KATHMANDU, Nov 10: The gold and silver traders have requested the Department of Commerce and Supply Management to issue guidelines on gold and silver business operations.
The delegation of Federation of Nepal Gold and Silver Dealers' Association, led by Manik Ratna Shakya, who went on Wednesday, said that the absence of a directory related to gold and silver traders has hindered the business operation and requested to issue direct guidelines.
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In that regard, Kamal Bhattarai, Director General of Commerce and Supply Management Department, said that he has taken the demand of traders positively and will take initiative to issue the guidelines soon. He has assured that the necessary study will be done and the process will be carried out quickly.
Due to the lack of clear guidelines on gold and silver business operations, businessmen have been in trouble. Meanwhile, the traders also requested the department to take necessary steps to adjust the supply system according to the market demand. Lately, gold and silver traders are in trouble due to lack of supply of gold according to the market demand. There is a shortage of gold in the market as Nepal Rastra Bank (NRB) has reduced the supply of gold showing the condition of foreign exchange reserves.
Recently, 10 kg of gold has been supplied daily through various banks. Businessmen say that the market demand is much higher than this.
