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Rise in price of 24-carat gold

Sri Lanka's 24-carat gold price had risen to Rs. 62,000 for an 8.00 gram sovereign after a 15 percent tax hike by the government,.

Before the New Year, gold was trading around Rs.53,000 to Rs.54,000 for 8.00 grams, jewellers in Colombo said. Jewellery grade 22 carat gold was quoted around Rs.59,000 - Rs.60,000 a sovereign,up from around Rs.50,000- Rs.51.000 before the tax hike.