By Ra Wai / MPA
It is reported that the gold price soared more than 65 lakhs in record within a day after Min Aung Hlaing said that there were positive signs of trade for three months.
In a SAC meeting held on 29 July, Min Aung Hlaing said that there were positive signs of trade based on the statistical data when the domestic and international trades were dealt via the sea route and border areas in April, May and June.
“Yesterday, the price of pure gold was more than 63 lakhs. Today (30 July), it has become more than 65 lakhs. Since SAC is provoking its real market price, the price doesn’t have an ideal. Some are around 66 lakhs. Some are over 65 lakhs. It is like a kind of black market. There is almost no business in the shops. If I have to say the current market price of today in one word, it is over 65 lakhs,” a gold broker in Yangon told MPA.
It is said that the gold market in Yangon is in terror in this time of over 65 lakhs because 21 gold businessmen and brokers were arrested and another 10 were issued the warrant with the accusation against playing the market in the late of May when the price of pure gold got close to 60 lakhs.
“We have to be afraid of them with a thought that we don’t know when they will come to arrest us, even though we are just living our own lives honestly,” he continued.
SAC-controlled Yangon Region Gold Entrepreneurs Association (YGEA)’s closed price of pure gold was 4,643,464 MMK this evening and nobody is not dealing with that price.
It is said that the current exchange rate of the US dollar was between over 5,300 – 5,500 MMK today and the dealers are dealing with various prices satisfied by both sides.
