The Ministry of Commerce informed “Okaz” that the supervisory teams are carrying out inspection visits to gold sales outlets. To ensure their compliance with the system of precious metals and precious stones, as the oversight teams during the rounds verify the authenticity of the stamp, the absence of a shortage in caliber, control unlicensed or expired shops, verify that the invoice contains all the required data, check the degree of purity and gold caliber, and make sure of the integrity of the lobes.
The Ministry’s control teams take samples of precious metals and stones and examine them in the laboratories of the Saudi Standards, Metrology and Quality Organization. to verify compliance with specifications.
According to the Precious Metals and Gemstones Law, whoever violates the law shall be punished with imprisonment for a period not exceeding two years, or a fine not exceeding 400,000 riyals, or with both penalties.
According to Salah Al-Ammari, an investor in the gold sector, gold sales are witnessing a significant increase during the Hajj season. In view of the pilgrims’ interest in buying gold as personal use or as souvenirs when returning to their countries, indicating that (21 karat) gold is popular among pilgrims, as they tend to buy chains, rings and bracelets.
Al-Ammari expected that gold sales from pilgrims in Makkah Al-Mukarramah, Al-Madinah Al-Munawwarah, and Jeddah would reach between 500,000 and 800,000, and these sales are expected during the Hajj season due to the precision and professionalism of gold craftsmanship and designs that suit all purchasing tastes.
