Gold prices in Sri Lanka exhibited notable fluctuations throughout the week of 5 to 9 May 2025, influenced by global market dynamics and local economic factors.
Daily Gold Prices (24K and 22K per Gram)
| Date | 24K Gold (LKR/g) | 22K Gold (LKR/g) |
|---|---|---|
| 5 May 2025 | Rs. 34,380 | Rs. 31,520 |
| 6 May 2025 | Rs. 32,683 | Rs. 30,979 |
| 7 May 2025 | Rs. 35,850 | Rs. 32,870 |
| 8 May 2025 | Rs. 34,710 | Rs. 31,820 |
| 9 May 2025 | Rs. 34,710 | Rs. 31,820 |
Weekly Overview
Early Week Decline: On 6 May, both 24K and 22K gold prices dipped, with 24K gold reaching Rs. 32,683 per gram and 22K gold at Rs. 30,979 per gram.
Midweek Surge: Prices peaked on 7 May, with 24K gold at Rs. 35,850 per gram and 22K gold at Rs. 32,870 per gram.
Stabilization: By the end of the week, prices stabilized, with 24K gold at Rs. 34,710 per gram and 22K gold at Rs. 31,820 per gram on both 8 and 9 May.(India Gold Rate)
Global Market Influence
The fluctuations in Sri Lankan gold prices mirror global trends, where gold has reached record highs due to geopolitical tensions and economic uncertainties. Analysts from Goldman Sachs and UBS predict that gold prices could rise to between $3,650 and $4,500 per ounce if recession risks materialize. Central bank demand and market volatility are key factors influencing these projections.
Implications for Consumers and Investors
The midweek surge in gold prices suggests a responsive market to global economic indicators. Consumers considering gold purchases may find opportunities during price stabilizations, while investors should remain vigilant of international market cues that could influence future price movements.