3 Gold Dealers In Myanmar Arrested For Violating Industry Rules

YANGON, Feb 6 (Bernama-Xinhua) -- Authorities in Myanmar have arrested three gold dealers for breaching industry regulations, Xinhua reported, citing the state-owned daily Myanma Alinn on Friday.

According to the newspaper, the arrested individuals are the chairman, vice-chairman, and secretary of the Yangon Region Precious Metal (Gold) Dealers Association.

The report stated that the dealers stored and purchased gold at prices above the daily reference prices set by the Mineral (Gold) Reference Price Determination Committee.

Their actions, allegedly intended to inflate gold prices and disrupt the market, violated industry regulations. Legal action will be taken against them in accordance with existing laws, the report added.

-- BERNAMA-XINHUA