Gold became cheaper by Rs 600 per tola in Nepal on Sunday, September 29, after a record-breaking week .

According to the Federation of Nepal Gold and Silver Dealers Association, the price of gold on Sunday, September 29, has been fixed at Rs 160,600 per tola (11.66 grams), down from Rs 161,200 last Friday.

Despite the dip, business insiders say that prices may surge further in the coming days in light of the intensifying conflict in the Middle East, Russia-Ukraine war, combined with the recent US Federal Reserve's decision to cut interest rates by 0.5 percentage points.

The ongoing major global events have weakened the dollar, driving up gold prices globally, they say.

Silver prices also slightly dropped on the day, from Rs 1,955 per tola last Friday to Rs 1,945.