Dealers in gold predict an uptick in cash payments and underground gold trades.

Con artists would accompany them on their journey. A gold merchant described bullion gold as On September 14, an official from the Central Bank of the Military Council said that the Council would only permit gold and lead to be traded through banks. This decision was made after a meeting of the gold and currency market monitoring and maintenance committee. All transactions and payments were formerly conducted in cash only. To that end, we will be extremely strict about the requirement for and utilization of monetary bank transactions. If an arrest is made and measures are taken, the value of the transaction may decline. At this point, it’s probably safe to say that this is the final chapter.

Access to actual currency is more convenient than ever, but there are limits to how much you can take out at once. An unwavering gold bar in its entirety The local gold business has warned of potential difficulties in financial transactions if the military council attempts to restrict gold and lead sales to financial institutions.

In spite of this, productivity is low because the labor is so demanding. “The metal of the highest value is yellow. They have maintained for some time that all deals with a value greater than $200 million should go through the banking system. According to me, they have accomplished zero. This point must be reemphasized. ” proclamation made by the gold dealer. In response to a directive by the Sikkimese Bajo Bank, he made the difficult decision in November to sell his entire collection of over 200,000 objects (including the lion’s shell).

The current financial crisis has yet to stabilize, so gold bar transactions must now be conducted in cash.

The financial system failed as a direct result of the banking crisis. That’s the second time I’ve done it. Unlike before, I am uncertain of what is considered normal. In those days, there was no established hierarchy. There was a happy ending, but what should be done next? Something drew his attention, and he made a mental note. A jeweler would say, “It was a moment of immense success for the financial industry.” Avoid the bank like the plague if you need money. It’s nice to be able to relax in this area.

As individuals stopped putting their faith in financial institutions following the military takeover, they rushed to withdraw all of their money at once, leaving banks unable to meet demand.

The Yangon Gold Association’s proclaimed proposal to have gold housed in institutions and transacted using paper gold certificates was supposed to be implemented in October 2021; however, nothing has happened toward this goal as of yet.

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