According to traders at the Colombo Pettah gold market, the price of a 22-carat gold sovereign has fallen by approximately Rs. 20,000. The price dropped to Rs. 368,000 this morning, compared to Rs. 386,400 yesterday (29).
Meanwhile, the price of a 24-carat gold sovereign has also seen a notable reduction. Market sources reported that the price decreased to Rs. 400,000 today from Rs. 420,000 yesterday.
Traders attribute the decline to fluctuations in the international gold market, noting that local prices tend to closely follow global trends. Further price movements are expected to depend on global economic conditions and currency fluctuations in the coming days.
