Gold Prices Drop by Rs 2,600 per Tola Following Reduction in Customs Duty

The price of gold in the domestic market experienced a significant decrease of Rs 2,600 per tola on Tuesday, marking a total decline of Rs 18,500 per tola over the past two days. This sharp drop follows the Cabinet’s recent decision to reduce the customs duty on gold imports from 20% to 10%.

According to the Federation of Nepal Gold and Silver Dealers’ Association, fine gold is now being traded at Rs 148,700 per tola, down from Rs 151,300 per tola on Monday.

Silver prices have also seen a reduction, with a drop of Rs 25 per tola. As of Tuesday, silver is being traded at Rs 1,820 per tola, down from Rs 1,845 per tola on Monday.