Sri Lanka, March 24 -- Global gold prices have declined in recent days after reaching historic highs earlier this year, as rising inflation, geopolitical tensions and financial market pressures continue to influence the international market.

At the beginning of 2026, gold was trading at record levels, climbing to around USD 5,600 per ounce in late January, with some forecasts even predicting a rise towards USD 6,000. During the escalation of tensions between the United States and Iran, prices fluctuated between USD 5,000 and USD 5,200 per ounce.

However, despite expectations that the crisis would push prices higher, the upward trend weakened in recent weeks. According to the Sri Lanka Gem and Jewellery Association (SLGJA), gold prices d...