Kathmandu, March 27:

In view of the international market for Nepali silver jewellery, those associated with this sector feel there could be a market for gold ornaments too.

“International trade of silver is increasing 10 per cent annually,” said Tej Ratna Shakya, president of Nepal Gold and Silver Dealers’ Association (NEGOSIDA).

According to data of the last six months, silver jewellery export was worth Rs 188 million, a growth of 16.45 per cent over the same period last year when export value was Rs 161.794 million. The contribution of silver jewellery to export items is 11.25 per cent, according to Federation of Handicraft Association of Nepal (FHAN).

“Although at present we are not exporting gold ornaments but it can be a good value-added export item,” said FHAN president Pushkar Man Shakya. “If only government were to allow our gold jewellery easy access to the international market, our items can be a most valued export item,” he added.

A few commercial banks do conduct gold transactions but that is not enough and the government should devise policies for gold export, said Shakya. At present, there are more than 10,000 people engaged in the gold jewellery business.

Gold price update

KATHMANDU: Gold this week opened at home at Rs 25,120 per 10 gram. Traded for the same price on Monday, the yellow metal fell to Rs 24,865 per 10 gram on Tuesday with another decline in price on Wednesday to rest at Rs 24,735. A slight increase occurred, with gold trading for Rs 24,780 per 10 gram on Thursday and closing at the same price price on Friday. . Meanwhile, silver traded for Rs 361 per 10 gram throughout the week. — HNS