May 8 : The Federation of Nepal Gold and Silver Dealers’ Association has urged the government to take immediate measures to support the bullion market hit by the COVID-19 outbreak and the subsequent national lockdown.
Since March 24 when the lockdown was imposed, the market has suffered a whooping loss of around Rs seven billion, it is reported.
In order to help sustain the business of gold and silver, there should be reduction in loan interest, discount on import taxes as well as suitable relief packages, according to the Federation.
Meanwhile, it is predicted that the price of per tola (10 grams) of gold in the domestic marker will soar over Rs 85,000 once the lockdown ends. The very speculation is based on the continuous rise in the price of the yellow metal in the international market.
