Silver Imports Surge 182 Percent

Silver imports increased by more than 182 percent in the first seven months of the current fiscal year compared to the same period last year.

Data released by the Department of Customs show that Nepal imported 82 tonnes of silver during the review period, up from 29 tonnes in the corresponding period of the previous fiscal year—an increase of 182.75 percent. In terms of volume, silver imports far exceeded gold imports during the period.

In contrast, gold imports rose modestly. Nepal imported 1.23 tonnes of gold in the first seven months of the current fiscal year, compared to 1.08 tonnes in the same period last year.

Diyesh Ratna Shakya, senior vice-president of the Federation of Nepal Gold and Silver Dealers’ Association, said soaring gold prices have discouraged imports. According to him, gold prices broke multiple records within the first seven months of the current fiscal year.

“As prices continued to hit new highs almost every day, Nepali consumers appear reluctant to invest in gold due to fears of potential losses,” Shakya said. “Business is less than half of what it used to be.”

He added that daily gold transactions, which previously stood at around 40–45 kg, have now fallen to about 20 kg. “Total daily transactions are barely reaching 20 kg. The market is extremely sluggish,” he said.

Meanwhile, prices of both gold and silver increased this week. According to the Federation, gold prices rose by Rs 5,600 per tola, while silver prices increased by Rs 375 per tola.

Fine gold was traded at Rs 310,300 per tola on Sunday, up from Rs 304,700 on Friday. The price of gold further increased to Rs 313500 per tola on Monday. Silver was traded at Rs 5,425 per tola on Sunday, compared to Rs 5,050 per tola on Friday, before rising to Rs 5595 per tola on Monday.

A silver trading company said investors have increasingly turned to silver due to the sharp rise in gold prices. Although silver prices have also been climbing, the relatively lower investment threshold—around Rs 400,000 to Rs 500,000 per kilogram—has attracted more investors seeking to safeguard their funds.

“Compared to the past, more people are showing interest in investing in silver,” the company representative said. “Indian media reports predicting record-breaking silver prices, similar to gold, appear to have influenced the Nepali market as well.”