The Rare Decay D^0 -> gamma gamma

We present a calculation of the rare decay mode D^0 -> gamma gamma, in which the long distance contributions are expected to be dominant. Using the Heavy Quark Chiral Perturbation Theory Lagrangian with a strong g coupling as recently determined by CLEO from the D^* -> D pi width, we consider both the anomaly contribution which relates to the annihilation part of the weak Lagrangian and the one-loop pi, K diagrams. The loop contributions which are proportional to g and contain the a_1 Wilson coefficient are found to dominate the decay amplitude, which turns out to be mainly parity violating. The branching ratio is then calculated to be (1.0+-0.5)x10^(-8). Observation of an order of magnitude larger branching ratio could be indicative of new physics.