KATHMANDU: Gold prices have seen a significant drop in recent days.
On Monday, the price of gold fell by Rs 15,900 per tola in just one day, and today it has dropped by an additional Rs 2,600.
According to the Federation of Nepal Gold and Silver Dealers, the current price of gold is Rs 148,700 per tola.
Yesterday, it was Rs 151,300 per tola, and just last Sunday, it was Rs 167,200 per tola.
In total, the price of gold has dropped by Rs 18,500 in just two days following the government’s reduction of the customs duty on gold from 20 percent to 10 percent.
The government lowered the customs duty to curb gold smuggling, which had surged as official imports of gold declined in the current fiscal year.
In addition, the price of silver has also decreased today by Rs 25 per tola.
Silver, which was trading at Rs 1,845 per tola yesterday, is now priced at Rs 1,820 per tola.
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