(Staff article from The FRONTIER MYANMAR on 20 July 2022.)
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Captured gold bars at India-Burma border. |
Traders have deserted the market since mid-May due
to a series of arrests and other interventions by the military regime aimed at
controlling the trade and fighting rampant smuggling, speculation and hoarding.
In Myanmar, gold is a popular hedge against economic downturns. Sales have spiked since the February 2021 coup d’état, which sparked widespread resistance and crushed confidence in the economy.