Gold prices in the local market continued their upward trend yesterday (27), in line with a sharp increase in global gold rates.
In the international market, gold prices climbed to a record level, exceeding US$ 4,553 as of today.
Reflecting this global surge, gold prices in Sri Lanka increased for the second time today, pushing the total price hike for the day to Rs. 12,000.
Accordingly, a 22-carat gold sovereign was priced at Rs. 340,400 this morning at the Colombo Pettah Gold Market.
Meanwhile, traders at the Pettah gold market said that the price of a pound of 24-carat gold, which stood at Rs. 356,000 yesterday, has risen to Rs. 368,000 today.
Market analysts attribute the continued rise in local prices to volatility in global markets and strong international demand for gold.
