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Increasing Import Of Gold For Meeting Demand In Nepal
By KTM Metro Reporter
May 15, 2013: the central bank of Nepal called Nepal Rastra Bankhas hinted at increasing the import of gold per day. Currently, the import grant of gold stands at 15 kilogram per day but the current market demand is 45 kilograms causing the deficit of 30 kilograms, according to the news posted on ‘gorkhapatraonline.com’ today.
Probably, the balance of the gold demand has been met by smuggling, as the increased demand pushes the price of gold higher and higher encouraging the smugglers to bring gold to the country even at the high risk.
According to the news on ‘gorkhapatraonline.com, the official of the Nepal Rastra Bank has hinted at increasing the import of gold by 5 kilograms a day. That certainly will not meet the demand. The international market price of gold is less than the Nepalese market. The increased demand for gold and the high price in the internal market push the smugglers to bring more gold out of the custom office in Nepal.
