November 13, Colombo (LNW): Gold prices in Sri Lanka have recorded a sharp rise, mirroring the surge in international markets where the price of the precious metal climbed past US$ 4,212 per ounce today (13), marking one of the highest levels seen this year.
Traders in Colombo’s Pettah gold market reported that the value of gold had jumped by approximately Rs. 10,000 within a single day, as investors worldwide flocked to the safe-haven asset amid ongoing global economic uncertainty.
As of this afternoon, the price of a 22-carat gold sovereign reached Rs. 310,800, up from Rs. 301,500 the previous day. Meanwhile, a 24-carat gold sovereign rose to Rs. 336,000 from yesterday’s Rs. 326,000.
Local jewellers attributed the surge to a combination of factors, including fluctuations in the US dollar, geopolitical tensions, and strong investor demand driving up global prices.
Market analysts suggest that if the international trend continues, local gold rates could see further increases in the coming days, with heightened activity expected ahead of the festive season.
