Nepal's central bank, Nepal Rastra Bank (NRB) has increased the quota of gold import by an additional 10 kg a day to 20 kilogram per day till July 7.

In a statement, NRB said this is in view with continued demand for the yellow metal during the marriage season.

However, Nepal Gold and Silver Dealers' Association (NEGOSIDA) said this move will not be enough as the marriage season will continue beyond the granted 30 days period and there will be a shortage of gold in the market.

According to the Association, per day gold requirement is in the range of 25-30 kg but if the additional quota of gold import by NRB ends, it will create a shortage of gold for the ongoing marriage season, which will continue till July 16.

Gold prices in Nepal remained below Nepal Rs 36,000 per tola at the beginning of this week despite international rate for gold has increased to $ 1,260 per ounce due to a weak dollar.

Gold