Gold Imports Rise 24.5%: Why Nepalis Are Investing More in the Yellow Metal

Nepal’s imports of gold increased by 24.5% in the first month of 2025/26, reaching Rs. 1.66 billion compared to Rs. 1.33 billion in the same period last year. Gold now accounts for 1.2% of total imports, reflecting a renewed appetite among Nepali households and investors for the yellow metal.

Experts say the surge in gold imports is tied to several key factors. First, gold continues to be viewed as a safe-haven asset during times of economic uncertainty. With inflationary pressures, political instability, and a volatile stock market, many Nepalis are turning to gold as a secure store of value. Secondly, the rise of festive demand and cultural traditionsplays a strong role. With major festivals and wedding season approaching, jewelry demand naturally surges, boosting imports.

Another factor is the global price trend. Although gold prices remain relatively high, Nepali buyers still see it as a hedge against weakening purchasing power and currency depreciation. For wealthy households, gold also serves as a status symbol and long-term asset, while small investors are increasingly buying smaller quantities as savings.

However, economists caution that rising gold imports may worsen Nepal’s trade deficit and put pressure on foreign exchange reserves. While gold strengthens household wealth security, overdependence on imported precious metals limits investment in productive sectors.