The gold price surged in the Nepali market on Tuesday, reversing a recent decline.

The price of fine gold rose by Rs3,700 per tola (11.663 grams) to Rs290,300, up from Rs286,600 on Monday, the Federation of Nepal Gold and Silver Dealers’ Association said.

Silver price also increased, climbing Rs135 per tola to Rs5,335 from Monday’s Rs5,200, the association added.

Gold price had reached an all-time high of Rs339,300 per tola on Thursday before starting to decline.

The price of the precious yellow metal fell by Rs13,400 per tola on Monday.