Sri Lankan gold merchants have reported a surge in the price of gold yet again. According to local sources, the price of gold has increased by Rs. 2000 on March 31st. This means that the cost of a 22-karat sovereign has increased from yesterday’s rate of Rs. 163,800 to Rs. 165,600, while the price of a 24-karat gold sovereign has increased from Rs. 178,000 to Rs. 180,000.
This latest surge in gold prices follows a significant drop earlier in March, when a 22-karat sovereign cost Rs. 134,000 and a 24-karat gold sovereign cost Rs. 145,000 on March 9th, 2023. The increase has left many Sri Lankans wondering about the future of the gold market in the country.
As gold continues to be a popular investment option for many Sri Lankans, any change in its price is closely monitored. The reasons for this latest increase in gold prices are not yet clear, but it is expected to have an impact on the country’s economy and investment trends in the coming days.