The price of a gold sovereign in Sri Lanka has increased in line with the upward trend in global gold prices, local market prices show. Traders at the Colombo Pettah gold market report that the price of a gold sovereign has risen by around Rs. 12,000, as reported yesterday (26).

Accordingly, the price of a 24-carat gold sovereign stood at Rs. 362,200, while a 22-carat gold sovereign was priced at Rs. 397,000. Meanwhile, in the global market, the price of gold has surpassed the $ 5,000 mark per ounce.

Economic analysts predict that gold prices may exceed $ 5,500 per ounce by the end of this year, driven by prevailing global economic conditions.