Business

If the central bank approves the sale of paper gold,

British gold company will begin operations. Myo Myint, chairman of the Yangon Region Gold Entrepreneurs’ Association, told the Myanmar Platform that a permit to sell paper gold through banks was still being applied for.

The Skr application has not yet been denied. Still applying We deposit the gold we have in the bank when we receive that. To buy or sell, you do not need to carry any gold or silver. Gold is also sold by banks around the world. Gold can be deposited. Similar to the dollar, it refers to gold. One of the main ones is a British business with more and more gold on the UK market. Instead of transporting the gold there, the company will come here to refine it under its own brand and deposit it in the bank. The London Gold Market will be used to trade the bank’s SKR. Myo Myint stated, “From that point on, it was known as Paper Gold.”

Local banks are also interested in discussing gold paper, and there are currently some delays in applying for a permit with the central bank.

Now all we want to do is be. What the adults are thinking, I have no idea. All banks will comply if the permit is granted. The first person to visit us was Shwe Bank. The banks, on the other hand, showed up to talk. Myo Myint added, “About four or five private banks are coming.”

The gold market currently trades approximately 50 pounds of gold per day. Because the local gold price will fall after the global gold price falls, the price of one kyat of gold may remain high at approximately 1870,000 kyats.