Local Gold Price Reaches Record High

​​ RANGOON — The price of gold in Burma skyrocketed to a record high of 902,500 kyats (US$656) per tical—a traditional Burmese measurement of weight equal to 16.33 grams (just over half an ounce)—on Monday, gold traders said. “It’s the highest price ever on the gold markets in Burma,” U Kyaw Win, owner of U […]

Industry lobbies for gold and diamond trade to be legalised

Industry bodies have asked the government to strike gold and diamonds from its list of restricted goods, saying it would boost government earnings and help to combat smuggling. The Myanmar Gold Entrepreneurs Association has filed a proposal with the Ministry of Commerce to lift restrictions. At present, gold and diamonds can only be traded overseas […]

Gold Demand ‘Remains High’

Purchasing gold has long been a way for Myanmar people to accrue secure savings, particularly in the absence of an efficient banking system. Today the gold market remains steady in a country with still-limited access to financial services. U Kyaw Win is the secretary of the Myanmar Gold Entrepreneurs Association, senior vice president of the […]