KATHMANDU: Gold prices witnessed a dramatic week in the domestic market, soaring to a record Rs 298,500 per tola (11.66 grams) before suffering their steepest single-day decline of the week, falling Rs 10,500 to close at Rs 286,700 on Friday, June 19, according to the Federation of Nepal Gold and Silver Dealers’ Association.

The precious metal began the period at Rs 293,200 per tola on June 14 and surged Rs 5,000 in a single session on June 15, reaching a then-record Rs 298,200. Gold extended its gains to an all-time high of Rs 298,500 on June 16 before reversing course.

Prices declined by Rs 1,200 on June 17 and Rs 100 on June 18, before Friday’s sharp correction erased much of the week’s earlier gains. Overall, gold ended the period Rs 6,500 lower than where it began.

Silver followed a similar path. After rising from Rs 4,895 per tola on June 14 to Rs 5,015 on June 15, the metal gradually retreated and closed at Rs 4,640 per tola on June 19, posting a net weekly loss of Rs 255.