Gold and What Mov...
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Gold and What Moves it.
Tracking all things that relate to and affect the price of gold.
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Burma's raw Gold returns in pure form from China

Raw gold from Burma continued to flow out to China only to reenter the country to cost more than global prices, according to Myanmar Gold Entrepreneurs Association.

 

YANGON(BullionStreet): Raw gold from Burma continued to flow out to China only to reenter the country to cost more than global prices, according to Myanmar Gold Entrepreneurs Association.

 

Association said global gold price fell by $30 last week but local prices didn't fall by 10,000 kyat but only by 5,000 kyat after the markets were flooded with Chinese gold. ...

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Marissa Roy's curator insight, December 11, 2013 8:26 AM

An influx of gold certainly affectst the economy. However, it Southeast Asia the prices have not fallen much, though legal purchases have been slow. On the other hand, the black market is selling lots of gold right now, and it will be interesting to see if this changes as prices become deflated.

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Burma Gold dealers start brisk selling as Kyat gains

An ounce of gold is priced at 1,425,646.96 kyat in early trade Wednesday while kyat exchange rate for the day is at 857 to the dollar, down from nearly 900 a couple of months ago.
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