The price of gold in both the local and global markets has soared to unprecedented levels, setting new records. As of today, April 22, the price of an ounce of gold in the global market has hit a historic high of USD 3,500.
Indika Bandara, Assistant Director of the Precious Metal Assaying and Hallmarking Office at the National Gem & Jewellery Authority (NGJA), commented on the ongoing surge. He explained that following the tariff announcement made by former U.S. President Donald Trump, the price of gold in the global market has reached new heights.
Several factors are contributing to the rise in gold prices, including the weakening value of the U.S. Dollar, growing interest in gold as a safe-haven asset, and the escalating trade tensions between the U.S. and China.
In line with the global trend, gold prices in Sri Lanka have also reached record-breaking levels. According to the GOLDCeylon Gold News Network, a trusted source for daily updates on gold prices in Sri Lanka, the price of a pound of 22-carat gold in Sea Street, Colombo 11, has surged to an all-time high of Rs. 255,000. The price of a pound of 24-carat gold has also risen to Rs. 277,000 today.
For comparison, yesterday, April 21, the price of 22-carat gold was Rs. 246,600, while the price of 24-carat gold stood at Rs. 268,000 in the Sri Lankan market.
