This week, as the world gold price edged up, the Yangon gold reference price hit 2.1 million kyat per tical.

The world gold price hit US$1,775 per ounce on 1 December, a record high since November last year.

Yangon Gold Entrepreneurs Association (YGEA) opened the market on 1 December morning at the price of 2,091,000 kyat per tical (approx. 16 gms), and closed at 2,670,000 kyat by the end of the day.

Gold merchants in the Yangon market said that the trading was sluggish in the market and there were only a few buyers.