Gold price decrease by Rs 15,900 today in Nepali market

Kathmandu, Nov 25: The price of gold and silver has fallen sharply after the government reduced the customs rate on Monday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of gold fell by 15,900 rupees per tola. Gold is now being traded at 1,51,300 rupees per tola, down from 1,67,200 rupees per tola on Sunday.

Silver prices also declined. Silver, which was priced at 1,960 rupees per tola on Sunday, is now being bought and sold for 1,845 rupees per tola. This marks a decrease of 115 rupees per tola.

This heavy drop in bullion price follows the reduction of customs duty on gold imports from 20 percent to 10 percent, according to the Federation.

Similarly, the customs duty of 15 percent on silver imports has been reduced to 10 percent. The government reduced the customs rate on gold and silver to check the smuggling of gold from India to Nepal.