Kathmandu: The price of gold in Nepal saw a significant drop on Wednesday, falling by Rs 7,500 per tola, according to the Federation of Nepal Gold and Silver Dealers’ Association.

After hitting an all-time high of Rs 197,900 per tola on Tuesday, the price of fine gold has now settled at Rs 190,400 per tola. The decline marks one of the sharpest single-day drops in recent times, raising concerns among traders and investors.

Silver prices have also dipped, though less drastically. The price of silver dropped by Rs 5 and is currently trading at Rs 1,965 per tola.

Market analysts suggest the fluctuation may be linked to global market trends, changes in the US dollar value, and profit-booking by investors following the recent price surge. The precious metals market in Nepal often mirrors international pricing influenced by geopolitical tensions, inflation expectations, and interest rate movements.

The Federation has advised consumers and investors to stay alert for further volatility in the coming days.