GOLD prices continued to slide for the fourth consecutive day, dropping to Rs 49,350 per tola (11.664 gm) on Wednesday in the domestic market with local bullion dealers attributing the dip to strong dollar and investors’ attraction towards the international stock market. Following gold, silver prices too fell sharply, trading at Rs 790 per tola in the local market on Wednesday. On Sunday, the yellow metal was traded at Rs 50,500 per tola and silver at Rs 825 per tola as per the price fixed by the Federation of Nepal Gold and Silver Dealers Associations. The gold price had slipped to Rs 50,400 and Rs 50,200 per tola on Monday and Tuesday respectively. “Gold price came down by Rs 850 per tola on Wednesday on the lowering price in the international market,” said Manik Ratna Shakya, general secretary of Fenegosida. He said that the gold price, which was traded at $ 1,482 an ounce on Tuesday, to slip to $ 1,242 on Wednesday morning on the strong dollar. The price of gold on Wednesday fell to its lowest in nearly three years as a result of strong US economic data that boosted stock markets, according to media reports. The US Federal Reserve’s plan to scale back its monetary easing measures in the next few months has also contributed to lower the price. With the gold price slidding to $ 1,230 per ounce in the international market on Wednesday evening, the local bullion traders predict it to decline further on Thursday. Last month, the gold price had dropped to Rs 48,700 per tola in line with the international trend. Date Gold (price per tola)
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