Kathmandu, Nov 25: The price of the gold has decreased sharply by Rs 15,900 per tola in the local market.
According to the Nepal Gold and Silver Dealers’ Federation, the prices for the gold and silver have been fixed in accordance with the international market.
Rate/Price
Hallmark Gold: Rs. 151,300 per tola (decrease by Rs. 15,900)
Worked Gold: Rs. 150,600 per tola (increase by Rs. 15,900)
Silver : Rs. 1,845 per tola (decrease by Rs. 115)
The price drop coincides with the government’s recent decision to reduce customs duties on gold and silver, a move aimed at curbing smuggling activities spurred by price disparities between Nepal and India. Effective from Sunday, the revised customs duties set the rate for gold at 10% (down from 20%) and for silver at 10% (down from 15%), according to the Customs Department.
The disparity arose after Nepal increased its customs duty on gold to 20% through the budget, while India reduced its rates, leading to cheaper gold prices across the border and concerns about smuggling.
The adjustment is expected to bring relief to consumers and create a more stable market environment. However, analysts suggest keeping a close watch on its long-term impact on gold demand and cross-border trade. This policy shift is part of the government’s efforts to align domestic gold prices with regional trends, discourage illicit trade, and promote transparency in the market.
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