News
Cost of a gold sovereign tops Rs. 400,000
The price of a 24-carat gold sovereign in Sri Lanka has surpassed Rs. 400,000 for the first time, reaching Rs. 410,000, the All-Island Gold Jewellers’ Association said yesterday (17).The price of a 22-carat sovereign has also climbed to Rs. 379,200, reflecting a Rs. 15,000 increase compared to the previous day.
Traders attribute the surge in local gold prices to a sharp rise in global markets. On 16 October, 2025, gold futures crossed $4,250 per ounce, boosting market capitalisation by an estimated $300 billion overnight.
Investors worldwide are turning to gold as a safe-haven amid economic uncertainty, a weakening US dollar, inflation concerns, and expectations of Federal Reserve rate cuts.
“The historic rally demonstrates gold’s enduring appeal during times of market volatility,” the Association noted, as the precious metal shines brighter than ever in both global and local markets.
The Cabinet of Ministers granted their concurrence to the resolution furnished by the Minister of Youth Affairs to appoint S. Achchudan of Special Grade of Sri Lanka Administrative Service, who is currently serving as an Additional Commissioner of Elections at the Elections Commission who is
recommended by the panel of interviewers to the post of Director General of the Sports Development Department with effect form 01.01.2026.
The Cabinet of Ministers granted approval to the proposal furnished by the Minister of Environment to publish the draft bill of the National Environment (Amended) Act in the government gazette notification and subsequently to submit the same to the Parliament for its concurrence.
The Cabinet of Ministers has approved the proposal presented by the Minister of Buddhism, Religious, and Cultural Affairs to provide tax relief on imported dates received as donations or gift for Ramadan.
This year’s Ramadan fasting season is scheduled to begin on 19-02-2026 and end on 21-03-2026.
Shafali, Renuka close in on top five in ICC T20I rankings
S. Achchudan appointed as Director General of the Sports Development Department.
Amendment of the National Environment Act No. 47 of 1980
Tax relief for Dates received as donations or gifts for Ramadan
Cabinet nod to establish the Sri Lanka Industrial Transformation and innovation Authority
Temporary employment of Sri Lankan labour in the State of Israel
‘Dates have the highest sugar content to fight Coronavirus’
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