GOLD PRICE UPDATE - COLOMBO SRI LANKA

GOLD PRICES NO CHANGE IN SRI LANKA DESPITE DROP IN INTERNATIONAL MARKET

Colombo GOLDCeylon : Amid a drop of $ 40 per ounce in the world market, the gold prices in Colombo on Tuesday recorded an LKR 180500/= per pound, GOLDCeylon News reported.

According to the Kitco News , per tola price of the precious yellow metal decreased  to USD 1746.

Meanwhile, the US dollar on Tuesday 360 LKR  against rupee.

The price of gold never stays in the same range. Although there are some downsides in the short term, prices go up in the long run.

The geopolitical tension, coupled with the likely slowdown in the global economy and high inflation, can lead to major spike in gold prices.

In South Asian countries, gold has become an essential element of jewelry and investment. The use of gold has increased significantly, especially in India as well as in Sri Lanka.

In Sri Lanka, Gold price decides,
1.  World Gold Price
2.  US Dollar Exchange Rates
3  Available Stock of GOLD in Colombo Gold Markert (Colombo 11- Sea Street -Hettiweediya)

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Indika Bandara

*Affiliate Member -The American Society of Appraisers
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