Myanmar** market news, although the international gold price has declined, but the domestic gold price is still at a high level, as high as more than 3.8 million kyats.
Recently, the domestic Kyat currency has continued to depreciate, and the US dollar exchange rate**, 1 US dollar is exchanged for more than 3,500 kyats. As a result, the domestic gold price is also slowing**.
On January 1, the international gold price was $2,062 per ounce, and on January 31, it was $2,030 per ounce, a decline of $32 in a month. In terms of domestic gold prices, on January 1, in the Yangon market, gold shops traded at 3.71 million kyats, and at noon on January 31, the price of 3.89 million kyats. Within a month, the first class of the first class of more than 100,000 kyats.
The domestic gold price in Myanmar rose and fell based on the international gold price and the US dollar exchange rate. At the end of August 2023, in the market, 1 US dollar was exchanged for 4,500 kyats, a record high. At that time, the first class ** rose to nearly $4 million, which also set a new record.
In recent years, the Central Bank of Myanmar has repeatedly appealed to domestic businessmen to consciously abide by laws and regulations to prevent the rise in the price of basic foodstuffs, disrupting the market, and running out of stock. For the inflating and speculation of the **market**, the ** Merchants Association of Yangon Province has issued a number of statements one after another, and the behavior of spreading rumors and maliciously speculating on the market will be held accountable in accordance with the law.
Whenever the situation is unstable and many economic industries are suspended, most businessmen choose to hoard **. Reminder, in the case of not understanding **, do not rashly follow others to buy hoarding, so as not to bring losses to your own economic property.