The Yangon Gold Entrepreneurs Association (YGEA) has reported that based on the calculation at the central bank's bidding price, the price of pure gold has been set more than 2.8 million kyats per tical (16.3g).

Beginning on October 7, the price of gold was changed to Ks2,866,300 per tical.

Such a change is based on the calculation at the central bank's bidding price, according to a statement released by YGEA.

On the afternoon of October 9, the gold price set by the association was Ks2,892,900 per tical. Therefore, the price of gold rose by over Ks26,000 when compared to the price set on October 7.

The gold price in the black market was over Ks3.4 million per tical on October 9.

Although the price of gold is instructed to trade at a fixed price based on foreign currency exchange rates, most gold shops are reportedly trading at black market prices.

Record prices of domestic gold have occurred several times from 2016 to 2021.  Those record prices were Ks903,500 on October 4, 2016, Ks957,800 on September 15, 2017, Ks1,047,700 on September 20, 2018, Ks1,088,500 on February 20, 2019, Ks1,143,500 on July 18, 2019, Ks1,237,000 on August 13, 2009, Ks1,315,000 on September 5, 2019, Ks1,335,500 on August 7, 2020, and Ks1,420,000 on February 6, 2021.