Russia-Ukraine crisis makes gold rate shoot to 1.5 lakhs - More details here!

As Russia's war on Ukraine, commodity prices, including crude oil and gold, have risen sharply. In this context, the increase in the price of one sovereign gold in Sri Lanka to 1.5 lakhs has come as a shock to the people.

Russia - Ukraine War

Ukraine is facing the worst attack in contemporary history. Russia has vehemently opposed Ukraine's interest in the Internet with NATO. Meanwhile, Russian President Vladimir Putin announced on February 24 that he would launch a war on Ukraine.

Falling stock market

Global stock markets plummeted due to Russia's declaration of war. Similarly, the price of crude oil continues to rise. Most investors have started investing money in gold as the cryptocurrency market has also declined. The impact of this is reflected in the price of gold.

In Sri Lanka, which has been facing many economic problems in recent times, one sovereign gold is being sold for 1.5 lakh rupees. The 24 carat gold sovereign is selling for Rs 1.5 lakh and the 22 carat gold sovereign for Rs 1.39 lakh. The general public is deeply concerned.

What is the situation in India?

Jewelery gold was trading at Rs 4831.00 a gram in Chennai yesterday, down 31 rupees to Rs 4792.00 a gram today. Similarly, in Chennai, jewellery gold was sold at Rs 38648.00 a sovereign yesterday, down 312 rupees to Rs 38336.00 in a single day today.

The price of silver in Chennai yesterday was Rs. At Rs 72.80, the rupee today fell by 50 paise to Rs 72.30 per gram. Today, the price of a kilogram of silver is Rs 72300.00.