Kathmandu, November 14:

This week, gold closed at Rs 19,205 per 10 gram - Rs 130 more than the opening price. The precious yellow metal this week had opened at Rs 19,075 per 10 gram. According to Nepal Gold and Silver Dealers’ Association (NEGOSIDA), economic recession is the major cause for fluctuating gold rates in the domestic market. There is also no improvement in the value of the US dollar.

This week gold per ounce in the international market decreased to $710 from $750 and later closed at $734 per ounce this week, said NEGOSIDA.

Gold this week opened at Rs 19,075 per 10 gram and remained at the same mark for two consecutive days - Monday and Tuesday - while displaying an increase of Rs 65 on Wednesday and amounting to Rs 19,140.

However, the price of gold on Thursday faced a fall of Rs 235, fixing it at Rs 18,905 per 10 gram. Gold closed at Rs 19,205 per 10 gram, a rise of Rs 300 in comparison to Thursday.

Meanwhile, silver opened at Rs 293 per 10 gram this week. It stayed stable on Monday and Tuesday. A decrease of Rs 1.50 in the silver rate was seen on Wednesday, taking it down to Rs 291.50. On Thursday and Friday there was a fall in price by Rs 2.50 and it slid to Rs 289 per 10 gram on Thursday and closed today at the same rate.