Gold and silver traders in Nepal have made their protest stronger by closing shops and not announcing daily gold and silver prices today, Asar 15. Usually, the prices are shared every morning around 10:30 AM, but today there was no price update because of the protest.
Traders are unhappy with new taxes in this year’s budget. The government added a 2 percent luxury tax on gold and a 13 percent VAT on jewelry with diamonds or precious stones. To show their disagreement, traders stopped setting prices and closed shops all over the country.
Not sharing the daily prices is the next step in their protest. With shops closed, buying and selling of gold and silver has stopped, affecting business across Nepal.
