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No gold, silver purchases
HETAUDA, DEC 31 - Following the significant increase in number of ornament sellers, the local gold and silver dealers have decided to stop the purchase of ornaments for some time.
They have cited the lack of money as one of the prominent reasons behind this decision.
Since the gold price has recorded an all time high, the number of people willing to sell their gold ornaments has sharply increased in the district.
"Due to the lack of budget we are unable to address the customers’ demand who have been aspiring to sell their ornaments," said Pawan Shakya, a local gold and silver entrepreneur. He added that consumers are visiting the shops not to buy gold or gold ornaments, but to sell their ornaments."We were quite hopeful that we could sell a huge amount of ornaments during this season of matrimony; but our hopes have been shattered into pieces after the customers began thronging at our shops to sell their ornaments," he added. He also pointed out that now it is hard to sell even one onus of gold a day.
"The consumers are visiting the dealers to sell the ornaments that they had purchased earlier," said he. There are a total of 30 gold and silver dealers in Hetauda, which seem crowed by the consumers willing to sell their ornaments.
Gold and silver entrepreneurs attributed the high price of gold for the sudden increase in gold sellers. "We purchased ornaments from them according to our economic capacity," said the local entrepreneurs.
"As the locally based banks, including Nepal Bank Ltd. and Rastriya Banijya Bank decided not to issue gold as collateral, the flow of ornament sellers has largely increased, thereby creating problem for us," said Jyoti Ratna Bajracharya, President of Makawanpur Gold and Silver Dealers’ Association.Posted on: 2004-01-01 04:29
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