In Kandahar, gold trade halves as demand drops – Pajhwok Afghan News
KANDAHAR CITY (Pajhwok): Jewelers in southern Kandahar province say their business has recently fallen by 50% as demand for the precious metal has fallen due to rising poverty and unemployment.
They say that instead of buying gold, people have started selling their jewelry to meet other needs due to the hard economic times.
Jawad, a jeweler from Kandahar City, told Pajhwok Afghan News that in the past there were a lot of customers and they sold gold earrings, bracelets and other jewelry almost every day. days, but they didn’t sell anything in an entire week.
“Gold trading in Kandahar is down 50% from the past. People no longer buy jewelry but sell it because their economic situation has deteriorated and unemployment has increased.
He said the situation had worried them and hurt their businesses.
Mohammad Reza, another gold seller in the same market, said gold trading had halved and people were selling gold to them instead of buying it.
He added that every day more and more people were coming to the stores and selling their jewelry as unemployment had risen and people wanted to support themselves.
“In the past, after every Eid-ul-Fitr, there were more weddings and every family bought gold for their wives, but this year the situation has changed,” he said.
According to him, people no longer have the means to buy gold as they used to and think of meeting their other important needs.
But some goldsmiths say that although the gold trade has fallen, it is still profitable.
Ali Ahmad, another gold seller, told Pajhwok Afghan News: “Gold trading has gone down, but if we buy it or sell it, we make a profit. That is why there is no particular difference. ”
On the other hand, those who sell their family’s gold say that in the past, their life and job were good, but after the change of country, their livelihood was affected economically and they were forced to sell their family’s jewelry and meet their other basic needs. Needs.
Mohammad Anwar is one of the Kandahar city residents who came to the jewelry market to sell his house jewelry.
He told Pajhwok Afghan News that he wanted to sell two pairs of bracelets. “Before, I worked for a company, I had a good salary,” he added. But then it stopped. I was unemployed for a few months. I have no more money, so I sell the gold from my house and do business with it. ”
Officials from the Kandahar Jewelers Union say that despite the decline in the gold trade, the price has already risen.
Ahmad Shakib, deputy director of the Kandahar Jewelers Union, told Pajhwok Afghan News that recent political upheavals in Afghanistan have worsened the economic situation and affected the gold trade.
He added: “The economic situation has deteriorated and it has also affected gold trading, but the price of gold has increased over the past three years. In the past, the price of a gram of gold was 3500 or 4000 Afghanis but now it is 5500 or 6000 Afghanis”.