Gold price has declined by Rs12,500 per tola (11.663 grams) in the domestic market, according to the Federation of Nepal Gold and Silver Dealers' Association.

The price has been fixed at Rs282,000 per tola for today, down from Rs294,500 on Friday.

Silver price has also dropped by Rs355 per tola and is set at Rs4,540. It was traded at Rs4,895 per tola on Friday, the federation said.

The decline reflects continued volatility in precious metals in the international market.

According to Reuters, global gold prices have been falling due to a stronger US dollar and expectations that US interest rates will remain higher for longer, which reduces demand for non-yielding assets like gold.

Silver has also dropped sharply alongside gold in global trading sessions.

Reuters also notes that despite ongoing geopolitical tensions, safe-haven buying has been outweighed by profit-taking and macroeconomic pressures, keeping bullion under downward pressure internationally.