Kathmandu, Nov. 25 -- Nepal imported 12 times more gold in the first quarter than during the same period in the last fiscal year as people splurged on the precious metal for festivals and weddings, officials said.

According to the Trade and Export Promotion Centre, gold imports between mid-July and mid-October were worth Rs737 million. During the same time last year, imports amounted to Rs60 million.

Bullion traders said that the gold market that wore a deserted look just before Dashain has been witnessing a slight increase in demand despite the pandemic and increased prices.

The flurry of festivals in November and the approaching wedding season saw buyers rushing to bullion stores which, traders said, indicated that the market was ret...