The Yangon Gold Entrepreneurs Association (YGEA) has announced that the news about the chairman and the secretary being detained is false.

The YGEA has denied claims circulating on some social media pages that U Myo Myint, the chairman, and U Win Myint, the secretary, were detained by the Bureau of Special Investigation.

Currently, only gold shop owners and gold traders who are accused of gold price manipulation are being arrested.

The association has continued to announce daily gold prices and has kindly requested gold shop owners and gold business operators to sell at those prices.