Slump in gold prices seen

The price of a sovereign of gold has decreased by about 10,000 rupees due to the further strengthening of   the rupee against the dollar after the country received the IMF credit facility. The jewellery shop owners in Sea Street, Colombo said that yesterday (22) the price of a gold sovereign dropped by around 10,000 rupees and accordingly the price of a 24 carat gold sovereign dropped to Rs.165,000 and the price of a 22 carat gold sovereign was Rs.151,250.

According to the Central Bank of Sri Lanka, yesterday (22) the selling price of one dollar was 330.16 rupees and the buying price of one dollar was recorded as 312.31 rupees.