Govt slashes gold & silver duty, prices expected to drop by Rs 15,000
Currently, gold is being traded at Rs 167,200 per tola, while silver is priced at Rs 1,960 per tola.
KATHMANDU: The government has slashed the customs duty on gold and silver to curb smuggling, which has been rising due to lower duty rates in India.
The recent Cabinet decision reduces the customs duty on gold from 20% to 10%, and on silver from 15% to 10%.
This move is expected to decrease the price of gold by approximately Rs 15,000 per tola, with the duty per tola dropping from Rs 29,000 to Rs 14,000.
Arjun Rasaili, president of the Federation of Gold and Silver Dealers, stated, “The price adjustment will be finalized after discussions with Nepal Rastra Bank and other government agencies.”
Currently, gold is being traded at Rs 167,200 per tola, while silver is priced at Rs 1,960 per tola.
The reduced duty is anticipated to make gold and silver more affordable, boosting both trade and consumer purchasing power.
Further details regarding the implementation date and process of the new pricing will be announced soon.
