Gold Price in Sri Lanka: A Comprehensive Overview and Best jewellery shops in Sri Lanka

In recent years, the fluctuating gold prices have garnered significant attention, with individuals and investors closely monitoring the market trends. Sri Lanka, a country known for its rich history and cultural heritage, is no exception to this phenomenon. The gold price in Sri Lanka, influenced by both global and local factors, holds a vital place in the economic landscape of the nation.

22 Carat 8 Grams ( 1 Pawn ) Gold Price Today in Sri Lanka is around LKR.184,550 as of 17th April 2024 You can buy 22 Carat 1 Gram of Gold for LKR.23,070.00 Carat 8 Grams Gold rate is Rs. 184,550.00

Gold Ounce - Rs. 713,245.00

24 Carat 1 Gram - LKR. 25,160.00

24 Carat 8 Grams ( 1 Pawn ) - LKR. 201,300.00

22 Carat 1 Gram - LKR. 23,070.00

22 Carat 8 Grams ( 1 Pawn ) - LKR. 184,550.00

21 Carat 1 Gram - LKR. 22,020.00

21 Carat 8 Grams ( 1 Pawn ) - LKR. 176,150.00

"Findit.lk" is the local directory website that could potentially help you find information about gold prices and jewelry shops in Sri Lanka. Here's how you might go about using it:

Prices for the last month of 2023

Date Gold Ounce 24 Carret 1g 22 Carret 1g 22 Carret 8g 21 Carret 1g

2023-09-01 Rs. 621,995.00 Rs. 21,950.00 Rs. 20,130.00 Rs. 161,000.00 Rs. 19,210.00

2023-08-31 Rs. 629,432.00 Rs. 22,210.00 Rs. 20,360.00 Rs. 162,900.00 Rs. 19,440.00

2023-08-29 Rs. 623,668.00 Rs. 22,000.00 Rs. 20,170.00 Rs. 161,350.00 Rs. 19,250.00

2023-08-28 Rs. 621,704.00 Rs. 21,930.00 Rs. 20,110.00 Rs. 160,850.00 Rs. 19,190.00

2023-08-25 Rs. 622,398.00 Rs. 21,960.00 Rs. 20,130.00 Rs. 161,050.00 Rs. 19,220.00

2023-08-24 Rs. 622,974.00 Rs. 21,980.00 Rs. 20,150.00 Rs. 161,200.00 Rs. 19,240.00

2023-08-23 Rs. 617,049.00 Rs. 21,770.00 Rs. 19,960.00 Rs. 159,650.00 Rs. 19,050.00

2023-08-22 Rs. 615,491.00 Rs. 21,720.00 Rs. 19,910.00 Rs. 159,300.00 Rs. 19,010.00

2023-08-21 Rs. 612,158.00 Rs. 21,600.00 Rs. 19,800.00 Rs. 158,400.00 Rs. 18,900.00

2023-08-18 Rs. 610,790.00 Rs. 21,550.00 Rs. 19,760.00 Rs. 158,050.00 Rs. 18,860.00

2023-08-17 Rs. 609,113.00 Rs. 21,490.00 Rs. 19,700.00 Rs. 157,600.00 Rs. 18,810.00

2023-08-16 Rs. 612,767.00 Rs. 21,620.00 Rs. 19,820.00 Rs. 158,550.00 Rs. 18,920.00

2023-08-15 Rs. 613,008.00 Rs. 21,630.00 Rs. 19,830.00 Rs. 158,650.00 Rs. 18,930.00

2023-08-14 Rs. 612,787.00 Rs. 21,620.00 Rs. 19,820.00 Rs. 158,550.00 Rs. 18,920.00

2023-08-11 Rs. 613,831.00 Rs. 21,660.00 Rs. 19,860.00 Rs. 158,850.00 Rs. 18,960.00

2023-08-10 Rs. 615,848.00 Rs. 21,730.00 Rs. 19,920.00 Rs. 159,400.00 Rs. 19,020.00

2023-08-09 Rs. 620,556.00 Rs. 21,890.00 Rs. 20,070.00 Rs. 160,550.00 Rs. 19,160.00

2023-08-08 Rs. 622,935.00 Rs. 21,980.00 Rs. 20,150.00 Rs. 161,200.00 Rs. 19,240.00

2023-08-07 Rs. 619,332.00 Rs. 21,850.00 Rs. 20,030.00 Rs. 160,250.00 Rs. 19,120.00

2023-08-04 Rs. 617,515.00 Rs. 21,790.00 Rs. 19,980.00 Rs. 159,800.00 Rs. 19,070.00

2023-08-03 Rs. 609,874.00 Rs. 21,520.00 Rs. 19,730.00 Rs. 157,850.00 Rs. 18,830.00

2023-08-02 Rs. 633,828.00 Rs. 22,360.00 Rs. 20,500.00 Rs. 164,000.00 Rs. 19,570.00

2023-07-31 Rs. 645,981.00 Rs. 22,790.00 Rs. 20,900.00 Rs. 167,150.00 Rs. 19,950.00

