Gold Prices Rise, Riel Mixes After Khmer New Year

gold prices rise


Gold prices rise this week both international and local markets after Khmer new year, whereas the Khmer Riel are mixed with its counterparts.

The prices of gold are rising due to the price fluctuation in early this week if we compare to the last week movements base on the international market, the price of gold is $1,977.00 per ounce on April 19, 2022, at 8:45h AM (GMT+7) increase from $1,966, the clothed price of last week price on Aprile 12, 2022,.

For Cambodian Market the price of gold also increase in the an ounce of $30 per Tael at the price of $2,400.00 per Tael from $2,370.00 per Tael last week. Please check the below picture.

Reason of Gold Price Increases

Even though the price of U. S Index (DXY) is strong but the price of gold against USD is keeping the uptrend direction prolong with the DXY. The reason of gold still have more demand is investors are considering gold is the safe-haven assets protect their wealth during the uncertainty situation of the Russia and Ukraine crisis.

How about Khmer Riel after New Year

 

The Khmer Riel, after Khmer new year, the price of currencies are mixed comparing to other currencies such as:

  • United States Dollar (USD): The price Khmer Riel (KHR) are remaining the same with the United States Dollar with the asking price is 4,055.00 Riels per USD.
  • Euro (EUR): Comparing with the EUR, the price of KHR is 4,415 Riels per EUR whereas last week is 4,447.00. It means the price of KHR is stronger than last week.
  • Australia Dollar (AUD): For Australia’s currency, KHR is still stronger this week i.e. 3,019.00 of asking price, 22.00 Riel increase from last week at 3,041.00 Riels per AUD.
  • Reminbi or Chana Yuan (CNY): Current China Yuan is 641 KHR is keeping unchanged with the comparing period price.
  • Thailand Bath (THB): Cambodia current currency price is 121 Riels per THB this week is raising 1 Riels per Bath from last week is 122 Riels per THB, it indicated that the price of KHR is stronger.
  • Vietnam Dong (VND): If we compare to Vietnam Dong the price of KHR still strong i.e. 178 Riel this week and 179 Riels last week per 1,000 VND.
  • Singapore Dollar (SGD): Right now, 3,007 Riel and 2,996 Riels per SGD, it means that the price of KHR is stronger than last week i.e. 11 Riels per SGD.
  • Korea Won (KRW): Riel Keep unchanged with Korea Won is 332 Riels per won.

Cause of Mixing Price in Cambodia Currency

Cambodia currency price, KHR is movement against the counterparts by some currencies is unchanged such as the USD, CNY, and KRW, but stronger with the EUR, AUD, THB, VND, and SGD. It shows that the price of KHR is strong in this week because of Cambodia are celebrated the Khmer new year, the national holiday in 3 days. This event pushes the demand of KHR increasingly.

On the other hand, the international currency markets such as the European and Asia markets is dropping because the investors are watching the crisis of the Russia and Ukraine and they are worried about the World War 3 (WW3) prompted the international currencies are low demand.

Whereas the United State Dollar (USD) is still kept its stronger because USD was attracted the investors as the safe-haven currency in this period. The U. S index (DXY) is 100.79 today.

Review Prices of Gold and Currencies

Below is the prices of gold and currencies for this week in Cambodia. We are quoting the price from the National Banks of Cambodia (NBC) and The Price of Gold based on the local jewelry shop that release the price every day.

To compare the price of gold and currencies with the lase week prices, please click the link on Khmer Riel Price in up Trend we posted last week.

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2 thoughts on “Gold Prices Rise, Riel Mixes After Khmer New Year”

  1. For many years gold has been seen as a safe haven when stocks and shares might fall in value or there is a threat of uncertainty because of war. So with the Russian invasion of the Ukraine, it comes as no surprise that gold is strengthening as demand for the previous metal is rising. 

    Do you think the Khmer New Year might also have affected the price of gold, or is it more international events that would affect the price of gold?

    1. The Khmer new year does not give any impacts to the price of gold because this event is not push more demand of gold and the Cambodia population just 16 millions is not much enough to make gold price movement.

      The article is mainly stimulated that the impact the gold is uncertainty of the global geopolitics Russia invaded Ukraine. 

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