Gold jewelry prices in SL rise ahead of festive season

Some of the most popular gold items in Sri Lanka, including chains, bracelets, and rings, have increased by around Rs. 15,000 today.

“This is mainly due to the upcoming festive season demand, but we expect prices to dip in January,” said R. Balasubramaniam, Secretary of the All-Island Jewelers Association.

A 22-carat gold chain, previously priced at around Rs. 325,000, is now selling for Rs. 340,000. Bracelets have risen from Rs. 323,000 a week ago to Rs. 341,000, while a one-sovereign gold ring is trading at Rs. 360,000, up from Rs. 340,000 last week.

Although global gold prices recently hit record highs ahead of the festive season, local prices have not returned to previous peaks.

The highest gold price recorded in Sri Lanka was in June 2025, when a carat gold sovereign sold for around Rs. 410,000. Today, it trades at approximately Rs. 390,000 per sovereign.