The gold transaction has surged in the wake of diminution of its market value after the start of the Bada Dashain festival, Nepal Gold & Silver Dealers' Association said.

The price of a unit (tola) of Hallmark Gold which stood at Rs 58,300 during the Ghatasthapana day is seeing transaction for Rs 56,000 per unit today whereas the Tejabi Gold price continues at Rs 55,750 per unit.

The gold price has slumped to Rs 2,300 per unit with repeated reductions seen over the period after Ghatasthapana, according to the Association.

Association Chairman, Maniratna Shakya, attributed the slump in the gold price to the reduction of the price of gold in the international market.

Meanwhile, the price of silver has dropped to Rs 810 per unit from Rs 860 per unit. RSS