State Administration Council (SAC) announces through State owned media that Ministry of Natural Resources and Environmental Conservation is to sell gold coins beginning from September 2.

It said that Ministry of Natural Resources and Environmental Conservation is planning to sell gold coins weighing quality tical, half-tical and quarter-tickle freely.

But, it doesn’t mention the price of gold coins and how many quantities of gold coins will be sold.

Due to that announcement, some think that gold prices may decline and on September 1, gold prices were declined.

The local gold market said that the reason for declining gold prices on September 1 was due to declining in dollar prices.