Sri Lanka, July 16 -- The gold prices have declined in the international markets but the depreciation of the Sri Lankan rupee against the US dollar has limited the impact of the fall on the local gold prices, according to the Sri Lanka Gem and Jewellery Association (SLGJA).

Speaking to Mirror Business, SLGJA Jewellery Segment Head Sellakumar Kandasamy said the international gold prices have recently dropped to around US $ 4,000 per ounce, fluctuating between US $ 4,000 and US $ 4,100, with occasional dips below the US $ 4,000 level. The international gold price was around US $ 4,030 per ounce on June 15.

Kandasamy said the recent decline in the global gold prices was mainly driven by concerns over inflation in the United States, which ...