Nepal's Gold Market: A Decade Review
Summary
Gold prices in Nepal have surged over the past decade driven by global geopolitical tensions, central bank policies, and shifting economics, causing declining consumer demand despite rising minimum wages.
Key Points
- Gold prices in Nepal surged by 408.87% from Ashoj 2072 to Ashoj 2082, outpacing the rise in minimum wages.
- Nepal's gold imports have consistently decreased over the past years, dropping to 1389.51 KG in FY 2081/82 due to high prices and declining demand.
- Global factors such as Russia's asset freeze, US tariffs, and geopolitical tensions have contributed to increased gold prices internationally.
- Central banks worldwide, including Russia, China, and Japan, have increased their gold reserves, boosting demand and prices globally.
