Closed jewellery shops surprises all in Hyderabad

Hyderabad: City residents who rushed to purchase gold following rumours of a huge fall in prices were taken by surprise when they found jewellers stores closed. Padmaraonagar resident Keerthi Rao said, “News went around that the gold rate had dropped by Rs 1,000 and bullion traders had closed their stores for fear of losses.” In reality, the price of gold fell by about Rs 105 for 10 grams.

Jewellers had closed their shops on Wednesday to protest the Centre making it mandatory to record PAN details of customers who were making purchases worth more than Rs 2 lakh.

The bandh was called by the AIGJTF and Pot Market Jewellers Association.