The military council has announced that gold coins will be sold to reduce the price of gold. In fact, it has already started selling in Naypyitaw today. However, they are not selling at the set price of 2100,000 kyat, they are selling at over 3000,000.
What do you see in the sale of 30,000,000 kyats of gold coins at the market price? The military group will no longer be able to control the collapsing gold price of the dollar. There is no ability to control. In addition, it was obvious that they had accepted that the price of gold could not fall any further. If only they believed in their abilities
Why don’t they sell according to the price of gold they set? This is the answer. There is no strategy except trying to control the dollar price and the gold price.
The provision of $200 million into the market will only make people believe it by word of mouth, and we don’t even know who will get it. Political instability, military intensity, instability in the country, and false statements have led to a decline in confidence in the Kyat.
Even civilians can easily see that gold prices have risen due to the rise in the dollar price. In order to be able to control the price of gold, selling gold coins at market prices is thought to cause the price of gold to fall.
At this time, I even saw that the gold price of the dollar, which had calmed down for a while, was taking another step back. He definitely went to Russia. The more trade in weapons, the higher the domestic demand for military dollars. They can’t protect themselves from rain with palm leaves. In the days of people who have no qualifications, anything will happen in this country. The fact that the military leaders themselves have accepted this situation can already be seen by looking at the price of one kyat of gold coins they sell.