Chandra Kishor Gautam, president of Kaski Chapter of Nepal Gold and Silver Dealers Association (Negosida), said overall gold sales have come down by around 50 percent compared to a month ago.
There are total of 170 jewelers in Kaski district.[break]
Gold has been creating new records in the local market over the past few days. On Saturday, the yellow metal was traded at a new high of Rs 59,900 per tola (11.664 grams).
“Gold is slowly going beyond the reach of middle and lower middle class consumers. The number of buyers is going down even though major festivals are nearing,” said Dasharath Sunar, proprietor of Rupakot Jewelry at Mahendrapul, Pokhara. He also said price volatility has directed affected sales of golden jewelries in the market.
Arjun Sunar, proprietor of Pumdi Bhumdi Jewelry, said transaction in his shop has dropped by whopping 90 percent compared to last month. “Hardly one or two customers visit our shop these days,” added Sunar.
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