Gold prices in Sri Lanka have seen a major drop over the last three days due to a significant fall in global gold prices. In total, prices decreased by around Rs. 29,000 from Thursday (19) to today (21). On Thursday, prices dropped by Rs. 13,000, followed by a Rs. 6,000 decrease on Friday, and then another drop of Rs. 10,000 today. Analysts believe that the main reason for this decline is the global gold prices falling below US$5,000. The US dollar has also strengthened because of rising oil prices, investment disruptions, and the wider economic effects of the conflict in the Middle East, which has added to the price drop. However, experts suggest that this situation may not last long and anticipate that gold prices might increase again if global oil prices become stable.
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