They agreed to reopen their shops after officials of Federation of Nepal Gold and Silver Dealers Association assured them of rise in supply quota. As many as 200 jewelry outlets in Pokhara had remained shut since Tuesday.
The government has increased daily import quota of gold to 20 kg for two months effective from Wednesday to ease supply of the yellow mental in the domestic market.
“We agreed to resume our business from today (Sunday) after officials of the federation assured us that they would raise supply by at least one kg per month," Nirmal Diyali, secretary of Nepal Gold and Silver Dealers Association, Kaski, said. "The supply, however, will still fall short of the demand."
According to Diyali, daily demand for gold in Pokhara hovers around 3 kg. With the rise in quota, gold supply in Kaski will rise to 13 kg per month.
Related story
Classic Diamond Jewelers Fashion Show in April
