High global gold price hikes up domestic gold price

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Gold jewelry seen at shop in downtown Yangon. Photo: GNLM/Phoe Khwar

The domestic gold price reached a record high of about Ks912,000 per tical as the global gold price has risen since 18th April, according to the local gold market.
The gold price continued to rise quickly during April in the global market, ranging from US$1,256 to 1,289 per ounce  between 11th and 18th April.
The domestic gold price is fluctuating, aligned with world market. The price fell under Ks900,000 per tical in early March, then back to above Ks900,000 per tical, in keeping with a hike in global gold market.
With a slump in global gold price, the domestic gold price again slipped to below Ks900,000 between 31st March and 3rd April. The local gold price remained on the rise to around Ks900,000 on 4th April. After the Thingyan festival holidays, the gold price hit a high of about Ks912,000 per tical on 18th April, according to the gold and jewellery shops.—Mon Mon

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