18.03.2024 – 22.03.2024 A Tate Papers

The Yangon Region Gold Industry Association issued a press release saying that gold should only be traded below the set price and if it cannot be done, stop trading.

On March 16, a meeting was held at the office of the Yangon Region Gold Industry Association and this decision was made.

In today’s gold market, all external gold buyers and sellers and gold shops are warned to trade below the YGEA set price, and if they can’t do so, to stop gold trading, the Yangon Region Gold Traders Association reported.

The statement of the Yangon Region Gold Industry Association continued that due to various misinformation, external gold market traders are dragging down the price of gold, and the relevant authorities will take action.

There are rumors that the price of gold is being pushed up and down by the buyers and sellers of the external market due to various misinformation. The Yangon Region Gold Industry Association announced that the department is investigating the news and will take action.

Because of this, the Yangon Gold Association has issued a special warning to people trading in the external gold market not to gamble based on rumours.

The reference price of the Yangon Region Gold Industry Association on the afternoon of March 16 is 37,945,000 kyats.

Gold and currency market monitoring in Nay Pyi Taw on March 6. maintain Vigilance Work Committee Chairman In a meeting with members of the second committee, the Chairman of the Central Bank of Myanmar said that in order to trade in the gold market in an orderly manner, Setting standards and price bases; We are working to develop a legal market.

gold price Those who gamble and make the price unstable will be supervised and punished according to the law. If it is considered as important goods and services, it is necessary to continue to implement the provisions of the law; current activities as members; They discussed the need to re-examine the supervisions and to go to systematic management.

After that, the Deputy Third Minister of the Ministry of the Interior issued an order in accordance with the existing laws in order to be able to define it as important goods and services in order to take supervision and action against fraud in the gold trade. To issue instructions and The Deputy Minister of the Ministry of Economy and Commerce has published the reference gold price through the relevant departments and the methods that can be taken against the sellers who exceed it. The ministry that will take the lead in issuing the necessary orders by those attending the meeting. Methods of continuing control and supervision They also discussed the conditions under which the processes must be established and carried out in a systematic manner.