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The price of gold has dropped by Rs 1,200 per tola (11.66 grams) in the domestic market on Monday. 

According to the Federation of Nepal Gold and Silver Dealers' Association, the gold is being traded at Rs 149,300 per tola today. It was traded at Rs 150,500 per tola on Sunday. 

Similarly, the price of silver has dropped by Rs 25 per tola and is being traded at Rs 1,815 per tola.

The price of gold has dropped by Rs 2, 600 per tola in the domestic market on Tuesday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 148, 700 per tola today. It was traded at Rs 151, 300 per tola on Monday.

Similarly, the price of silver has dropped by Rs 25 and is being traded at Rs 1,820 per tola today.

Consumers were taken by surprise when gold prices in the domestic market dropped significantly on Monday. Gold price had gone up by Rs 1,700 per tola (11.664 grams) to Rs 167,000 on Sunday. It, however, fell by Rs 15,900 per tola overnight to Rs 151,300 on Monday. 

This significant drop in gold price is linked to the government's decision to reduce customs duty on gold imports from 20 percent to 10 percent. A cabinet meeting held on Thursday had taken the decision, which took effect from Sunday, according to the Department of Customs.

The decision to reduce customs duty was primarily motivated by two factors. First, there was a dramatic decline in gold imports through the formal channel during the first four months of the current fiscal year (2024-25). Official data from the Department of Customs reveal that Nepal imported 132.56 kg of gold worth Rs 1.42bn during the review period. This is an 87 percent drop compared to the same period of 2023/24 when the country imported 1,000.5 kg (worth Rs 8.2bn).

Nepal allows only designated commercial banks to import gold. Associations of gold dealers then take the gold from banks and distribute it among its members.

Second, and perhaps more concerning, was the emergence of increased gold smuggling activities from India to Nepal. This illicit trade was fueled by India’s decision to lower its customs duty on gold to six percent from 15 percent, creating a significant price disparity between the two countries. With gold becoming significantly cheaper in India, smugglers exploited this price differential, which led to a significant surge in illegal import of gold from the southern neighbor.

Alarmed by the significant drop in revenue from gold imports, the government decided to lower customs duty to 10 percent. The policy reversal comes just months after the Pushpa Kamal Dahal administration increased the duty from 15 percent to 20 percent in mid-July 2024 through the budget for fiscal year 2024-25.

While consumers have already benefited from the decision to lower customs duty on gold, which immediately made the yellow metal cheaper, the success of this policy adjustment will depend on several factors: the recovery of legal gold import volumes, reduction in smuggling activities and stabilization of gold prices in the domestic market.

It’s still unclear if this policy intervention will be sufficient to combat gold smuggling as Nepal’s 10 percent customs duty is still higher than six percent in India.

The price of gold has dropped by Rs 15, 900 per tola in the domestic market on Monday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 151, 300 per tola today. It was traded at Rs 167, 200 per tola on Sunday.

Similarly, the price of silver has dropped by Rs 115 and is being traded at Rs 1,845 per tola today.

The price of gold has increased by Rs 1,700 per tola (11.66 grams) in the domestic market on Sunday.

According to the Federation of Nepal Gold and Silver Dealers' Association, the gold is being traded at Rs 167,200 per tola today. It was traded at Rs 165,500 per tola on Friday.

Similarly, the price of silver has increased by Rs 20 per tola. The price of silver is fixed at Rs 1,960 per tola today.

The price of gold has increased by Rs 1, 000 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 164, 000 per tola today. It was traded at Rs 163, 000 per tola on Wednesday.

The price of silver, however, has dropped by Rs 5 and is being traded at Rs 1,950 per tola today. 

The price of gold has increased by Rs 1, 100 per tola in the domestic market on Tuesday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 162, 100 per tola today. It was traded at Rs 161, 000 per tola on Monday.

Similarly, the price of silver has increased by Rs 35 and is being traded at Rs 1, 155 per tola today.

The price of gold has dropped by Rs 2, 200 per tola in the domestic market on Thursday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 160, 000 per tola today. It was traded at Rs 162, 200 per tola on Wednesday.

Similarly, the price of silver has dropped by Rs 35 and is being traded at Rs 1,905 per tola today.

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 168, 500 per tola. It was traded at Rs 167, 000 per tola on Monday.

Likewise, the silver is being traded at Rs 2, 105 per tola.

The price of gold has increased by Rs 1, 400 per tola in the domestic market on Monday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 167, 400 per tola today. It was traded at Rs 166, 000 per tola on Friday.

Similarly, the price of silver has increased by Rs 15 and is being traded at Rs 2,085 per tola today.

The gold is being traded at Rs 166, 000 per tola in the domestic market on Friday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of silver has dropped by Rs 25 and is being traded at Rs 2,070 per tola today. 

The price of gold has increased by Rs 800 per tola in the domestic market on Wednesday to set a new record.

According to the Federation of Nepal Gold and Silver Dealers' Association, the gold is being traded at Rs 166,700 per tola (11.66 grams) against Rs 165,900 on Tuesday.

Similarly, the price of silver has increased by Rs 35 and is being traded at Rs 2, 135 per tola.

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

According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 165, 900 per tola today. It was traded at Rs 165, 600 per tola on Monday.

Similarly, the silver is being traded at Rs 2,100 per tola today.

The price of gold has increased by Rs 600 per tola in the domestic market on Monday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 165, 600 per tola today. It was traded at Rs 165, 000 per tola on Sunday.

Similarly, the price of silver has increased by Rs 20 and is being traded at Rs 2,095 per tola today.

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 165, o00 per tola. It was traded at Rs 164, 400 per tola on Friday.

Likewise, the silver is being traded at Rs 2, 075 per tola.

The price of gold has increased by Rs 2, 000 per tola in the domestic market on Friday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 164, 400 per tola today. It was traded at Rs 162, 400 per tola on Thursday.

Similarly, the silver is being traded at Rs 1,980 per tola today.