The Yangon Division Gold Entrepreneurs Association, the price of gold worldwide on February 2 was $1,797 per ounce, while the price of gold at the local academy was 188,000 kyats per kyat. On February 15 at 12:01 a.m., the price of local academy gold was 19,300,000 kyats per ounce, while the price of world gold was 1,878 US dollars per ounce. As a result, the local academy gold price only increased by 22,000 kyats per kyat while the global gold price increased to $ 81 per ounce in two weeks.
The local academy gold price was 18,895,000 kyats per kyat today, February 16, at 2:30 p.m., while the global gold price dropped to US$1,854 per ounce. As a result, within two weeks, the price of academy gold decreased to 13,500 kyats per kyat and the global price of gold decreased to US$24 per ounce.
A gold market expert responded to the question of whether the rapid rise or fall in global gold prices would affect domestic gold prices: The main issue is Russia and Ukraine. Because of contest, the costs of oil and gold all over the planet have gone up. As a result, the price of Myanmar gold will fluctuate in response to changes in global gold prices. However, the majority of people cannot afford one. Myanmar’s gold market has been following slowly. Between 187,000 and 80,000 and 19,800,000, the price of Burmese gold rose between 35,000 and 40,000 percent. The global gold price increased from less than $1,800 around 1880 to 1900. The result is a rapid rise in global gold prices. The cost of Myanmar gold has been steadily rising. He did not fall because of the restraint. It will slowly withdraw. Going up and down is challenging. “You will go down slowly if you go up and down slowly,” he said.
“When the price went up, the purchases were not as good as expected,” a gold trader said about the current trading situation on the market. The gold price steadily rose because it did not meet expectations. It goes up regardless of how much you need to buy or sell. Additionally, the domestic gold price fluctuates less than the global gold price. Because it does not decrease, it is dependent on demand. A well-balanced supply is indicated. Costs fall when costs fall. Now is the time to buy. The sales vary. It is balanced because it is balanced. The restriction has not resulted in an increase in prices.
