YANGON (Xinhua): Myanmar's domestic gold price has been surging to 2.01 million kyats (about US$1,133.8) per tical late Tuesday (March 8) due to rising global gold price and appreciating local dollar rate, Yangon Region Gold Entrepreneurs Association Chairman U Myo Myint told Xinhua.
"The gold price will drop back when the Central Bank of Myanmar sells dollars in the market. Today's rise is because of dollar rate appreciating against Myanmar kyats with 2,045 kyats per dollar in local market," he said.
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