Gold Price Rise in Sri Lanka Slows Despite Global Surge

COLOMBO (News 1st) - The National Gem and Jewellery Authority says the pace of gold price increases in Sri Lanka has slowed compared to the sharp rise seen in the global market.

Deputy Director of the Authority, Indika Bandara, said a 24-carat gold sovereign is currently selling at around Rs. 357,000 in the local market.

He noted that global gold prices are at a historic high, with the price of an ounce reaching USD 4,479 yesterday.

However, Indika Bandara added that gold prices are expected to continue rising after the Christmas season.