Although the world gold price fell for the second week, Myanmar’s gold price did not fall and remained high
The president of the US central bank said that there is a possibility of raising interest rates in the international market
The dollar rose and global gold prices are headed for a second consecutive week of declines.
Today, the global gold price was around $1,954 an ounce, the lowest since October 18 during trading. The US gold spot price is $1959 per ounce, down 0.5%.
Global gold prices fell nearly 2% this week, the biggest weekly drop in more than a month. Although the world gold price is currently falling, as long as it remains above the $1,900 level, it is estimated that the gold price may rise again by the end of the year.
It is said that the price of gold in Myanmar has not yet fallen in line with the current decline in the global gold price, and the rising dollar price these days and the fighting in the northern Shan region are the reasons why the gold price is still strong.
Today, the local gold market is around 3500,000 kyats per 16 kyat of 16-carat academy light gold, while the price of 15-carat gold is around 3300 kyats. Ref: Investing Author: Silver Star
