As of 3:30 p.m., traders in the Colombo Pettah market reported that a 22-carat sovereign is selling at Rs. 303,400, marking a sharp increase from Rs. 290,500 recorded yesterday.
Similarly, the price of a 24-carat gold sovereign has surged from Rs. 314,000 to Rs. 328,000, reflecting the continuing upward trend in global gold markets.
Meanwhile, international gold prices soared past US$ 4,000 an ounce, reaching an all-time high. Analysts attribute the surge to investors seeking safe-haven assets amid growing economic and geopolitical uncertainties, as well as market expectations of further interest rate cuts by the U.S. Federal Reserve.
