Gold trading volume data collected under guidance of steering committee

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Gold jewellery is seen at one of the gold outlets in Yangon.

Under the guidance of the Monitoring and Steering Committee on Gold and Currency Market, the gold trading volume data is being collected, said Chair U Myo Myint of the Yangon Region Gold Entrepreneurs Association (YGEA).
The data of the trading volume of the gold and jewellery shops in the Yangon Region and the association’s trading data have to be reported to the Yangon City Development Committee (YCDC).
“The committee held a meeting on 12 March and the deputy governor of the Central Bank of Myanmar directed us to collect the actual trading figure of the gold trading in the region, whether it is export to India or Thailand or anywhere else. If the trading data is compiled, the officials concerned will take necessary measures to enhance the gold market to meet the international standard,” U Myo Myint elaborated.
There is no accurate data on gold exports, he added.
The officials of the committee, subcommittee, Myanmar Gold Entrepreneurs Association and YGEA discussed matters regarding gold trading and export market data on 11 March 2022.
The meeting highlighted matters concerning the gold production condition, trading situations, export and domestic trading data, formation of separate teams to conduct the inspection tour to set the standards in line with the international criteria, determining the duties and responsibilities of the pricing, inspecting the trading situations of the importers and exporters along with the related financial institutions and other coordination matters in respect of the subcommittees. — NN/GNLM

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