Gold prices in Sri Lanka have recorded a significant decline over the past three days, mirroring a sharp drop in global prices.

Prices have fallen by around Rs. 29,000 in total from Thursday (19) to today (21), with daily decreases of Rs. 13,000, Rs. 6,000, and Rs. 10,000 respectively.

Market analysts attribute the drop to declining global gold prices, which have dipped below the $5,000 mark, along with the strengthening of the US dollar amid rising oil prices and ongoing tensions in the Middle East.

Analysts caution that the trend may be temporary, noting that prices could rebound once global oil markets stabilise.