Gold prices dropped by Rs 4,000 per tola on Thursday. The Nepal Gold and Silver Traders Federation set the price of gold at Rs 164,500 per tola, down from Rs 168,500 the previous day. Silver prices also saw a decrease, dropping by Rs 55 per tola from Rs 2,015 on Wednesday to Rs 1,960 on Thursday.
Globally, gold prices fell sharply by 3.2 percent in just one day. Gold, which was trading at $2,745 per ounce on Wednesday, dropped to $2,657 per ounce by Thursday morning.
This significant decrease is linked to the strengthening of the US dollar following Donald Trump’s election as President.
The strengthening US dollar has also contributed to the drop in gold prices. Historically, gold and crude oil prices tend to move inversely to the value of the dollar.
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