2023-07-28 Rs. 643,483.00 Rs. 22,700.00 Rs. 20,810.00 Rs. 166,500.00 Rs. 19,870.00

2023-07-27 Rs. 653,616.00 Rs. 23,060.00 Rs. 21,140.00 Rs. 169,150.00 Rs. 20,180.00

2023-07-26 Rs. 647,903.00 Rs. 22,860.00 Rs. 20,960.00 Rs. 167,650.00 Rs. 20,010.00

2023-07-25 Rs. 647,085.00 Rs. 22,830.00 Rs. 20,930.00 Rs. 167,450.00 Rs. 19,980.00

Finding Current Gold Price in Sri Lanka on Findit.lk:

1. Visit the Website:
2. Go to the Findit.lk website (www.findit.lk).
3. Search for Gold Prices:
4. Use the search bar on the website to search for "gold price in Sri Lanka" or something similar. This might lead you to pages or sections that provide information about current gold prices.
5. Explore Finance or Market Categories:
6. Look for categories related to finance, commodities, or markets on the website. These sections might have information about precious metal prices, including gold.

Finding Best Jewelry Shops in Sri Lanka on Findit.lk:

1. Visit the Website:
2. Go to the Findit.lk website (www.findit.lk).
3. Search for Jewelry Shops:
4. Use the search bar to search for "jewelry shops in Sri Lanka" or related terms. You might find listings of jewelry shops available on the platform.
5. Explore Business or Shopping Categories:
6. Check out categories related to businesses or shopping. Within these categories, you might find listings for jewelry shops with details about their offerings, location, and contact information.
7. Read Reviews and Ratings:
8. If available, read the reviews and ratings provided for each jewelry shop listed on Findit.lk. This can give you insights into the experiences of others who have visited these shops.

These steps should give you a general idea of how to navigate the website to find gold prices and jewelry shops in Sri Lanka.

Understanding the Dynamics of Gold Prices

Global Factors Impacting Gold Prices

Gold is often referred to as a safe-haven asset, particularly during times of economic uncertainty. Factors such as geopolitical tensions, inflation, and currency fluctuations play a pivotal role in determining the value of gold on a global scale. As economies face challenges, investors tend to flock to gold as a store of value, driving its price upwards.

Local Factors Shaping Gold Prices in Sri Lanka

Beyond global influences, several local dynamics contribute to the fluctuation of gold prices in Sri Lanka. These include import duties, taxes, and regulations imposed by the government, as well as supply and demand trends within the country. Moreover, cultural practices, such as weddings and festivals, often lead to increased gold purchases, impacting prices at specific times of the year.

Historical Trends and Patterns

A Walk Through History: Gold's Significance in Sri Lanka

Gold has held immense cultural and religious significance in Sri Lanka for centuries. It has been used not only as a symbol of wealth and prosperity but also as an integral part of traditional attire and adornments. The historical reverence for gold continues to influence its demand and pricing in the modern era.

Analyzing Price Patterns

Over the past decade, the gold market in Sri Lanka has exhibited intriguing price patterns. While there have been periods of steady appreciation, there have also been instances of sudden price drops. These patterns are often a result of the intricate interplay between global economic conditions, local demand, and government policies.

The Role of Government Policies

The Sri Lankan government plays a crucial role in regulating the gold market. Import duties, taxes, and licensing requirements are among the tools used to manage the flow of gold within the country. Government policies have a direct impact on the final price that consumers pay for gold, making it imperative to closely monitor any policy changes.

Investor Sentiment and Gold Prices

Gold as an Investment Avenue

Many Sri Lankans consider gold not only as a cultural symbol but also as an investment opportunity. The perception of gold as a safe-haven asset often drives investors to diversify their portfolios, especially during times of economic volatility. This increased demand can lead to upward pressure on prices.

Navigating Price Volatility

Investors in Sri Lanka must navigate the inherent volatility in gold prices. While gold can offer substantial returns over time, its value can also experience sudden fluctuations. This dynamic nature requires investors to adopt a long-term perspective and not be swayed by short-term price movements.

The future of gold prices in Sri Lanka remains intertwined with a multitude of global and local factors. As the nation's economy continues to evolve, so too will the dynamics influencing gold prices. Whether as a cultural emblem, an investment, or a financial safety net, gold's allure is likely to endure.

Frequently Asked Questions

• Is gold considered a good investment in Sri Lanka?
• Absolutely, many Sri Lankans view gold as a reliable investment option due to its historical significance and potential to hedge against economic uncertainties.

• What factors contribute to sudden fluctuations in gold prices?
• Sudden changes in global economic conditions, geopolitical events, and shifts in investor sentiment can all lead to rapid shifts in gold prices.

• How do government policies impact the gold market?
• Government policies, including import duties and taxes, can directly affect the cost of gold for consumers and influence market demand.

• Are there optimal times to buy gold in Sri Lanka?
• While cultural events like weddings and festivals can influence gold demand and prices, there's no foolproof timing for purchasing gold due to its volatile nature.

• Can I rely on gold prices as a predictor of economic trends?
• While gold prices can offer insights into market sentiment, they should not be solely relied upon as indicators of broader economic trends.