Gold price in Nepal continued its downward trend on Monday, falling by Rs6,500 per tola (11.663 grams) compared to the previous day.

According to the Federation of Nepal Gold and Silver Dealers’ Association, fine gold is priced at Rs275,500 per tola. On Sunday, the rate stood at Rs282,000 per tola, after a steep drop of Rs12,500 from Friday’s Rs294,500.

Silver price also declined, with the federation fixing it at Rs4,425 per tola on Monday, down from Rs4,540 on Sunday.

In international markets, gold extended losses, hitting a near four-month low as a stronger US dollar and shifting expectations on US Federal Reserve interest rates reduced demand for non-yielding assets.

Silver also declined alongside gold, with both metals pressured by ongoing profit-taking and volatility, according to Reuters.