Gold and Silver Shops to Resume Operations After Week-Long Closure

After days of market disruption, gold and silver traders across the country have decided to resume business from Friday following a six-point agreement reached with the government.

The decision was made during a meeting held on Thursday at the Ministry of Finance between government officials and representatives of the Federation of Nepal Gold and Silver Dealers’ Associations.

The protest had begun after the government introduced a luxury tax on gold and diamond products through the budget for the current fiscal year. Traders demanded the removal of gold and jewellery from the list of luxury items, arguing it would harm small businesses and regular consumers.

Narendra Gupta, a representative of the traders’ federation, stated that all forms of protest have been withdrawn and that operations will return to normal starting Friday.

With this agreement, the traders have pledged to cooperate with the government and ensure smooth functioning of the precious metals market. The move is expected to restore stability to the sector, which had been hit hard by the shutdown.