Gold sales are misleading … and its price is global

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Oman – the constitution

The Syndicate of Goldsmiths and Jewelery Shops has renewed its warning to citizens not to be dragged into misleading advertisements talking about offers and discounts offered by goldsmiths and jewelers, because gold is a commodity whose prices are linked to the world.

The union said: There is a phenomenon that its circle has begun to expand through social networking sites and is practiced by some goldsmiths’ shops, related to offers and sales about gold jewelry to attract customers, indicating that it threatens the sector and its workers.

It called for the intervention of the concerned authorities and limiting the spread of offers for the yellow metal, especially in light of the current high prices, and because they are unreal and damage the reputation of the gold trade and industry in the Kingdom, which has a high reputation and great specifications.

She emphasized that she maintains hundreds of invoices that she has collected and deeply shows the truth of misinformation and manipulation that occurred on citizens, especially with regard to non-disclosure of the caliber of the purchased piece of gold, its weight, or the wages of workmanship, and sometimes exaggeration and not selling at the daily price specified in the daily bulletin it issues.

Last February, the Minister of Industry, Trade and Supply, Dr. Tariq Al-Hamouri, prohibited offers or sales for gold and diamonds under penalty of liability, based on the provisions of Articles 4 and 21 of the Industry and Trade Law No. 18 of 1998.

The union’s secretary, Rabhi Allan, asked not to trust any jewelry store that would advertise offers and discounts on jewelery and gold jewelery goods, especially the 21 carat, which is the most desirable when buying.

Allan ruled out in a press interview, today, Saturday, that any merchant in the goldsmiths’ markets throughout the Kingdom would offer offers and discounts. Because the prices of the precious metal are linked to the world price, and the wages for its manufacture do not represent a significant value when it is marketed or sold.

He pointed out that the wages of workmanship on gold jewelry at most jewelry dealers range from two and a half to five dinars, calling on citizens to buy from licensed stores. To avoid attempts of fraud, deception and manipulation of weights and bullets.

According to a member of the union’s board of directors and its representative for the city of Zarqa, Imad Esaifan, the deception is carried out by luring the customer and exploiting his lack of awareness of the buying and selling processes. The kit, its weight, and its workmanship. ”

He pointed out that the misleading operations practiced by some shops harm the reputation of the goldsmiths and jewelry sector, and expose injustice to citizens, not to mention harm the national economy, stressing that the union does not have any powers to pursue these, and there is no obligation to join it.

There are about 850 gold traders and goldsmiths throughout the Kingdom, with a pure Jordanian capital of more than 5 billion dinars, at a minimum. Petra







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