(Eqtsad)- Om Mohamed, 50-year-old woman lives in the besieged Eastern Ghouta suburbs near the capital, did not realize that she will be forced one day to sell the gold which she saved during 25 years from the income of her martyred husband as he used to work in selling electric devices.
Om Mahmoud says the past 5 years were the hardest financially for her family. After her husband was killed by a shell dropped where he was present, she did not find an alternative for selling the gold she had gradually. She had to sell it to secure food, clothes and heating for her family.
This is the situation of population of Eastern Ghouta following the harsh blockade stretched for four years. If we are to research the income of households, we would find they all sold their gold to provide their needs. Eastern Ghouta lost all economic power since the gold exited to outside.
We met Abu Hasan, deputy head of Goldsmiths in Eastern Ghouta, he confirmed that the main reason why gold exited the area is that because most goldsmiths are from Christian sect which forced them to evacuate gold and transfer their shops away from the area to preserve their trade. There are reasons related to selling gold by besieged households to secure living expenses. This made us as goldsmiths work to retain balance to gold market and jewelry which is considered an economic power for Eastern Ghouta suburbs.
This is why the idea to form the Goldsmiths Association was necessary to put in place basics of work in this profession and prevent manipulation of prices by some gold traders and to avoid any fraud cases.
In the framework of improving performance of stakeholders and economic facilities, the idea of the Goldsmiths Association was received much interest and perhaps the main issue facing this association nowadays is to adjust prices and buying.
Concerning gold pricing, Abu Hasan confirmed that the association is not concerned with the prices issued by the Goldsmiths Association of the Syrian regime. He said, “we do the gold pricing according to the international bulletin of world gold and dollar. Gold is opposite of dollar. When ounce increases, dollar decreases.”
Abu Hasan added that the economic collapse made people sell property and gold to freeze capital and this thing happened on a major scale in Eastern Ghouta recently. The best saving in these days is gold and not property which might be bombed. In contrast to currency which also might get ruined because it is paper. In general, gold is the best budget for any entity.
In regard to presence of special workshops to manufacture gold inside Ghouta, Abu Hasan revealed that there are experts in this profession inside Ghouta. But there is a fear of mixing between he gold manufactured inside Ghouta with the one in the capital. This made us stop working because manufacturing any gold piece needs a special signature on the piece. When buying any Ghouta signed gold piece, the regime might tighten noose on this material and make a big deal out of it to affect the gold market inside Ghouta.
Due to the critical situation of the economy in Eastern Ghouta, we can hardly find anyone buying gold according to Abu Ratib, a gold shop owner in Douma. He confirmed that buying and selling is very weak except for engagement and marriage rings or small gold pieces.
He added that some people sell cars or property and exchange the money with gold fearing decrease value of currency in these unstable times in currency markets.
He concluded that gold and jewelry market is witnessing a relative stability amid slim swings every other day.
Om Mahmoud says the past 5 years were the hardest financially for her family. After her husband was killed by a shell dropped where he was present, she did not find an alternative for selling the gold she had gradually. She had to sell it to secure food, clothes and heating for her family.
This is the situation of population of Eastern Ghouta following the harsh blockade stretched for four years. If we are to research the income of households, we would find they all sold their gold to provide their needs. Eastern Ghouta lost all economic power since the gold exited to outside.
We met Abu Hasan, deputy head of Goldsmiths in Eastern Ghouta, he confirmed that the main reason why gold exited the area is that because most goldsmiths are from Christian sect which forced them to evacuate gold and transfer their shops away from the area to preserve their trade. There are reasons related to selling gold by besieged households to secure living expenses. This made us as goldsmiths work to retain balance to gold market and jewelry which is considered an economic power for Eastern Ghouta suburbs.
This is why the idea to form the Goldsmiths Association was necessary to put in place basics of work in this profession and prevent manipulation of prices by some gold traders and to avoid any fraud cases.
In the framework of improving performance of stakeholders and economic facilities, the idea of the Goldsmiths Association was received much interest and perhaps the main issue facing this association nowadays is to adjust prices and buying.
Concerning gold pricing, Abu Hasan confirmed that the association is not concerned with the prices issued by the Goldsmiths Association of the Syrian regime. He said, “we do the gold pricing according to the international bulletin of world gold and dollar. Gold is opposite of dollar. When ounce increases, dollar decreases.”
Abu Hasan added that the economic collapse made people sell property and gold to freeze capital and this thing happened on a major scale in Eastern Ghouta recently. The best saving in these days is gold and not property which might be bombed. In contrast to currency which also might get ruined because it is paper. In general, gold is the best budget for any entity.
In regard to presence of special workshops to manufacture gold inside Ghouta, Abu Hasan revealed that there are experts in this profession inside Ghouta. But there is a fear of mixing between he gold manufactured inside Ghouta with the one in the capital. This made us stop working because manufacturing any gold piece needs a special signature on the piece. When buying any Ghouta signed gold piece, the regime might tighten noose on this material and make a big deal out of it to affect the gold market inside Ghouta.
Due to the critical situation of the economy in Eastern Ghouta, we can hardly find anyone buying gold according to Abu Ratib, a gold shop owner in Douma. He confirmed that buying and selling is very weak except for engagement and marriage rings or small gold pieces.
He added that some people sell cars or property and exchange the money with gold fearing decrease value of currency in these unstable times in currency markets.
He concluded that gold and jewelry market is witnessing a relative stability amid slim swings every other day.
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