The COVID-19 pandemic continues to disrupt nearly every aspect of daily life in the global countries, including Nepal.<\/p>\n
Even though Nepal has managed to control the spread of coronavirus in the country, it couldn\u2019t withstand the socio-economic implications inflicted by the contagion.<\/p>\n
Lately, the Nepali bullion market has incurred losses worth NPR 7 million due to the closure of business activities and nationwide lockdown.<\/p>\n
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Earlier on March 11, the bullion price recorded an all-time high of NPR 82,700 per tola due to the tensions between the US and China and trade war between the US and China.<\/p>\n
Moreover, the gold price is anticipated to reach another historical record after the lockdown as the bullion price in the international market is regularly increasing at the moment.<\/p>\n
The Federation of Nepal Gold and Silver Dealers\u2019 Association (FeNeGoSiDA) Senior Vice President Manik Ratna Shakya claimed the gold price would climb over NPR 85,000 a tola after the lockdown.<\/p>\n
Also Read: Silver Rate in Nepal Today and Price History in Nepal<\/a><\/strong><\/p>\n <\/p>\n Despite the festering conditions, the Nepali Government has not yet taken any decisions in favor of bullion market players.<\/p>\n \u201cDespite submitting many letters to the concerned authorities, no specific decision has been taken in the name of gold traders,\u201d exclaimed Shakya.<\/p><\/blockquote>\n The FeNeGoSiDA has urged the Nepali Government to reduce loan interest rates, provide discounts on import taxes and offer relief packages for business continuity after lockdown.<\/p>\n The coronavirus pandemic has affected not only the traders but also the workers including goldsmiths and sales assistants.<\/p>\n According to the FeNeGoSiDA, around 210,000 people are involved in the bullion market in the country. They include:<\/strong><\/p>\n As per the FeNeGoSiDA, the gold price has already increased by around 12% this year as the investors stopped their investments due to the COVID-19 uncertainty.<\/p>\n More Business Articles:<\/strong><\/p>\n The COVID-19 pandemic continues to disrupt nearly every aspect of daily life in the global countries,…<\/span><\/p>\n\n
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