October 11, Colombo (LNW): Gold prices in Sri Lanka have seen a notable surge, with an increase of approximately Rs. 5,000 reported today (11), compared to rates observed just a week ago. Traders in Colombo’s Pettah gold market confirmed the price hike, attributing it to both local demand patterns and shifts in global bullion markets.
As of this morning, the price of a 22-carat gold sovereign has reached Rs. 310,000, rising from Rs. 305,300 recorded the previous day. This uptick reflects growing market activity and a cautious response by buyers amid fluctuating economic indicators.
In parallel, the price of a 24-carat sovereign has moved from Rs. 330,000 on Friday to Rs. 335,000, according to industry sources. Dealers noted that the demand for high-purity gold remains steady, particularly ahead of the upcoming festive and wedding seasons, which traditionally see increased purchases of jewellery and gold investments.
Market analysts suggest that the domestic price adjustments are closely aligned with global gold price movements, which have been influenced by geopolitical tensions, currency volatility, and investor interest in safe-haven assets. With inflation concerns and economic uncertainties persisting in various regions, gold continues to attract attention as a store of value.
