KATHMANDU, July 28 -- Gold price is Rs 35,000 per tola more expensive in Nepal than in India following the budget announcement by the union govt India

The price of gold in Nepal is significantly higher compared to India as the southern neighbor recently reduced customs duty on gold imports.

Announcing the Union Budget for the fiscal year 2024/25 last Tuesday, India's Finance Minister Nirmala Sitharaman slashed the customs duty by 6 percent. As a result, the price of the precious yellow metal rallied down in the Indian market in the past few days, reported Indian media.

Due to the revised customs rate, the price of gold has already dropped below INR 70,000 in the past few days. With India's recent revision in customs duty on gold import...