Kathmandu, April 13, 2006

The US State Department has authorised voluntary departure from Nepal for non-emergency US mission personnel and their families, at the recommendation of the US embassy in Kathmandu. The Department took the decision yesterday. “This authorisation means that non-emergency employees, their family members, and families of employees who must remain in their posts can opt for leaving Nepal in the coming days,” stated a notice issued by the American Centre today. The Embassy recommended this step following a week of widespread demonstrations, violence, and growing instability throughout Nepal. The US mission to Nepal includes the embassy, USAID, and the consular section and American Centre. The consular section and American Centre Library have been closed until further notice. The State Department has also updated its travel advisory warning for Nepal to alert US citizens to ongoing security concerns here. It stated that the Department of State continues to urge US citizens to defer non-essential travel to Nepal. “The Department of State remains concerned about the security situation in Nepal, and continues to urge American citizens to defer non-essential travel to Nepal,” stated the travel warning.

Bandh takes shine off bullion market

Kathmandu, April 13, 2006

Curfew imposed by the government has adversely affected sale in bullion market this week. Despite the demand for gold and silver not having increased during the week, prices have gone up. The price of 10 gram of gold today stands at Rs 13,975 which was Rs 13,890 only last Friday. The price of ‘gold and silver’ in the international market has been steadily increasing, fuelling the price of ornaments here in recent days. Tej Ratna Shakya, president of Nepal Gold and Silver Dealers’ Association (NGSDA), talking to The Himalayan Times said curfew has hit the bullion business hard. He said that this has come at a time when the price of gold per ounce has reached $600 in the international market. The rise in the price of gold in the international market has contributed to price escalation here as well, he added.

Shakya giving reasons for the rollercoaster ride of the bullion market said, “Speculations have contributed to it.” He attributed the price rise to inflationary pressure and weakening dollar. Despite share markets across the globe showing bullish tendencies, people are taking more interest in buying gold for security reason, he said. The continuous rise in the price of the yellow metal in the international market has been attributed mainly to the soaring prices of oil and uncertaintities in the Middle East, particularly in Iran.