- This topic has 0 replies, 1 voice, and was last updated 13 years ago by
.
-
Posts
-
-
http://www.parakhi.com/news/2012/01/05/gold-imports-increase-four-fold-this-year
January 5, 2012 Posted By : parakhi
Gold imports have increased by more than 400 percent to 2,300 kg in the first five months of the current fiscal year as restriction on gold imports imposed for last fiscal year was lifted. Gold imports worth Rs 9.872 billion was reported in the first five months of this current fiscal year compared to Rs 1.337 billion during the same period last year.
According to traders, gold imports fell last year when the government imposed restriction and failed to renew regulation that allows wholesale agencies like banks to bring in gold into the country.
Major institutional gold importers in the country are major banks such has Nepal Investment Bank and Standard Chartered Bank. These banks give one kg of gold to each trader per day while the rest comes from citizens who come from overseas and India.
The current average daily demand of gold in the local market stands at 20-22 kg compared to demand of 30 kg last year. The demand for gold has gone down due to sharp increase in gold prices.
Last year, gold prices in Nepal was Rs 40,000 per tola (11.664 grams) while it has gone up by more than 30 percent to Rs 52,000 per tola this year. Yesterday, Gold was priced at Rs 52,900 per tola.
image source: flickr.com
http://www.parakhi.com/news/2012/01/05/gold-imports-increase-four-fold-this-year
-
- You must be logged in to reply to this topic.