In an effort to stabilize gold prices, the Yangon Region Gold Entrepreneurs Association (YGEA) has decreed that gold shops must operate every day, adhering to specified trading prices. Failure to comply during inspections will result in decisive action, warns YGEA.

YGEA announced that gold shops should be opened daily and traded every day, and in order to stabilize the price of gold, shops should be opened and sold at a set price.

YGEA, responsible for publishing gold prices thrice daily, is backed by the Gold and Currency Market Monitoring and Supervisory Committee and relevant authorities. On June 5, the set price for pure gold stood at 48,150,000 kyats, marking a notable decrease from the previous day's rate of 48,710,000 kyats.

Nonetheless, YGEA emphasizes that all gold shops and traders are obligated to conduct business in alignment with the designated prices, which are determined based on the online trading dollar exchange rate between AD licensed banks.

The association underscores that adherence to these regulations is imperative; with stringent measures awaiting those who fail to comply with the prescribed standards.