October 07, Colombo (LNW): Gold prices have reached an all-time high on the global market, crossing USD 3,950 per ounce for the first time in history, according to international trading data.
The milestone has triggered a sharp rise in domestic gold prices, with Sri Lankan markets witnessing significant increases over the weekend.
In Colombo’s Pettah gold market, the price of a 22-carat gold sovereign rose by approximately Rs. 8,000, now trading at Rs. 290,500 as of Monday morning, compared to Rs. 283,000 recorded on Saturday.
Similarly, the price of a 24-carat gold sovereign climbed from Rs. 306,000 to Rs. 314,000 over the same period.
Local traders attribute the spike to the unprecedented surge in global gold rates, driven by a combination of market uncertainty, inflationary pressures, and increased investor demand for safe-haven assets.
