Gold and Silver Prices Skyrocket as Nepal Doubles Customs Duty

Nepal's bullion market witnessed an unprecedented surge this Sunday, as the government's decision to double customs duty on gold from 10% to 20% in the upcoming fiscal year 2083/84 budget sent prices soaring. Gold investors woke up to a significant adjustment, with the price per tola jumping by an astounding NPR 20,500, pushing it to a new high of NPR 311,100. Silver, not immune to the policy shift, also saw a sharp increase of NPR 305 per tola, now trading at NPR 5,345. This policy change directly translates into higher costs for consumers and jewelers, potentially dampening demand in the short term. Investors holding physical gold and silver will see the nominal value of their assets appreciate, while new buyers face considerably steeper entry points.

• Market Flash! Gold and Silver hit record highs in Nepal as customs duty doubles to 20% in the new budget! Gold up NPR 20,500/tola, now NPR 311,100! Silver up NPR 305/tola, now NPR 5,345! Brace for impact, investors! #SamacharSanjal #NEPSE #GoldPriceNepal #StockMarketNepal