Effort for Public: 10 ticals of gold is sold to individual with fair price

The Mandalay Region Gold Entrepreneurs Association (MGEA) sold 7 visses of gold bullion and ingots in the afternoon on 7th October. 10 ticals of pure gold were sold each to individual between 2 pm to 4 pm. There were 40 gold buyers on that day. 

The aim of the sale is to reduce the soaring gold price in the country, said by the Chairman of MGEA. 

Chairman (MGEA), Win Sein said "Gold buyers mush bring NRC card and fill the personal information form. After that, we make direct sale between cash and gold.  While gold price is high, we follow the implementations aiming at reducing the gold price of the country. While opening price of one ticle of (Academy brand Gold) is at 2,590,000 kyats in Yangon, and midday price is at 2,570,000 kyats, we sell at a price of 2,540,000 kyats. "

Until finishing the target amount, the sale is planned to make continuously and anyone is available to purchase.

Gold Buyer, Thein Tun said "I came here as I feel that it is better to collect gold instead of holding cash. It is cheaper here as we can save around 30,000 kyats than the market price. The sale is only on cash payment. That’s goanna be great if the sale like this is going to be conducted frequently for the public and with much cheaper price if possible."

The sale of pure gold bullion and ingots at Mandalay Region Gold Entrepreneurs Association (MGEA) is being made with direct payment system between buyer and seller, it’s learnt.