With a high price in the global gold market, the domestic gold price hit its highest level of Ks910,000 per tical on Wednesday, according to the gold and jewellery shop owners.
The global gold price was US$1,254 per ounce while the domestic gold price was Ks902,000 per tical on Monday.
With an increase of global gold price up to US$1,278, the domestic gold price hit the all-time record high of Ks910,000 per tical on Wednesday.
The high price of domestic gold causes hesitation on the part of gold buyers, combined with the news of taxation on gold purchases. The market is traditionally cool during the Thingyan Festival, said the owners of the gold shops.