A gold laboratory will be opened at the Yangon Region Gold Entrepreneurs Association Office to ensure Myanmar gold meets standards for international markets including the United States, England and Japan.
The Gold and Currency Market Monitoring Steering Committee has issued guidelines for establishing a standard laboratory, and the necessary steps are being taken to establish it.
As the gold quality sold internationally is 9999 gold, measures will be taken to ensure Myanmar gold will meet the said standard, U Myo Myint, chairman of the Yangon Region Gold Entrepreneurs Association said. The gold laboratory is being established to obtain an internationally recognized ISO certificate, and the gold quality will be tested by a US-based quality assessment body to ensure that the Myanmar gold quality meets international market standards.
Previously, the standard weight of one gold bar was 16.606 grams, but currently, the Minerals (Gold) Pricing Committee has changed the weight of 1 tical to 16.3293 grams. Due to this change in gram weight, the gold market is re-working on the weight changes in gold weighing machines in the market. The gold reference price announced by the Minerals (Gold) Pricing Committee on January 14 is 5.38 million kyats per tical.
