KATHMANDU: The price of gold declined sharply in the domestic market on Sunday, the first trading day of the week.

According to the Federation of Nepal Gold and Silver Dealers’ Association, gold prices fell by Rs 11,600 per tola (11.66 grams) in a single day.

As per the new rate, gold is being traded at Rs 241,900 per tola today. On October 20, the price of gold had reached Rs 253,500 per tola. The new price adjustment follows the resumption of trading after the Tihar holidays.

Similarly, the price of silver has also dropped. Silver declined by Rs 265 per tola and is currently being traded at Rs 2,885 per tola.