A significant increase in gold prices has been reported in Sri Lanka.
According to gold dealers in Sea Street, Colombo, gold prices have seen a drastic rise.
They pointed out that the ongoing conflict between Ukraine and Russia has contributed to the soaring gold prices.
Thereby, a 24-carat gold coin has been priced at Rs. 150,000, while a 22-carat gold coin has been priced at Rs. 139,000.
Gold dealers have further revealed that the high price of gold has led to a shortage of gold in the local market.
However, the price of an ounce of gold in the global market has currently seen a drop to US$ 1,974. (NewsWire)