Market sources say that the reason for the rise in gold prices is that gold jewellery manufacturers are hiding stocks of gold.
Leading gold jewellery makers have created an artificial shortage of gold in the market by hiding their stocks as gold imports have been restricted, raising the price of a pound, reports say.
When we inquired about this, the Secretary to the Ministry of Jewellery Associations S. M. Piyatissa stated that only the Bank of Ceylon has the authority to import gold.
He said the current shortage in the market will end with the imminent import of gold by the Bank of Ceylon.