Gold prices in Sri Lanka have surged, with 22-carat gold reaching Rs. 235,500 per pound and 24-carat gold hitting Rs. 256,000, traders at Sea Street reported today (11).

The rise follows a global rally as gold crossed $3,200 per ounce for the first time, driven by a weaker U.S. dollar and escalating trade tensions.

Spot gold climbed to an all-time high of $3,219.84, while U.S. gold futures rose to $3,237.50.

The dollar’s drop has made gold more attractive to global investors, further fueling demand.

The spike comes amid a deepening U.S.-China trade war, with tariffs and uncertainty pushing investors toward safe-haven assets like gold.