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Gold prices drop by more than Rs 12,600 in local market

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KATHMANDU: The price of gold and silver has seen a significant decline in the local market following the Tihar festival holidays.

According to the Federation of Nepal Gold and Silver Dealers Association, the precious metal recorded a sharp drop in value.

The association reported that the price of gold, which stood at Rs 284,300 per tola on Monday, fell by Rs 12,600 to reach Rs 271,700 per tola as of Friday.

Similarly, the price of silver also experienced a downward trend. Silver, which was traded at Rs 3,855 per tola on Monday, decreased by Rs 155, settling at Rs 3,700 per tola today.