Gold Imports Surge by 580% in the First Four Months of FY 2082/83

Nepal has witnessed an unprecedented rise in gold imports in the first four months of the current fiscal year 2082/83. According to the Department of Customs, gold imports have increased by 580% compared to the same period last year.

In the first four months of last fiscal year, Nepal imported 132 kg of gold, generating Rs. 28.55 crore in revenue. This year, gold imports during the same period surged to 902 kg, resulting in Rs. 1.57 billion in revenue. The total outflow of money spent on gold imports stood at Rs. 15.72 billion, a massive jump from last year's Rs. 1.42 billion.

300 kg Imported in Kartik Alone; Asoj Leads With 400 kg

One-third of the total gold imported in the first four months arrived during Kartik. As per customs data, 300 kg of gold was imported in Kartik alone.

By the end of Asoj, total gold imports had already reached 600 kg. After the Nepal Rastra Bank increased the gold import quota to 25 kg per day in the final week of Asoj, gold imports spiked rapidly in Kartik.

Among the four months, Asoj recorded the highest import volume with 400 kg of gold. Traders attribute this surge to heavy demand during Dashain and Tihar. In the months of Shrawan and Bhadra, gold imports remained steady at 100 kg each.

Price Rose by Rs. 58,000 in 50 Days—Yet Demand Remained Intact

Gold prices in Nepal have been rising sharply in recent months.
On Bhadra 11, the price of gold stood around Rs. 200,000 per tola. By Asoj 31, the price climbed to Rs. 258,000, an increase of Rs. 58,000 within just 50 days.

Despite the steep rise, consumer demand did not fall. Traders say the perception that prices would increase even further encouraged people to buy more gold.