The price of gold which had drastically dropped over the last few days has reported an increase today, according to local gold merchants.
According to the gold merchants, the price of a 22-carat gold coin has increased up to Rs. 160,000 today, from the Rs. 134,000 reported last Thursday (09).
Meanwhile, the price of a 24-carat gold coin which was Rs. 145,000 on Thursday has also increased to Rs. 173,000.
The Assistant Director of the National Gem & Jewellery Authority Indika Bandara stated that the drop in gold prices was temporary.
“Gold prices dropped by Rs. 40,000 with the change in the US Dollar rate from Rs. 362 to Rs. 307. This showed a drastic reduction in gold prices, which is a temporary situation,” he added. (NewsWire)
