The Yangon Region Gold Entrepreneurs Association has raised concerns over the fluctuating gold prices caused by misinformation and baseless rumors.

External gold market traders have been implicated in driving these price swings. In response, the association is launching an investigation and vows to take appropriate action.

Gold speculators are urged to refrain from spreading rumors and engaging in speculative activities. The association emphasizes that transactions should adhere to the set price guidelines. As of March 12, the reference price set by the association stands at 3,796,600 kyats per tical (16.3 grams). However, the external market price has surged beyond 4 million kyats.

In a recent meeting of the Monitoring and Steering Committee on the Gold and Currency Market in Nay Pyi Taw on March 6, discussions centered around systematic gold trading, standardization, legal market development, and the identification and prosecution of unscrupulous speculators in accordance with the law.