Gold trade almost halts as its price reaches record high

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Mawlamyine, August (6)

The gold trade is almost at a standstill after a record high of over 2,400,000 kyats per tical in the Mawlamyine gold market, Mon State, the gold entrepreneurs told Than Lwin Times.

The price of pure gold, which was only around 2,200,000 Kyats per tical in late July, jumped to more than 2,400,000 Kyats on August 5.

Domestic gold prices have risen steadily since the dollar’s value soared as a result of the military council’s restrictions.

As a result, the price of gold is no longer stable and trading has almost stopped, he said.

The Yangon Gold Entrepreneurs Association has set a price of 2,080,000 kyats per tical of pure gold, but in the open market, it has reached a record high of over 2,400,000 kyats.

The price of gold, which was only around 1,300,000 kyats during the NLD government, has increased almost twice since the military coup, and price volatility is also occurring frequently.

News – Than Lwin Times

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