Gold prices in Sri Lanka have witnessed a notable decline, with local rates dropping by Rs. 13,000 in line with weakening trends in the global gold market, according to the latest trading data.
At the Sea Street gold market in Colombo, the price of a 22-carat gold sovereign fell to Rs. 376,500 this morning (04), down from Rs. 388,500 recorded yesterday (03).
Traders also reported a significant reduction in the price of a 24-carat gold sovereign. After being priced at Rs. 420,000 the previous day, it has decreased to Rs. 407,000 today.
Market observers attribute the drop to downward movements in international gold prices, which have directly influenced domestic trading rates.
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