Gold prices dipped globally over the week, with spot rates slipping amid strong U.S. dollar sentiment and reduced expectations of interest rate cuts. In Sri Lanka, prices held steady above LKR 1 million per ounce.
Gold Price Trend – June 16 to 20, 2025
| Date | Global Price (USD/oz) | Local Price (LKR/oz) | Trend |
|---|---|---|---|
| June 16 | ~$3,430 | LKR 1,018,688 | Stable |
| June 17 | ~$3,410 | LKR 1,018,720 | Slight dip |
| June 18 | ~$3,395 (approx.) | Data not published | Bearish pressure |
| June 19 | ~$3,370 (approx.) | Data not published | Further weakening |
| June 20 | $3,355.49 | Est. around LKR 1.017 M | Weekly decline |
Market Insight
Gold prices fell around 2.2% globally over the week, closing at $3,355.49/oz on June 20. Analysts cited stronger-than-expected U.S. economic data and waning hopes for a near-term rate cut by the Federal Reserve as primary drivers behind the decline. The dollar’s resilience also pressured precious metal prices.
In Sri Lanka, prices remained relatively flat, hovering above LKR 1.018 million per ounce early in the week, reflecting limited local volatility despite global softness.
Outlook
Analysts continue to recommend a cautious “sell on rise” approach, expecting moderate corrections as investors reassess inflation and interest rate trajectories. However, geopolitical uncertainties and central bank buying may offer some longer-term support.