Kathmandu, December 1:

Gold price in the domestic market has witnessed a decline of Rs 345 per 10 gram at the closing of this week’s trading. The precious yellow metal in the local market closed at Rs 16,545 from the opening price of Rs 16,890 this week.

The trading of hallmark gold closed at Rs 16,930 on the second day from the opening of Rs 16,890, however it went up to Rs 16,975 on the third day, dropped to Rs 16,720 on the fourth day and Rs 16,630 on the fifth day and closed at Rs 16,545 on the final day of the trading, according to Nepal Gold and Silver Dealers’ Association’s (NEGOSIDA) weekly report. The gold price decline in the wake of improvement of US dollars and pressure on OPEC to hike crude output in international markets, states the NEGOSIDA’s report.

The price of silver also declined by Rs 6 per 10 gram at the closing of the weekly trading as it closed at Rs 309 from the opening price of Rs 315 per 10 gram.