March 26, 2017

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Local gold price declines on 24 March

The drop in global gold price has pushed drown domestic gold price in Myanmar on 24 March, according to local gold traders.
The price in global gold market was US$ 1,251 per ounce on 22 March, US$ 1,246 on 23 March and US$ 1,241 on 24 March rspectively. Although the global gold price declined slightly, it is still record high, compared with that of the last week. The local gold price which hit a record high of Ks 900,000 per tical at the end of February has decreased slightly to Ks 880,100 per tical on 10 March. However, the local gold price increased to Ks 894,000 on 17 March, Ks 895,700 on 18 March, Ks 896,000 on 19 March, Ks 898,100 on 20 March and Ks 896,800 on 21 March.
However, the local gold price was Ks 898,000 per tical in 24 March, down from Ks 900,300 in 23 March. The local gold price market hit a record high of Ks 903,500 per tical on 4 October, 2016. Till now, the all time lowest price is Ks 840,000 per tical according to local gold traders..—Min Min

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