7 June 2024
After the Yangon Gold Industry Association (YGEA) announced that it would take action against gold shops that did not sell at a fixed gold price, the YGEA reduced the gold market today to 4,793,100 Kyats.
During the last week of May, more than 5,800,000 Kyats gold prices and dollars were pulled to about 4,800 Kyats by greedy people, YGEA set a price of around 3,999,000 Kyats per barrel of gold.
YGEA announced on June 5 that it would take effective action if they did not comply with the sale of gold shops at their specified price after the fixed gold price was redeemed to more than 4,800,000 Kyats.
Following such an announcement, the price of fixed gold was released three times a day, and the gold price released at 3:00 p.m. yesterday. Today, the gold price was slightly reduced from 4,810,900 Kyats to 4,793,100 Kyats.
