COLOMBO (NewsRadio); The price of gold and gold jewelry in the local market is on a downward trend in the past few days.
Traders at Sea Street in Colombo have attributed the price reduction to the appreciation of the Sri Lankan Rupee against the US Dollar and a drop in rates in the work market.
Accordingly, a 22-karat gold sovereign is being priced at Rs. 147,000 today.
Furthermore, a 24-karat gold sovereign is sold for Rs. 160,000 in the local market.
The price of gold has come down considerably in the local market from the rates quoted in the early part of the year.
