Mandalay Region Gold Entrepreneurs Association (MGEA) announced that they will sell 7 visses of gold (10 ticals per person) at the office of MGEA located on 67th street between 40th x41st streets in Maha Aungmyay Township in Mandalay.
Except for the members of MGEA, everyone can buy gold freely but one must show their citizenship card, it said. Mandalay Region Gold Entrepreneurs Association doesn’t express which price they will sell the gold bars.
The Ministry of Natural Resources and Environmental Conservation is selling gold bars and coins in order to ease the gold price.
Six visses of gold have been sold in Yangon and Mandalay and the floor price of one tical of gold bar cost Ks.2.4 million.
On October 6, Yangon Region Gold Entrepreneurs Association set the gold price as Ks.2.01 million per tical but the prices at the gold shop cost Ks.2.67 million according to gold merchants.
Although directions have been given for buying and selling of gold depending on the foreign currency exchange rate, most of the gold shops sell with their set gold price.
