Gold holds steady, silver follows suit

KATHMANDU: This week, along with gold silver too broke its previous records with its trading price $16.90 per ounce.
According to Nepal Gold and Silver Dealers’ Association (NEGOSIDA), due to devaluation of the American dollar compared to euro and yen there was a sudden increase in the
gold price in the international market with gold
at $1000 per ounce and silver at $16.90 per ounce. There was an increment of $40 per ounce in gold trading price compared to the gold price last week.
The domestic gold market this week opened at Rs 25,335 per 10 gram on Sunday. Gold got traded for Rs 25,290 per 10 gram on Monday. Gold again priced at Rs 25,335 on Tuesday. With an increment of Rs 45 on Wednesday gold reached Rs 25,380 per 10 gram. On Thursday, the gold trading price was Rs 25,140 per 10 gram and the domestic gold market closed on Friday at Rs 25,335 per 10 gram.
Meanwhile, silver opened at Rs 408 per 10 gram on Sunday and remained at the same price on Monday.
With an increment
of Rs 7.50 silver was traded for Rs 416.50 per 10 gram while with another increment of Rs 5.50 on Wednesday silver priced at Rs 422 per 10 gram.
However there was a fall of Rs 3.50 silver in the domestic market on Thursday and silver priced at Rs 418.50. On Friday, it closed at Rs 418.50 per 10 gram, said NEGOSIDA.

Excellence awards set up for small businesses

KATHMANDU: SMElink Project by PlaNet Finance in collaboration with local project partners Federation of Women Entrepreneurs’ Association of Nepal (FWEAN) and Federation of Handicrafts Association of Nepal (FHAN) has instituted the much-awaited Small Entrepreneur Excellence (SEE) Awards.
Speaking at the award announcement programme, FWEAN president Pramila Rijal said that cottage and small-scale industries need to get easy market access not only at the domestic
level but also at the international level. According to her, about five lakh women entrepreneurs are engaged in cottage and small scale industries spread across the country.
Speaking on the occasion, former FHAN
president Pushkar Man Shakya said SMElink is designed so as to promote small scale industries at higher levels. The export scenario of Nepal is satisfactory but there is still the potential to double the export volume. “What we need is economic diplomacy to boost the export scenario of the country,” said Shakya.
Shakya also spoke about the upcoming handicrafts event. From November 5 to 8, FHAN in cooperation with PlaNet Finance will hold the eighth Handicraft Trade Fair and sixth Craft Competition.
The SMElink project
is funded by the European Commission in its Asia
Invest budget line that started in September
2007. SMElink is a three-project programme with the goal of fostering marketability and competitiveness of Nepalese Small and Medium Enterprises (SME’s) to enhance their export capacity in the European market primarily in three sectors — jewellery and metalcraft, pashmina and tourism.