Jakarta's gold traders face slow business<\/p>\n
JAKARTA (JP): With political and economic stability continuing
\nto plague the country, the gold business in the capital has
\nremained a sluggish one.<\/p>\n
The owners of several jewelry stores on Jl. Melawai in South
\nJakarta told The Jakarta Post on Tuesday and Wednesday people
\nwere hesitant to purchase or sell gold because of the political
\nand economic uncertainties.<\/p>\n
\"People currently are choosing not to buy or sell gold because
\non the following day the price might fall or jump significantly,\"
\nSyahrial, who owns Indonesia Jewelry, said on Wednesday, adding
\nthat business had been slow since the economic crisis first
\nstruck the country in 1997.<\/p>\n
Syahrial said that shortly after the onset of the crisis,
\nnumerous gold store owners in the capital sold their stock to
\nSingapore. \"Traders sold their gold to Singapore because they
\ndidn't want to keep their goods in storage for too long (while
\nwaiting for more stable gold prices).\"<\/p>\n
Burrahim, the owner of Rommy gold store, was of the same
\nopinion as Syahrial. \"I have three gold stores, including two in
\nMayestik (in South Jakarta). All three are experiencing slow
\nbusiness.\"<\/p>\n
This slowdown in business also is effecting the gold dealers
\nwho operate in front of Perum Pegadaian pawnshop on Jl. Senen
\nRaya in Central Jakarta.<\/p>\n
A 72-year-old gold trader stopped two people who were making
\ntheir way into the pawnshop on Tuesday, asking if they were
\nplanning to pawn gold. When they said no, she looked disappointed
\nand returned to her seat near the shop's entrance to continue her
\nwait for customers.<\/p>\n
\"I haven't had a deal for a week,\" the woman said. \"It's very
\nbusy here, but no one has come to my stand.\"<\/p>\n
She refused to give her name, saying she was afraid of
\nembarrassing her son-in-law because she worked as a street gold
\ndealer. \"He's a doktorandus (university graduate).\"<\/p>\n
Other gold traders working along the streets in the area also
\nsaid they were finding it difficult to locate business. \"Most
\npeople sold their gold when the (economic) crisis began, now they
\nhave nothing to sell,\" Alay, 34, who has been in the business for
\n10 years, said, adding that the gold business was now slower than
\nit was prior to 1997.<\/p>\n
A 61-year-old vendor said in the past many people purchased
\nand sold gold in the area. \"But now, as you can see, there are no
\ncustomers here,\" she said, adding that the street dealers only
\nearned Rp 3,000 (33 US cents) for each gram of gold they bought
\nor sold.<\/p>\n
There are, however, some gold stores which have avoided this
\ngeneral sluggishness. One of these is Senang Hati on Jl. Palmerah
\nin West Jakarta.<\/p>\n
Lusiana, the owner of the store, said she was benefiting from
\nthe start of the new school year. \"Many people from the middle
\nand lower-classes sell their gold to get cash for their
\nchildren's school fees and school supplies.\" (08)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/jakartas-gold-traders-face-slow-business-1447893297",
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