Shortage of Gold coins: NRB dismisses that it is reluctant to mint gold coins amid falling gold prices

Update: The mint division will distribute gold coins today and tomorrow through token system. Please, refer to the notice posted in the premises of mint division which is also published at the end of this article. The mint division of the Nepal Rastra Bank located at Sundhara, Khathmandu is responsible for the distribution of coins. Many People buy gold and silver coins from Mint division on the auspicious occasion of Laxmi Puja. This year the gold coins in mint division are not yet available for purchase. Usually, the division has been selling gold coins weighing 2 gm, 5 gm and 10 gm. The division has posted notice at the entrance of its office stating that the gold coins are not available due to technical difficulties. Neither notice nor employees from the division state when the gold coins will be made available again. According to the sources, the main reason for unavailability of gold coins is the falling prices of the gold. The central bank had bought gold at higher price than the current market rate. Thus, the NRB is reluctant to mint the gold coins. Trilochan Pangeni, spokesperson of the NRB, dismissed the reasoning that the NRB is reluctant to mint gold coins due to falling gold prices. Mr. Pangeni said," Few employees with technical expertise to mint gold coins have retired. The existing employees would give their best to mint the gold coins. Few gold coins may be available this year before Laxmi Puja." Whatever be the reason(s) behind the shortage of gold coins, the interested people to buy the gold coins will have one more queue to face during this crisis situation.