Gold shines to hit record high of Rs 161, 800 per tola
Gold price has set a new record in the domestic market today.
According to the Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 161, 800 per tola. It was traded at Rs 160, 500 per tola on Tuesday.
Likewise, the silver is being traded at Rs 1, 925 per tola.
Nepse surges by 4. 85 points on Thursday
The Nepal Stock Exchange (NEPSE) gained 4.85 points to close at 2,668.17 points on Thursday.
Similarly, the sensitive index surged by 0.15 points to close at 480. 38 points.
A total of -8,312,685unit shares of 294 companies were traded for Rs 3. 76 billion.
Meanwhile, United Modi Hydropower Ltd. (UMHL) and Mid Solu Hydropower Limited (MSHL) were the top gainers today, with their price surging by 10. 00 percent. Likewise, Three Star Hydropower Limited (TSHL) was the top loser as its price fell by 10.00 percent.
At the end of the day, total market capitalization stood at Rs 4. 24 trillion.
Goat sales surge in Kathmandu
Floods and landslides have blocked most of the roads connecting the capital, making it difficult for people to return home during Dashain. Despite these challenges, valley residents have been able to easily purchase goats, including Himalayan goats. The Food Management and Trading Company Limited (FMTC), Bagmati Province, is facilitating the distribution of these goats to consumers.
Nabin Chaulagain from Budhanilkantha was surprised to be able to buy a goat, as he has been purchasing from the company for the last 10 years. On Monday, he traveled 15 kilometers to the FMTC office to purchase one. “I’m happy the food company provides healthy goats and Himalayan goats for the festival every year,” he said.
Sudhir Sharma from New Baneshwar, who lives in Australia, returned home to celebrate Dashain after 11 years. On Monday, he purchased a goat priced at Rs 22,000 and expressed his happiness at being able to celebrate Dashain with his family. He appreciated the ease of purchasing the goat at a reasonable price. Similarly, Sundar Fuyal from Sundarijal bought 20 kilograms of goat meat, expressing his satisfaction with the quality.
The demand for goats and Himalayan goats in the valley is 1,700. FMTC Bagmati Province aims to bring 1,400 goats and 300 Himalayan goats for Dashain. By Monday, they had brought in 1,200 goats and Himalayan goats, with 300 goats and 50 Himalayan goats already sold. Assistant Departmental Manager Gyanu Thapa noted that consumer demand typically increases during Phoolpati, Saptami, and Ashtami, and they anticipate a rush of buyers.
“There’s a high demand for healthy goats and Himalayan goats, and consumers are satisfied without having to stand in long lines,” said Thapa. Veterinarians mark healthy goats with green-colored horns, and only these goats are sold to consumers.
Prices are slightly lower this year, with a reduction of Rs 10 per kilogram for goats and Rs 30 for Himalayan goats. “The relationship between demand and supply affects the selling price, but as a government-owned company, our focus is on serving consumers during the festival rather than making a profit,” said Thapa. She added that despite floods and landslides, they managed to transport the goats to Kathmandu after a challenging 10-day journey, ensuring the valley residents would have their supply in time for Ashtami and Nawami.
Veg prices triple after floods
Taking advantage of the floods and landslides, traders around Gaighat have hiked the prices of vegetables. With roads blocked due to heavy rains and trucks unable to deliver fresh produce, traders have tripled the prices of vegetables compared to normal times.
Locals complain that traders are arbitrarily setting prices, even selling stale vegetables as fresh, despite regulatory agencies’ monitoring. Srijana Tamang, a resident of Gaighat, expressed frustration over the price inconsistencies, saying, “Vegetables are not cheap, and the price of the same vegetable varies from store to store.”
Consumers are further upset that despite the rising prices, authorities have shown little interest in controlling them. They also complain that traders are selling vegetables that have been in stock for several days due to the road damage caused by the floods and landslides.
Tomatoes, once sold at Rs 60 per kg, now cost Rs 200 per kg. Radishes have jumped from Rs 25 per kg to Rs 100 per kg, and mustard greens have reached Rs 160 per kg. Similarly, cauliflower now costs Rs 200 per kg, and cabbage Rs 150, according to vegetable vendor Kusheshwar Chaudhary.
The price of onions has surged from Rs 50 per kg on Sept 26 to Rs 140 per kg. Potatoes are now Rs 90 per kg, yardlong beans Rs 130 per kg, mushrooms Rs 280 per kg, pumpkins Rs 100 per kg, bitter gourds Rs 120 per kg, cucumbers Rs 150 per kg, brinjals Rs 70 per kg, and chayote Rs 40 per kg, all prices have tripled since Sept 28.
Lemons, which were previously Rs 20 for five pieces, are now Rs 15 per piece. “We don’t have any stock at home, and due to damaged roads, we’re forced to buy produce at higher prices, so we can’t sell it cheaply,” Chaudhary explained.
Another vendor, Tej Narayan Sah, echoed these concerns, stating that the higher purchase prices have inevitably led to increased selling prices. He mentioned that due to the rains, fewer vegetables are being supplied from outside districts, making it difficult to meet demand. Gaighat typically receives up to 200 tons of vegetables daily, but this has now dropped to only 50 tons.
Locals claim that although the local government, administration, and industry and commerce associations have set official vegetable prices, implementation has been ineffective, and traders’ monopolistic practices have increased.
