Yangon gold market to reopen on 22 October 2020

21 October 2020
Yangon gold market to reopen on 22 October 2020
A display of gold jewellery at a jewellery shop in Yangon. Photo: Mizzima

Yangon gold market, which was suspended due to the COVID-19 resurgences, will be officially reopened on 22 October, said U Myo Myint, chair of Yangon Region Gold Entrepreneurs Association (YGEA), state media reported.

Yangon gold market was temporarily closed on 15 September amid the coronavirus crisis, and the price of yellow metal stood at over K1.3 million per tical (0.578 ounces, or 0.016 kilogrammes) then. Some shops were open at over K1.3 million on 12 October as well.

Pure gold fetched K1,313,500 per tical on 20 October, while global gold price stood at US$1,901 per ounce.