Gold prices in Sri Lanka hit record highs amid global surge

Gold prices in Sri Lanka have climbed to their highest levels in history today (April 17), reflecting a global trend that has seen the price of gold soar to new records.

As of this morning, the price of a pound of 22 carat gold in Sea Street, Colombo 11 (Hettiweediya), the heart of Sri Lanka’s gold trade, has reached Rs. 242,000, marking an all-time high. Meanwhile, 24 carat gold has increased to Rs. 262,000 per pound.

Just yesterday (April 16), prices were significantly lower, with 22 carat gold priced at Rs. 238,300 and 24 carat gold at Rs. 259,000, indicating a sharp overnight rise.

This surge in local prices comes in response to the historic high in global gold markets, where the price of an ounce of gold has reached USD 3,345, the highest ever recorded.

Indika Bandara, Assistant Director at the Precious Metal Assaying and Hallmarking Office of the National Gem & Jewellery Authority (NGJA), explained that several global factors are behind this unprecedented rise. He noted that the announcement of tariffs by U.S. President Donald Trump has caused uncertainty in financial markets, pushing investors toward gold as a secure investment.

Other contributing factors include:

• A decline in the value of the U.S. Dollar
• Growing interest in gold as a safe haven asset
• Intensifying trade tensions between the U.S. and China

These global economic pressures have directly impacted gold prices worldwide, and Sri Lanka is no exception.

With prices continuing to rise, local jewelers and investors are closely monitoring market trends. Many anticipate further increases, depending on how international trade and currency markets evolve in the coming days.

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