Gold ornamental are displayed at a Gold and Jewellery shop in Yangon. Photo: Phoe Khwar
GOLD prices are increasing in Myanmar, reflecting global prices, according to gold market participants. On Saturday, the price of pure gold in Yangon was Ks916,000 per tical (or .578 ounce) compared to a global price of $1,284 per ounce, according to Aung Thamardi Gold and Jewellery Shop and Gold Refinery.
On Friday, the local gold price was Ks920,000 per tical, according to local gold merchants. Local gold prices broke Ks900,000 per tical on 20 July and Ks912,800 on 10 August.
The global gold price was $1,296 per ounce on 18 August, compared to $1,279 per ounce on 10 August, a July high of $1,268 per ounce and a July low of $1,205 per ounce. — Mon Mon