Kathmandu, December 19:

Gold this week opened Rs 985 higher than last week’s opening price in the domestic market. Last week, the opening price was Rs 19,890 per 10 gram whereas the this week it was Rs 20,875 per 10 gram.

Due to the global financial crisis and its negative effect on the American dollar resulting in the rise in demand for gold in the international market, gold this week in the international cost $834 per ounce though it had closed at $ 812 last week, said the Nepal Gold and Silver Dealers’ Association (NEGOSIDA). After opening at Rs 20,875 per 10 gram, gold stayed at the same price on Monday.

A slight rise of Rs 45 was observed on Tuesday and the same price stood steady on Wednesday. A rise of Rs 255 was observed on Thursday taking gold to Rs 21,175 per 10 gram. Gold closed at Rs 20,920 per 10 gram on Friday.

As the price of gold increased in the international market, the price in the domestic market also increased even though it closed at a price lower than the week’s peak high of Rs 21,175 per 10 gram, said NEGOSIDA.

Meanwhile, silver opened at Rs 291.5 per 10 gram and continued at the same rate for two consecutive days. It increased to Rs 296 on Wednesday. Another increase was

observed in its price, taking silver to Rs 300 per 10 gram on Thursday. Silver closed at Rs 300 per gram this Friday.