The price of gold dropped by Rs 1,000 per tola (11.66 grams) in the domestic market of Nepal on Wednesday, October 9.

The Federation of Nepal Gold and Silver Dealers’ Association has fixed the price of gold at Rs 159,100 on Wednesday, which is cheaper than the previous day's price of Rs 160,100 per tola.

Last Friday, October 4, gold set a new record high price as it soared to Rs 161,300 per tola.

The price of silver also dropped by Rs 40 per tola for the day and is being traded at Rs 1,900 per tola.