Gold, silver imports surge significantly, over Rs. 46 billion spent in seven months

By A Staff Reporter,Kathmandu, Mar. 8: Nepal’s imports of gold and silver have surged significantly in the first seven months of the current fiscal year despite record-high prices in the domestic and international markets.

According to trade statistics from the Department of Customs, the country imported gold and silver worth Rs. 46.34 billion during the first seven months of the current fiscal year, compared to Rs. 16.33 billion during the corresponding period of the last fiscal year.

Gold imports increased moderately in terms of quantity but rose sharply in value due to soaring prices.

The country imported about 1,220 kilograms of gold during the first seven months (mid-July 2025 to mid-February 2026) of the current fiscal year 2025/26. 

In terms of quantity, this is almost 16 per cent (168 kilograms) higher than the gold imported during the corresponding period of the last fiscal year. 

About 1,052 kilograms of gold was imported during the first seven months of fiscal year 2024/25.

In terms of monetary value, the country spent almost double on the import of an additional 168 kilograms of gold during the first seven months of the current fiscal year compared to the same period last fiscal year. 

This increase is attributed to the hike in gold prices in the international market.

The country spent Rs. 22.34 billion on the import of 1,220 kilograms of gold during the first seven months of the current fiscal year, while only about Rs. 12.33 billion was spent on importing 1,052 kilograms during the corresponding period last fiscal year.

The country imported just 1,622 kilograms of gold between mid-July 2024 and mid-July 2025 — a significant 45 per cent drop compared to the previous fiscal year 2023/24.

In fiscal year 2023/24, Nepal imported 2,909 kilograms of gold. The total value of gold imports also fell by 23.15 per cent, from Rs. 25.95 billion in 2023/24 to Rs. 19.94 billion in fiscal year 2024/25.

The increase in imports also contributed to government revenue. 

The government collected Rs. 2.23 billion in revenue from gold imports during the review period.

According to gold market expert Tej Ratna Shakya, demand for gold and silver increased at the beginning of the fiscal year despite rising prices, as consumers anticipated further price hikes.

Gold prices reached a record high of Rs. 339,300 per tola in the domestic market at the end of January 2026. The price surged by more than Rs. 20,000 per tola in a single day. In the international market, gold prices climbed to USD 5,551 per ounce around the same time.

The surge in global prices has been linked to geopolitical tensions and new economic measures introduced by the President of the United States, Donald Trump.

Meanwhile, silver imports have surged significantly during the first seven months of the current fiscal year.

According to Customs data, about 82,407 kilograms of silver worth Rs. 24 billion was imported during the first seven months of the current fiscal year. 

In terms of quantity, silver imports surged by 182 per cent during the review period compared to the same period last fiscal year. 

Only about 29,159 kilograms worth Rs. 4 billion was imported during the first seven months of fiscal year 2024/25. 

In terms of value, silver imports were six times higher during the review period.

In fiscal year 2024/25, about 50,000 kilograms of silver worth Rs. 7.02 billion was imported. In fiscal year 2023/24, around 31,889 kilograms of silver worth Rs. 3.28 billion had been imported.

Shakya said the sharp increase in silver demand is largely due to rising gold prices, which have pushed many consumers toward more affordable alternatives.

“The demand for silver increased as consumers turned to more affordable options amid soaring gold prices,” he said, adding that silver prices have also been rising, though not as sharply as gold.

Silver prices in the domestic market recently reached a record high of Rs. 7,505 per tola.