Kathmandu-
The price of gold has seen a significant reduction today. The rate of hallmark gold dropped by NRs 15,900 per tola, bringing the price down to NRs 1,51,300 per tola from NRs 1,67,200 per tola on Sunday.
Similarly, the price of silver has also decreased by NRs 115 per tola, now priced at NRs 1,845 per tola.
This sharp decline follows the Council of Ministers’ decision on Thursday to reduce customs duties on gold and silver. The government has slashed the customs duty on gold from 20% to 10%, and on silver from 15% to 10%, leading to the significant price drops in the market.
The reduction in customs duties is expected to make precious metals more accessible and influence the market dynamics positively.