19 January 2023
The domestic gold price, which soared to Ks-2.9 million per tical following the increase in global gold spot prices, dropped to Ks-2,770,000 per tical on 18 January, according to actual gold market.
The domestic gold price climbed to Ks-2.8 million per tical as of 10 January and continued to spike up to Ks-2.9 million per tical on 12 and 13 January.
The gold prices stood Ks-2,777,000 on 9 January, Ks-2,800,000 on 10 January, Ks-2,837,000 on 11 January, Ks-2,877,000 on 12 January, Ks-2,855,000 on 13 January, Ks-2,850,000 on 14 January, Ks-2,785,000 on 16 January and Ks-2,770,000 on 17 January.
Current market price stood below Ks-2,700,000 per tical but market gold traders manipulate the gold prices due to various rumors, Yangon Region Gold Entrepreneurs Association (YGEA) issued on 11 January.
After the announcement of YGEA, the market gold prices spiked continuously and only declined today. Today global spot gold price stood US$-1,913, an increase of US$-50 compared to US$-1,877 on 9 January.
