Local gold price exceeds Rs. 100,000 per sovereign

Thursday, 09 July 2020 - 17:05

For the first time, the local price of a 24-carat gold sovereign has risen over Rs. 100,000.

Also, the price of a 22-carat sovereign has gone up to Rs. 93,000, says the National Gem and Jewellery Authority.

The increases are due to the difficulties in gold importation with the Covid-19 pandemic situation.

Jewellers at New Chetty Street and elsewhere say they are facing a shortage of gold for their productions.

Market sources say the gold price could go up further.