LNP – Gold prices surge in Sri Lanka

The price of gold in the world market has reached its highest level in history.

Accordingly, it is reported that, as of today (17), the price of an ounce of gold in the global market has reached a historic high of USD 3,345.

Commenting on the surge, the Assistant Director of the Precious Metal Assaying and Hallmarking Office of the National Gem & Jewellery Authority (NGJA), Indika Bandara, said that following the tariff announcement made by U.S. President Donald Trump, the price of gold in the global market has surged to a new high.

He further stated that the factors contributing to the rise in global gold prices include the decline in the value of the U.S. Dollar, investors turning to gold as a safe-haven asset, and the escalating trade war between the U.S. and China.

Meanwhile, in line with the increase in global gold rates, gold prices in Sri Lanka have also reached record highs today.

According to GOLDCeylon Gold News Network, which provides reliable daily updates on gold prices in Sri Lanka, the price of a pound of 22-carat gold in Sea Street, Colombo 11 (Hettiweediya), the main bazaar of Sri Lanka’s gold industry, has reached an all-time high of Rs. 242,000 as of this morning.

The price of a pound of 24-carat gold has also risen to Rs. 262,000.

Meanwhile, yesterday (16), the price of 22-carat gold stood at Rs. 238,300, while 24-carat gold was Rs. 259,000 in the Sri Lankan market.