If you’ve shopped for gold jewellery in Sri Lanka, you’ve probably noticed that prices don’t stay the same for long. That’s because jewellery prices are directly linked to the gold rate, which can change daily and sometimes even within hours. In this article, we’ll explain how the gold rate works, what influences it, and how you can use this knowledge to make smarter jewellery purchases.
1. Understanding the Gold Rate
The gold rate is the market price for gold per gram based on its purity. In Sri Lanka, jewellery is most commonly made from 22K gold, which is about 91.6% pure. The rate for 22K will always be lower than the rate for pure 24K gold, but higher than 18K gold.
2. Why the Gold Rate Changes
Gold prices in Sri Lanka are influenced by:
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International gold prices – changes in global demand and supply.
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Currency exchange rates – when the Sri Lankan Rupee weakens against the US Dollar, gold prices often rise.
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Seasonal demand – weddings, festivals, and the New Year season often push rates higher.
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Import costs – taxes and duties can increase local prices.
3. How Jewellery Prices Are Calculated
When you buy a piece of gold jewellery, the price is made up of:
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Gold weight x current gold rate
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Making charges (for craftsmanship and design)
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Gemstone costs (if any)
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Taxes
Tip: Always ask your jeweller to break down the cost for transparency.
4. When is the Best Time to Buy?
There’s no fixed “cheap” time, but you can:
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Track daily gold rates to spot dips in price.
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Buy off-season when wedding demand is low.
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Plan purchases in advance instead of last-minute shopping.
5. Using the Gold Rate to Your Advantage
If you know today’s gold rate, you can:
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Negotiate better prices.
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Avoid overpaying.
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Time your purchases for maximum value.
The gold rate may seem like just a number, but it plays a huge role in how much you pay for jewellery in Sri Lanka. Staying informed not only helps you save money but also ensures you’re making a smart investment.