Gold Rebounds Over 1 Lakh Per Tola in the Nepalese Market

After falling to trade below Rs 1 Lakh per tola, the price of gold has rebounded over that level today.

The price of gold had seen a correction worldwide shortly before. Just last week in the international market, gold kicked off its downward trajectory after a failed attempt at a new record high. Gold and silver posted strong losses while trading led gold down over $115 in a single day. Both gold and silver prices seemed to plummet as if in a freefall.

The change in investor sentiment was also reflected in the Nepalese market. In the price updated by the Federation of Nepal Gold and Silver Dealers' Association last week, gold fell a massive Rs. 6,200 in a single day. 

However, fine gold has again crossed the Rs. 1 lakh per tola mark today. It is being traded at Rs. 1,00,400 per tola in the Nepalese market. Tejabi gold is trading alongside at Rs. 99,900 per tola and silver is trading at Rs. 1380 per tola.