Gold prices in Sri Lanka have seen a steep decline, falling by around Rs. 60,000 compared to last Friday (17). Traders at Colombo’s Pettah gold market report that prices dropped by about Rs. 20,000 in a single day today (22).
As of today, a 22-carat gold sovereign is priced at Rs. 322,000, down from Rs. 379,200 last Friday. Meanwhile, the 24-carat gold sovereign has fallen from Rs. 410,000 to Rs. 350,000.
Market analysts attribute the sharp drop to fluctuations in global gold prices and changes in local demand.
