Gold prices fall in Myanmar

19 March 2020
Gold prices fall in Myanmar
Myanmar vendors arranging a display of gold jewellery at a jewellery shop at Chinatown in downtown Yangon. Photo: AFP

With the gold price sliding in the global market, the price of the yellow metal in the domestic market is dropping, state media reported.

Global gold price stood at $1,637 per ounce on 12 March while domestic gold prices crossed K1,210,000 per tical (0.578 ounces, or 0.016 kilograms). It fell to K1,168,000 per tical on 18 March when the price in the world market dipped to $1,513 per ounce, as per market data.

Within six days, the global gold price dropped by $124 and local gold price plunged by K40,000 per tical.