Gold prices gain again

The price of Gold has increased again after a sharp decline over the previous few days, the jewellery traders in Sea Street Colombo said.

Accordingly, the price of a 24-karat sovereign has increased to Rs. 173,000, whilst a 22-karat sovereign has increased up to Rs. 160,000 yesterday.

“Currently the prices have recovered slightly higher than what it was before good prices dropped. At the time prices dropped a 24-karat was at Rs. 185,000 and a 22-karat was at 172,000,” they told the Daily FT.

They said the price drop in Gold by Rs. 40,000 was due to the change in the dollar rate from Rs. 362 to. 307 and it was a temporary situation.

However, the traders said the business has picked up slightly.