5 June 2024
After YGEA increased the price of gold to more than 4800,000 kyats, gold shops will open daily for trading at the gold price set by them and will take effective action if they do not comply, announced today.
The Yangon Region Gold Entrepreneurs Association (YGEA) announces gold prices three times a day and the shops are notified to sell at these prescribed rates, YGEA said. In addition, gold shops will be required to open daily, according to the statement.
In the last week of May, the price of gold rose by more than 5800,000 and the price of the dollar rose by about 4,800 due to the fact that nscrupulous persons were driving up the price of gold and the dollar. However, after it was announced on June 2nd and 3rd that action had been taken against nscrupulous gold and dollar speculators, the price of gold in the country fell by more than 5200,000 and the price of the dollar fell back to around 4300 kyats.
