The price of gold decreased by Rs 3,600 per tola on Thursday. The Federation of Nepal Gold and Silver Dealers’ Association fixed the precious metal at Rs 294,000 per tola, down from Rs 297,600 on Wednesday.

Overall, gold prices have surged by Rs 8,400 per tola over the week. On March 26, it was traded at Rs 285,600 per tola.

Silver price also dropped by Rs 165 per tola, and is traded at Rs 4,780 per tola, compared to Rs 4,945 on the previous day. Throughout the week, silver recorded a loss of Rs 40 per tola from Rs 4,820.

The international market also saw a decline in prices of the previous metals. According to Reuters, spot gold was down 2 percent at $4,664.39 per ounce on Thursday, breaking a four-day rally.

It said indications from the US of a possible military campaign in Iran in the coming week, a sharp rise in crude oil prices and reduced expectations of interest rate cuts have pushed bullion prices lower.

Reuters said the pullback followed bullion's climb to its highest ⁠level since March 19, before remarks by US President Donald Trump on a potential military campaign in Iran.

Spot silver fell 4.6 percent to $61.67 per ounce. A tola is equivalent to 11.6638 grams, while an ounce equals 31.1035 grams.