The price of gold in Sri Lanka has recorded a significant decline, driven by a sharp drop in the world market.

For the first time in weeks, a 22-carat gold sovereign is currently quoted at Rs. 298,000 in the Colombo Pettah market. 

This marks a decrease of Rs. 81,200 compared to the price of Rs. 379,200 recorded on 17 October.

Similarly, the price of a 24-carat gold sovereign has fallen from Rs. 410,000 to Rs. 322,000 as of today(28).