03.02.2025 – 07.02.2025 (Weekly Presents)

The daily gold price is calculated at a profit of seven percent, said U Myo Myint, chairman of the Yangon Gold Entrepreneurs Association.

The chairman of the Yangon Gold Association made the remarks at the opening ceremony of the (free) training course No. (20) on combating money laundering and financing of terrorism on February 1.

“We open the daily market by adding seven percent profit,” said U Myo Myint, chairman of the Yangon Region Gold Entrepreneurs Association.

The daily gold price is calculated by multiplying one ounce of gold by the exchange rate published by the Central Bank of Myanmar and dividing it by 1.9047, U Myo Myint said.

If the gold price is sold above the reference price, the license may be closed and action may be taken later, said U Myo Myint, chairman of the Yangon Region Gold Entrepreneurs Association.

We should sell and buy at the reference price. If the selling price is higher than the reference price, the licenses will be revoked later, so we should sell at the reference price,” said U Myo Myint, chairman of the association.

The daily price of gold is published by the Mineral (Gold) Reference Price Determination Committee, and it is necessary to trade only at that price, and not at the prices displayed on social media, the chairman of the association said.