Oct 20, Kathmandu - The price of gold and silver in the local market has continued to decline. On Sunday, the first trading day of the month, the price of gold fell by Rs 400 per tola, while the price of silver fell by Rs 50.

According to the Federation of Nepal Gold and Silver Dealers, the price of gold was Rs 289,700 per tola on Sunday. Earlier, on Friday, the last trading day of last month, gold was traded at Rs 290,100 per tola.

Similarly, the price of silver has also declined. The Federation has stated that the price of silver, which was Rs 4,150 per tola on Friday, fell to Rs 4,100 on Sunday.

There has been a significant decline in the price of gold and silver in the last one week. On Sunday last week, gold was traded at Rs 294,400 per tola and silver at Rs 4,415. Since then, the price of gold has decreased by Rs 4,700 per tola and the price of silver by Rs 315.

Meanwhile, the price of gold and silver in the international market has also decreased. According to Metal Daily, the price of gold in the international market on Sunday was 4,154 US dollars per ounce, while the price of silver was 57 US dollars per ounce.

The fall in the price of gold and silver in both the local and international markets has had an impact on the market.