‘Gold pounds are sold at exorbitant rates in Valley’


Srinagar, Feb 15: All Kashmir Gold Dealers and Workers’ Association today said some unscrupulous gold dealers in the Valley were selling the pounds (gold coins) at exorbitant rates.
 At a meeting here with its general secretary Bashir Ahmad Rather in chair, the association members said some dealers were selling the pounds at Rs 17800, “which is quite high when comparing to the retail gold rate.”
 “We have many a time advised such dealers against selling the pounds at exorbitant rates, yet they are not paying any heed,” the members said.
 The members said as per the current gold rate, a pound should not be sold above Rs 17000.
 The members resolved that the association shall release the rate of gold and pound from time to time through local newspapers for the convenience of the customers.
 They said the customers should check the hallmark of ‘Edward’ while purchasing the pound.
 The association said the customers should always purchase the gold as per the rate the association approves from time to time.
 The association also appealed the customers to inform the association in case they have any complaint.

Lastupdate on : Tue, 15 Feb 2011 21:30:00 Makkah time
Lastupdate on : Tue, 15 Feb 2011 18:30:00 GMT
Lastupdate on : Wed, 16 Feb 2011 00:00:00 IST

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