Nepal Rastra Bank suspends gold coin sales due to stock shortage

Kathmandu, November 6 Nepal Rastra Bank (NRB) will not sell gold coins on Friday after its stock ran out. The central bank had started selling gold and silver coins and medallions on Thursday ahead of Tihar. On the first day, it sold 4,500 gold asarfis, including those purchased by its own employees. NRB has been selling gold and silver coins every year on Dhanteras.

Last year, it sold only silver medallions due to a shortage of gold. This year, however, it purchased 35 kg of gold from commercial banks to resume the sale of gold asarfis. NRB spokesperson Guru Poudel said the central bank decided to suspend gold asarfi sales on Friday because the limited stock available for sale was exhausted on Thursday due to procedural complications and administrative hurdles. On Thursday, the central bank had allowed each individual to purchase one gold asarfi and up to two silver medallions.

Each gold asarfi weighs 2.5 grams, while a silver medallion weighs 10 grams. The gold asarfi was sold for Rs 65,400 and each silver medallion for Rs 3,800.