Event (I): The price of gold has gone up in the local market.
Event (II): Indians have won several prizes in designing gold ornaments.

he increase in the price of gold (Event I) would be caused by broader market or economic factors, such as supply and demand or global market trends. 

On the other hand, Indians winning prizes for designing gold ornaments (Event II) is an achievement in craftsmanship and does not directly or immediately influence the price of gold. Therefore, Event I is an effect, but Event II is not the immediate or main cause of it.