KATHMANDU: The price of gold in the Nepali market crashed by Rs 10,500 per tola (11.66 grams) in a single day on Friday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, hallmark gold is being traded at Rs 286,700 per tola.

Just the day before on Thursday, the precious metal had closed at Rs 297,200 per tola.

In line with the gold slide, silver prices also witnessed a significant drop.

Silver plunged by Rs 305 per tola, bringing its trading price down to Rs 4,640 per tola on Friday, compared to Thursday’s closing rate of Rs 4,945 per tola.