It is expected that the Saraf community across the country will cooperate with us in this regard, Haji Haroon. Photo: File
Karachi: The local jewelery industry has announced its cooperation in documenting the business activities of bullion markets.
The head of the association, Haji Haroon Rashid Chand, has said that in the meeting with the relevant authorities, it was proposed to keep the local price of gold closed for three months, but after a three-day break, from Saturday (today). Formal gold trading and pricing on ready market basis will be initiated with consultations.
He said that the purpose of documenting the gold trade is to end the speculation in this sector, therefore, in the national interest, the gold will be determined on a daily basis keeping in mind the demand and supply formula in the market and the illegal trade will be ended. will be done
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Haji Haroon Rasheed Chand said that five jewelers allegedly involved in illegal activities were detained by the law enforcement agencies, who were later released after investigation.
He said that we have promised with the concerned institutions that there will be no illegal trade in the bullion and bullion markets, it is expected that the jewelers and goldsmiths community across the country will cooperate with us in this regard.
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