, particularly benefiting the poor and vulnerable,” said Faris Hadad-Zervos, World Bank Country Director for Maldives, Nepal, and Sri Lanka. 

The operation also supports Nepal’s climate agenda by, for example, enhancing supervision of climate risks by requiring disclosures of climate-related risks and impacts of the banking sector portfolio; introducing risk-informed pricing for insurance products, including climate risks; establishing a framework for the issuance of green bonds; and integrating climate-related mitigation and adaptation commitments into credit guarantee products.

“This operation supports the government’s transformative financial sector reform agenda to promote private sector-led growth. The reforms in banking, insurance, and capital markets are instrumental for the sector’s resilience and the critical role it plays to enable private capital mobilization,” stated Tatsiana Kliatskova, World Bank task team leader for the project.

The Nepal Stock Exchange (NEPSE) plunged by 0. 21 points to close at 1,960.60 points on Wednesday.

Similarly, the sensitive index dropped by 0. 17 points to close at 349. 40 points.

A total of 5,874,967-unit shares of 305 companies were traded for Rs 2. 54 billion.

Meanwhile, Infinity Laghubitta Bittiya Sanstha Limited (ILBS) was the top gainer today with its price surging by 9. 99 percent. Likewise, Kumari Sabal Yojana (KSY) was the top loser with its price fell by 10. 00 percent.

At the end of the day, the total market capitalization stood at Rs 3. 10 trillion. 

The gold is being traded at Rs 136, 400 per tola in the domestic market on Wednesday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, tejabi gold is being traded at Rs 135, 750 per tola.

Similarly, the silver is being traded at Rs 1,675 per tola today.