Gold Price Drops by Rs 15,900 Following Customs Duty Reduction

CGC News Reporter November 25, 2024

The price of gold saw a significant drop on Monday, falling by Rs 15,900 per tola in the domestic market. This price reduction follows the government’s recent move to reduce the customs duty on gold imports.

According to the Federation of Nepal Gold and Silver Dealers Associations, the price of gold has been set at Rs 151,300 per tola on Monday. This marks a sharp decline from the previous day’s price of Rs 167,200 per tola, which had seen an increase of Rs 1,700.

The drop in gold prices is attributed to the government’s decision to ease import duties, providing relief to consumers in the domestic market.