Sri Lanka, April 8 -- Sri Lankan gold prices soared to new highs today, driven primarily by the continued surge in global gold prices and the depreciation of the Sri Lankan rupee.

Secretary of the All-Island Jewellers' Association, R. Balasubramaniam, said both international market trends and the weakening rupee have significantly contributed to the sharp increase in local gold prices.

He noted that a 24-karat gold sovereign, which was priced at Rs. 398,000 yesterday, jumped to Rs. 405,000 in less than 24 hours.

In the 22-karat category, the price of a gold sovereign rose to Rs. 372,600 from Rs. 366,000 recorded the previous day.

The price escalation has also been reflected in gold jewellery. A one-sovereign gold chain, which was arou...