The gold price in the domestic market fell on Tuesday, driven by a continued decline in the international bullion market.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of fine gold declined by Rs1,600 per tola (11.663 grams) to Rs273,900. On Monday, gold was priced at Rs275,500 per tola after falling from Rs282,000 on Sunday.

Compared to last Tuesday, when gold was trading at Rs309,900 per tola, the price has dropped by Rs36,000 over the week.

Silver price, meanwhile, recorded a slight increase on Tuesday. The federation fixed silver at Rs4,505 per tola, up Rs80 from Rs4,425 on Monday. Despite the daily rise, silver has fallen by Rs830 over the past week from Rs5,335 last Tuesday.

Traders said the overall downward trend reflects pressure in global bullion markets, which continues to influence domestic prices.

In international markets, gold remained under pressure as a stronger US dollar and expectations around US Federal Reserve interest rate policy weighed on investor sentiment, according to Reuters reports.