Skyrocketing gold prices compel jewelers to stop selling, buying coins

Srinagar: The Jewelers association from the commercial hub, Lal Chowk here on Wednesday decided to stop selling and buying gold coins in view of the rise in prices.

The association said that people have been facing tremendous hardships in Kashmir due to the rise in gold prices.

President of All Kashmir Gold Jewelers and Workers Association (AKGJ&WA), Bashir Ahmad told that a meeting was held today in Srinagar wherein the participants decided to stop selling and buying of the gold coins due to skyrocketing prices.

He said that though the gold is not the production of Kashmir, otherwise the rates would have been declined. He said that the people have been facing hardships and they (jewelers) don’t want their customers to suffer, thus simultaneously a favourable decision was taken.

“We want the government to introduce an alternative gold item of 24 carats, which would be useful for the people and they could heave a sigh of relief,” he said, adding that they will meet the administration in this regard shortly to come up with a solution ahead of the marriage season in Kashmir. (KNO)