After an Impressive Pandemic-Induced Rally, Precious Metals Are Seeing a Correction; Gold Loses Rs. 1,100 Per Tola in a Single Day

According to the official website of the Federation of Nepal Gold and Silver Dealers' Association, the price of fine gold today is Rs. 90,000 per tola. Meanwhile, the price of tejabi gold is Rs. 89,550 per tola. This is Rs. ,1,110 decline per tola from the rate maintained yesterday. Yesterday, fine gold traded at Rs. 91,100 per tola and tejabi gold traded at Rs. 90,600 per tola. Gold had lost Rs. 900 yesterday as well compared to the rate maintained the day before yesterday.

At times overshadowed by the hype on gold, silver is actually a silent yet potentially more profitable investment alternative. Silver is trading today at Rs. 1,290 per tola, Rs. 10 lower from yesterday's rate. Over the last couple of weeks, we've seen some crazy volatility in the international markets for certain stocks. The video and computer game retailer GameStop, the movie theatre company AMC, and several more, have all seen wild swings in their share prices. This week, the volatility spread from the stock market and into commodities. Silver saw prices go up in the international market as much as 13 percent.

The price of gold and silver saw an aggressive spike during the pandemic and economic turbulence. Now that the world economy seems to be nursing its wounds, the international market for precious metals is highly fluctuating, and the impacts are also felt at home.