Fresh gold price highs and lows failed to hamper trade in Rangoon on both sides of the transaction table, merchants said yesterday.

Although the gold price on the Burmese market rose to a record high of 672,000 kyat (about US$672) per tical (about 16 grammes) yesterday, the market was still strong, according to traders in Rangoon.

“Despite the fluctuations, the market is still active,” a gold shop owner in Kamayut Township in Rangoon told Mizzima.

But, the price softened later in the day to 663,500 kyat per tical. “Although the gold price has changed continuously in the past few days, both buyers and sellers have still wanted to make transactions. The market is not booming, but it is still lively,” a gold merchant from 29th Street, a precious-metals trading area in Pabedan Township, said.

The current gold price in the global market normally set trends on the local market. In the past few days on the global market, the price had risen from US$1,348 to US$1,380 per ounce. At 11:30 p.m. Rangoon time yesterday, the price given by the London Gold Exchange had weakened to US$1,371.

In the mid-August, the price on the Burmese market reached a record high of 667,000 kyat, and on September 9, dropped to 626,000 kyat.

If the gold price in global market was stable, the gold price in local market would decrease because of the increase in volume of production after the monsoon, according to gold merchants.

On global markets, gold fell nearly one per cent yesterday, weighed down by a rebound in the US dollar after the strongest signal yet that the US Federal Reserve was considering a much-anticipated easing move. The dollar rose about half a per cent against a range of currencies yesterday, Reuters reported.

Gold in India fell nearly one per cent on Monday over weak overseas markets, triggering physical buying from traders ahead of the key upcoming festivals, dealers said, Reuters India reported last night.

Karenni sources reported that to contest the Burma government’s general elections on the Nov.7, the members of USDP are mainly recruited of school teachers from Education Department and government staffs.

Teacher staffs those who entirely joined for participating with the USDP are also mainly based in town sites. Meanwhile, the government school teacher staffs who still working in remote areas and far ways from towns have applied to take place instead of teachers to teach in town.

A resident who close connecting with the local Education Department said that many teachers who's responsibility working in villages have been applying forms to work in towns.

Teacher staffs have to pay at least 100,000 Kyat to state educational coordinator to join the USDP.

According to the local sources pressure is being put on the teachers to help the region electorates as initiate involving in Nov. 7.

A resident from Loikaw said, “The local authorities ordered the teacher staffs to help the Burmese government backed-party to win the general elections when it will be held on No. 7. I heard these from my friend who working as a teacher.”

Meanwhile the local educational institutions in Rangoon have also come under USDP pressure, sources said.

The deans of the Yezin Agricultural University, the University of Forestry and the University of Veterinary Science located around Naypyidaw were reportedly instructed to tell teachers to vote for USDP candidates and to advise their students to support the government-backed party.