Gold prices show a significant drop today

Domestic gold prices recorded a notable decline today following two consecutive days of unchanged rates in the local market.

According to the All Ceylon Jewellery Merchants Association, the price of a twenty-four karat sovereign decreased by 5,000 rupees, bringing its current market value to 378,000 rupees. Simultaneously, a twenty-two karat sovereign sells at 347,800 rupees.

On a per-gram basis, the Jewellery Merchants Association stated that twenty-four karat gold stands at 47,250 rupees, while twenty-two karat gold pieces trade at 43,475 rupees.

Market sources indicated that these continuous fluctuations stem from shifts in the international gold market and the value of the United States dollar.