Gold traders unaffiliated with gold and silver organizations can now purchase gold from commercial banks following a Supreme Court ruling. The current procedure for importing and selling gold, issued by Nepal Rastra Bank (NRB), required traders to obtain recommendations from professional associations such as the Federation of Nepal Gold and Silver Dealers Association or the Nepal Gem and Jewelry Association.

In response to a writ petition filed by Sagar Dhungana on behalf of Riddhi Siddhi Jewelers, the Supreme Court issued an interim order prohibiting discrimination against unaffiliated gold traders. The joint bench of Justices Nahakul Subedi and Til Prasad Shrestha stated: "If the other procedures specified in the guidelines for importing and selling gold are fulfilled, traders should not be barred from buying gold solely due to their lack of affiliation with a professional association."

Previously, commercial banks could only sell gold to traders recommended by recognized associations, a provision that many independent traders argued created a "syndicate system" and denied them fair market access. Advocates Shambhu Thapa, Krishna Thapa, and Uttamraj Pathak, representing the petitioner, contended that this restriction violated the constitutional right to conduct business.

In defense, advocates Rameshwor Bhandari and Suman Acharya argued on behalf of Nepal Rastra Bank, justifying the provision as a regulatory measure.

Narendra Kumar Gupta, director of Riddhi Siddhi Jewelers, welcomed the Supreme Court’s decision, calling it a victory for fair trade. "This order strikes against monopoly syndicates. Now, traders registered with state bodies, paying taxes, and conducting business independently can operate freely without being tied to any umbrella organization," he told New Business Age.

The ruling opens the door for greater inclusivity in the gold trading market, ensuring fair access for all traders who meet legal requirements.