Gold price slumps as traders face global metals market freefall

Sunday, 21 April 2013 - 8:10



The biggest plunge in the gold price for more than 30 years has wiped 1 trillion Dollars off the value of global reserves of the precious metal, leaving small investors reeling as popular funds have lost a fifth of their value in just a matter of weeks.


In hectic selling that began last Friday, the price has dropped from 1,580 Dollars an ounce to 1,380, dragging other metals down.


Silver has sunk from 28 Dollars to 23, while copper is down from $7,500 to $7,100 a tonne.

Gold price goes up further
Sunday, 05 July 2020 - 8:29

The gold price in the world market has risen further as the commodity remains a safe investment in view of the global economic instability due to the Covid-19... Read More

Central Bank approved Rs. 53 billion for 20,240 COVID-19 affected Businesses
Saturday, 04 July 2020 - 20:02

The Central Bank, in consultation with the Government of Sri Lanka, has introduced the Saubagya Covid-19 Renaissance Loan Scheme to provide working capital... Read More

Sri Lanka Rupee appreciates against US dollar
Saturday, 04 July 2020 - 8:17

The Sri Lanka Rupees appreciated against the US dollar yesterday (04).Ending the day, the SLR was 188.38 a US dollar. Read More