Sri Lanka Gold Prices Continue Upward Trend Amid Global Market Surge

Sri Lanka’s gold prices rose again today, driven by sustained momentum in the global bullion market, where international rates continue to hover near historic highs. Local traders report heightened activity across Colombo’s Pettah gold market and regional jewellery hubs, as both buyers and sellers respond to rapid price fluctuations.

Current Gold Prices in Sri Lanka

According to updated market data, gold prices across key purities have increased notably:

• 24K Gold: LKR 55,450.80 per gram
• 22K Gold: LKR 50,829.90 per gram
• 18K Gold: LKR 41,588.10 per gram

These figures reflect a 10.02% rise across all major purities compared to yesterday’s rates, marking one of the strongest single-day increases this month.

Market Drivers

Analysts attribute the surge to several global and domestic factors:

1. Global Gold Rally

International gold prices have remained elevated, with spot gold trading above USD 5,000 per ounce in recent days. This global rally has directly influenced Sri Lanka’s domestic pricing structure.

2. Currency Fluctuations

The Sri Lankan Rupee’s exchange rate against the US Dollar continues to shape local gold valuations. With the USD/LKR rate showing intraday volatility, import-linked commodities such as gold remain sensitive to currency movements.

3. Increased Domestic Circulation

Jewellers’ associations report that more gold—previously held in pawn centres and private vaults—is re-entering the market as sellers capitalize on high prices. This trend has slightly eased the need for new imports but has not slowed the upward price trajectory.

Historical Context

Sri Lanka’s gold prices have been climbing steadily over the past year. The highest recorded price for a 24K sovereign was around Rs. 410,000 in June 2025, a benchmark that current trends suggest may soon be tested again.

Consumer Impact

Jewellery Buyers

Finished jewellery prices have risen accordingly, with 22K bangles and chains now selling between Rs. 365,000 and Rs. 460,000, depending on workmanship and design.

Sellers & Investors

Many individuals are opting to liquidate gold assets to take advantage of the premium rates. Traders note a spike in foot traffic at gold-buying counters across major cities.

Pawn Market

The maximum pawning limit for 22K gold remains around Rs. 185,000 per sovereign, offering short-term liquidity but still below full market value.

Outlook

Economic analysts predict that if global conditions persist—particularly geopolitical tensions and currency instability—gold prices may continue their upward trajectory, potentially surpassing USD 5,500 per ounce internationally before year-end.