Gold Rate Today in Sri Lanka
The table below shows the gold rate in Sri Lanka per pawn (sovereign, 8 grams) and per gram for 24K and 22K in rupees, at international parity. Jewellers in Colombo's Sea Street and elsewhere quote their own daily rates, which include local costs, plus making charges.
Live gold rate in Sri Lanka (LKR)
| Weight & purity | Price (LKR) |
|---|---|
| 24K gold · 1 pawn (8 g) | live |
| 24K gold · 1 gram | live |
| 22K gold · 1 pawn (8 g) | live |
| 22K gold · 1 gram | live |
| 21K gold · 1 pawn (8 g) | live |
| 21K gold · 1 gram | live |
| 18K gold · 1 pawn (8 g) | live |
| 18K gold · 1 gram | live |
International parity from XAUUSD × USD/LKR. Local jewellers' rates include import costs and margins and can be higher; making charges are extra. How we calculate
How the Sri Lankan gold rate is formed
Sri Lanka imports its gold, so the local rate follows the world price in dollars multiplied by the rupee exchange rate. Jewellers and bullion dealers, particularly those in Colombo's Sea Street, publish daily rates per pawn for 24K and 22K gold, and the rest of the island broadly follows them. Local rates usually sit above the parity shown here because of import costs, taxes and dealer margins; import rules have been tightened and loosened at various times, which can widen or narrow the gap.
The rupee matters as much as gold. During periods when the rupee fell sharply, local gold prices rose much faster than the dollar price, and the reverse happened when the rupee recovered. The chart above shows the combined effect.
The pawn (sovereign) and karats
| Measure | Weight | Notes |
|---|---|---|
| 1 pawn (sovereign) | 8 g | The standard unit in Sri Lankan price quotes |
| 24K | 99.9% | Bars and coins |
| 22K | 91.6% | The standard for Sri Lankan jewellery |
| 18K | 75% | Stone-set and imported designs |
The pawn comes from the British gold sovereign, which weighs just under 8 g, and the same 8 g unit is used in south India. See our Chennai and Kerala pages, where it is called a pavan.
Worked example
Suppose (illustratively) a Sea Street jeweller's 22K rate is LKR 293,000 per pawn and the making charge is LKR 15,000 per pawn.
| Item | Calculation | LKR |
|---|---|---|
| Rate per gram | 293,000 ÷ 8 | 36,625 |
| Chain, 3 pawn (24 g) | 3 × 293,000 | 879,000 |
| Making charge | 3 × 15,000 | 45,000 |
| Total before any tax | 879,000 + 45,000 | 924,000 |
Making charges vary by design and shop; some quote per pawn, some per gram and some as a percentage. Try your own numbers in the jewellery price calculator.
Reading 24K and 22K pawn rates
Sri Lankan rate lists show 24K and 22K per pawn side by side. The 22K figure should be close to the 24K figure multiplied by 0.916, since 22K is 91.6% gold. If a list shows 24K at LKR 319,600 per pawn (illustrative), the matching 22K figure would be about LKR 292,750. A larger gap means the dealer is adding more margin on jewellery-grade gold. The karat purity calculator makes this check quick.
Gold as savings and collateral
Pawning gold, borrowing against jewellery at a bank or licensed pawn broker, is widespread in Sri Lanka, and state and private banks run large gold-loan businesses. The amount advanced per pawn is set by each lender, below the market value of the gold, and changes as the gold price moves. Keeping gold in 22K jewellery or bars therefore serves both as savings and as a source of emergency credit. If you pawn, compare the interest rate, the advance per pawn and what happens if the gold price falls before you redeem.
Where Sri Lankans buy
Sea Street in Pettah, Colombo, is the island's best-known gold market, lined with jewellers, many of them long-established Tamil family businesses, and it is also where many daily rates originate. Kandy, Jaffna, Galle and other towns have their own jewellery streets. Bridal jewellery traditions differ: Kandyan bridal sets with layered necklaces are popular among Sinhalese brides, while the thali is central to Tamil weddings. Demand rises in the wedding season and around the Sinhala and Tamil New Year in April.
Checklist
- Confirm whether a quoted rate is for 24K or 22K and per pawn or per gram.
- Check the weight on the jeweller's scale and get it in grams on the receipt.
- Ask for the making charge separately from the gold value.
- Ask how much the shop deducts when buying back.
- Compare the jeweller's rate with the parity line above to see the local premium.