Gold prices in Sri Lanka rose sharply on Tuesday, climbing Rs. 7,000 in a single session as international bullion surged to USD 4,648 per troy ounce.
A 22-carat gold sovereign at the Colombo Pettah market was recorded at Rs. 363,400, traders said, while a 24-carat sovereign rose from Rs. 388,000 a day earlier to Rs. 395,000, according to Newswire and Ada Derana.
The local move tracks a sharper rally in international markets, where bullion has hit successive record highs as investors seek a hedge against the prolonged Iran–US war and the resulting volatility in oil, equities and the dollar. Continued attacks on shipping in the Strait of Hormuz and the IMF’s warning that the war’s economic shock will persist for three to four months even after fighting ends have kept safe-haven demand elevated.
Local prices remain modestly below the post-Avurudu peaks of Rs. 369,900 for 22-carat and Rs. 402,000 for 24-carat recorded on April 15, despite Tuesday’s daily jump.
