YANGON----The Commodity Supervisory Committee plans to take actions against surging prices of gold and dollars, says Myo Myint, Chairman of Yangon Region Gold Entrepreneurs Association (YGEA).

A meeting concerning jump in gold and dollars prices was held in last week.

The price of a U.S dollar is over Ks 2,500 in black market since the beginning of mid-July. So, some money changers temporarily suspended the dollars dealing.

The Central Bank fixed U.S one dollar equivalent to Ks 1850. But, the prices of dollars got higher at the black market after the CBM’s announcement.

The YGEA announced that one tical of gold price was Ks over 2 million on July 29th. But, it reached higher than Ks 2.2 million in black market.

“There is a lack of gold dealing. The gold shops and gold dealers didn’t sell. If dollar prices will rise, the gold price suddenly jumps. Actually, there is no gold buyer and seller,” said Myo Myint.