25 March 2023
The local gold market is dull due to high prices, U Myo Myint, chairman of Yangon Region Gold Entrepreneurs Association, said.
“There is not much buying, the domestic gold market is dull due to high prices. Nobody can buy gold at this price. Although Thingyan festival season is coming, the gold market remains dull,” he said.
On 25 March, the global gold spot price stood at US$-1978 per ounce and the reference pure gold price set by YGEA is Ks-2,330,300 pertical.
Moreover, although CBM issued an announcement that action will be taken against gold market speculators and those spreading rumours online to destabilize gold prices, the spot gold price stayed elevated at over Ks-29 million in the domestic market.
