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The price of gold has increased by Rs 1, 300 per tola in the domestic market on Thursday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 122, 000 per tola today. It was traded at Rs 120, 700 per tola on Wednesday.

Meanwhile, tejabi gold is being traded at Rs 121, 400 per tola. It was traded at Rs 120, 100 per tola.

Similarly, the price of silver has increased by Rs 15 and is being traded at Rs 1,490 per tola today. 

Thousands of livestock farmers across the country are awaiting compensation from the government for the loss of their cattle due to lumpy skin disease.

The lumpy skin outbreak affected 1.53m cattle across the country in the fiscal year 2023/24. Of them, 65,441 cattle died. Although the outbreak, which peaked in the June-September period, has come under control now, many farmers have lost hope of receiving any compensation from government agencies.

Even officials of the Department of Livestock Services admit that the government has failed to compensate farmers for the loss of their livestock on time. They claim that although they have forwarded details of livestock loss to the finance ministry, it has not released funds.

Lumps on skin, lesions on mucous membranes, fever, loss of appetite, reduced milk production and discharge from eyes and nose are the common symptoms of lumpy skin disease.

Experts say that although the lumpy skin outbreak has come under control with the advent of the winter season, there is a risk of another outbreak once temperatures start rising. They say the government should, therefore, prepare strategies on time to combat the outbreak.

The department has estimated the loss incurred by the farmers due to the lumpy skin outbreak at Rs 75.52bn. Experts say this is the biggest loss that livestock farmers have faced so far.

Because of the lumpy skin outbreak, farmers have witnessed a slump in the production of milk and organic fertilizers. Experts say that since farmers are facing a shortage of animals to till the land and carry loads, and they need to use their hard-earned savings to buy new animals, it can affect the gross national income. The agriculture and livestock sector contribute about 23 percent to gross domestic production. The contribution of the livestock sector is around six percent.

Lumpy skin disease (LSD) is a vector-borne viral disease affecting cattle. It causes huge economic losses to dairy farmers due to the drastic reduction in milk production. It first appeared in Bangladesh, China and India in 2019. Nepal recorded the first case of lumpy skin disease in Gandaki Province in June 2020.

The Nepal Stock Exchange (NEPSE) plunged by 17. 23 points to close at 2,070.84 points on Wednesday.

Similarly, the sensitive index dropped by 4. 25 points to close at 387. 07 points.

A total of 14 ,337,738-unit shares of 307 companies were traded for Rs 5. 24 billion.

Meanwhile, Nepal Insurance Co. Ltd., Infinity Laghubitta Bittiya Sanstha Limited (ILBS), Manakamana Engineering Hydropower Limited (MEHL) and Chirkhwa Hydropower Limited (CKHL)were the top gainers today with their price surging by 10. 00 percent.

Likewise, BPW Laghubitta Bittiya Sanstha Limited (BPW)the top losers as their price fell by 10. 00 percent.

At the end of the day, the total market capitalization stood at Rs 3. 21 trillion.

The price of gold has increased by Rs 200 per tola in the domestic market on Wednesday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 120, 700 per tola today. It was traded at Rs 120, 500 per tola on Tuesday.

Meanwhile, tejabi gold is being traded at Rs 120, 100 per tola. It was traded at Rs 119, 900 per tola.

Similarly, the price of silver has dropped by Rs 10 and is being traded at Rs 1,475 per tola today.