In the past, the high crowd in the gold market during festivals like weddings or Teej was not seen this year.
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The price of gold, which was traded at 2 lakh 10 thousand per tola last Friday, increased by 2 thousand to 2 lakh 12 thousand today. As the price of gold in Nepal has reached a historic high, there has been a decline in business. Traders say that the number of buyers of gold has decreased drastically in recent times.
In the past, the high crowd in the gold market during festivals like weddings or Teej was not seen this year. According to traders, this year's Teej business has decreased by around 99 percent. The price hike and the government classifying gold as a luxury item and adding a 2 percent 'luxury tax' have slowed the market Yes .
Gold shops open daily. They wait for customers all day, but customers don't come . Even occasional customers come back after hearing the price. Traders say that one day, the shop will have to be closed even if there is no Bohni till the evening.
Dan Bahadur Rasaili, the owner of Simon Sunchandi jewelery shop in Dhangadhi, is going through this pain . He says that the luxury tax imposed by the government has ruined the business. He said that as soon as the customers mentioned the luxury tax, they would fight with the businessmen saying, ``What tax should I pay?'' He wanted to do something in his own country and is looking for other options after falling into a business trap.
'The first business was good . Now it's quadruple . Customers come back saying they can't buy gold, they wear jewelry with a guarantee,' Rasaili says, 'After the government made a policy to kill businessmen, our option is to go abroad.'' He said that he is also the co-treasurer of the Kailali business due to the recession. Gold is not a luxury for generations He said. Vivek Soap, the owner of the goldsmith shop in Dhangadhi, said that during the peak season, only a few customers came to his shop. This year, customers hardly come. Another businessman involved in the
business said, "It is cheaper to buy gold in India, but there is a high possibility of fraud. This has made our business almost stand still." It is not only the Nepali market, but the gold price is also at risk He said that there is a risk of fraud. Bhairav is the owner of the jewelry store. He has not been able to pay the interest of the bank. He said that the remaining 3 people did not have a job. During the festival, we are at zero. How can we pay the rent and the staff in this situation? When the price of gold is 100,000,000,000,000,000,000,000,000,000, and 100,000,000 The businessmen have to pay 10 percent of the gold customs duty. But after adding 2 percent of the luxury tax to it, goldsmiths go to India to buy gold Not only in Kailali, this situation will have a long-term effect on the economy, but also on the gold market Giving, making a business-friendly policy by adjusting the high customs rate and suggested to tighten the surveillance at the border
