Consumers flock to New Road shops as gold price plummets (Pictures)

Nabin Babu Gurung

Kathmandu, Nov 26

Gold buyers have started flocking to bullion shops after the price of the yellow metal dropped by 12 percent to less than Rs 150,000 over a month.

According to traders, shops especially in New Road of Kathmandu saw an influx of consumers on Monday. Traders said that there was more demand than usual for gold in other places as well.

The price of gold in the local market had reached Rs 171,000 per tola only about a month ago.

On Tuesday, the price of gold was Rs 148,700 per tola.

Gold prices plummeted after the Nepal government slashed the customs duty on gold by half and the prices also fell in the international market.

The price of gold dropped by Rs 15,900 on Monday alone while it fell further by Rs 2,600 on Tuesday.

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Published Date: 2024-11-26 14:57:00

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Nabin Babu Gurung

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Nabin Babu Gurung

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