Thousands Queue up at NRB to Buy Gold Coins on Dhanteras, Price Hits New Record

Tihar is a five-day festival that starts on Wednesday and is the second biggest celebration after Dashain. Nepalese celebrate it by cleaning their houses

People in Nepal are preparing to celebrate Tihar, the second biggest festival after Dashain, which begins on Wednesday. Nepalese celebrate the festival of lights by cleaning their houses, preparing traditional delicacies, buying new ornaments and utensils, and decorating their homes. People are decked up for Tihar with new clothes, gifts, sweets, and flowers.

On the occasion of Dhanteras, Nepal Rashtriya Bank was selling 2.5 gm gold coins on a first-come, first-buy basis, limited to one coin per person. Thousands of people stood in the queue since morning at NRB’s minting office at Babarmahal to purchase gold coins.

A man, who was in the queue from 8 am, could reach the entry gate at 3 pm to purchase a gold coin, while other buyers complained of standing in a long queue and doubting if they would be able to make it even after this long wait. Gold is considered auspicious and used in Laxmi Puja during the Tihar celebration.

Meanwhile, the price of gold has set a new record in the domestic market of Nepal. According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of gold has increased by Rs 1,500 per tola and reached Rs 168,500. Similarly, silver is being traded at Rs 2,105 per tola on Tuesday.