Gold price falls to Rs. 151,300 after customs duty cut

The price of gold in Nepal has dropped significantly by NPR 15,900 per tola following a reduced customs duty. On Monday, the Federation of Nepal Gold and Silver Dealers set the price of gold at NPR 151,300 per tola, compared to NPR 167,200 the previous day.

“This adjustment was made after the government reduced the customs duty on gold to 10 percent,” said Arjun Rasaili, President of the Federation. The duty had been reduced from 20 percent to 10 percent, with the changes impacting prices starting Monday.

The international gold market also saw a slight dip in prices on Monday. Silver prices in Nepal have similarly decreased, dropping by NPR 95 per tola. The Federation has set silver’s price at NPR 1,845 per tola, down from NPR 1,940 the day before. The customs duty on silver was also reduced from 15 percent to 10 percent.