Gold Shortage witnessed in Chitwan

Chitwan, April 21 –  Shortage of gold has been witnessed in the Chitwan market after price freefall of the precious yellow metal.

The buyers have returned empty-handed due to lack of gold's availability in the market.

Central member of Nepal Gold and Silver Dealers' Association and proprietor of New Lokman and Sons Gyanendra Man Shakya said the business has halved due to gold dealers' failure to meet the buyers' demands.

He also said that the banks have also taken tight policy in gold's sale after decrease in the gold price. Though the gold dealers have been selling their deposits, they have not taken new orders for the jewelries.

Chairman of Chitwan chapter of Association Bipin Ram Dam said they were unable to meet buyers' expectations despite their wishes. He also said that demand for gold was unexpectedly high due to unexpected price fall.

He claimed that the traders have not hidden the gold stock and were selling by bearing loss.