KATHMANDU, MAY 14 — The price of gold in the domestic market dropped by Rs 700 per tola on Thursday, according to the Federation of Nepal Gold and Silver Dealers’ Association.

With the latest decline, fine gold is being traded at Rs 302,200 per tola today, compared to Rs 302,900 per tola on Wednesday. The continuous fluctuation in gold prices has kept both traders and consumers closely watching the market in recent weeks.

Meanwhile, silver prices witnessed a slight increase in Thursday’s trading. Silver is being traded at Rs 5,710 per tola, up by Rs 15 from Wednesday’s rate of Rs 5,695 per tola, the federation said.

Gold and silver prices in Nepal are largely influenced by trends in the international bullion market as well as fluctuations in the US dollar exchange rate.