Gold Prices Today: Local Dip, Global Uncertainty (June 29, 2025)

Local Gold Market Snapshot – Sri Lanka

The Sri Lankan gold market witnessed a noticeable correction this week, in line with global pricing trends.

Table of Contents

Purity	Price per gram	Weekly Change
24K	LKR 31,559.11	↓ ~2.6%
22K	LKR 28,920.00	↓ ~2.9%

💡 Gold Ounce (Global Equivalent): ~LKR 981,300–982,000
📌 Local Pawnshop Rate (22K, ≈8g): LKR 244,200 – Reported by Ravi Jewellers

📝 Analysis:

This weekly decline follows the trend of international gold prices and reflects cautious consumer behavior locally. Jewelers are adjusting rates accordingly, with the high volatility offering both buying opportunities and uncertainty for short-term traders.

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🌐 Global Market Conditions

📉 COMEX Spot Price (U.S.): $3,273.55/oz

• Decline of ~1.3% from last week.
• Pressure caused by:
  • Strengthening U.S. dollar
  • Pause in geopolitical tensions (e.g., Middle East ceasefire)
  • Rising U.S. Treasury yields

📊 Commodity Trend Recap:

• Gold eased slightly while platinum rallied.
• Demand for safe-haven assets like gold weakened as equity markets gained strength.
• Inflation remains a concern, but investors currently favor risk-on strategies.

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🔍 Analyst & Institutional Outlook

🔸 Citi Forecast:

• $3,100–$3,500/oz range expected in Q3 2025.
• Potential decline below $3,000 by late 2025 due to weaker global demand.

🔸 SSgA View (Bullish):

• Sees $3,000/oz as new support.
• Suggests long-term upside potential to $4,000/oz under bullish conditions.

🔸 Technical View – FXEmpire:

• Gold has dipped below its 50-day moving average, confirming short-term bearish signals.
• $3,245/oz is key support. Breaching this could trigger another selloff phase.

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🧠 What This Means for Different Stakeholders

👨‍👩‍💼 Local Buyers and Jewelers

• With 24K gold down to LKR 31,500/gram, now may be a favorable buying window, especially for weddings or savings investments.
• But factor in value-added costs (labor, custom duties).

📉 Short-Term Traders

• The technical setup is clearly bearish.
• Consider sell-on-rally strategies or watching for support breakdown near $3,245/oz.

📈 Long-Term Investors

• Stay alert for macro indicators like:
  • Fed interest rate policies
  • Inflation data
  • Global conflict resurgence
• Potential dip to $3,000/oz could be a long-term buy opportunity.

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📋 Summary Table

Segment	Price/Trend	Key Takeaway
Sri Lanka 24K	LKR 31,559/gram ↓	Buy zone for local consumers
Global COMEX	$3,273.55/oz ↓	Bearish in short-term; key support $3,245
Analyst View	$3,100–$3,500 range	Risk to $3,000; long-term bullish potential

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📰 Related News Today

• Gold Prices Crash Rs 33,300 in India in 6 Days – goodreturns.in
• Impact of Customs Duty Cut on Gold Prices – goodreturns.in
• Bearish Technical Setup Confirmed – fxempire.com

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#Final Thoughts

Gold’s current decline presents a double-edged sword: it creates opportunities for patient long-term investors but also signals caution for short-term traders. Whether you’re a local buyer in Sri Lanka or a global investor, the key is to track support levels and macroeconomic developments closely.

Bookmark this blog for weekly updates on gold prices and professional insights!

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