Nader Behdarafshan, the head of the Tehran Gold and Jewelry Union, pointed out the consequences of the expansion of refined gold sales through online platforms over the past two years, announcing the approval of a law that could impact the future of this industry. According to him, the sale of refined gold in virtual platforms has significantly increased, and in this regard, warnings have been repeatedly issued about the repercussions of this trend.
Risks of Online Refined Gold Sales
Behdarafshan stated that this method of operation has disrupted the balance of the production and distribution cycle, causing multiple problems for the players in this sector. He added: "In the past two years, production in this sector has decreased by 35 to 55 percent, and many colleagues have also suffered heavy financial losses."
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He also referred to the efforts made to limit this trend, stating: "The follow-ups eventually led to the discussion of the activities of virtual businesses in the meeting of the High Supervisory Board of the Ministry of Industry, Mine and Trade on October 19, 2023." In this meeting, based on Resolution 138, it was decided that gold and jewelry sector players and other sectors operating in the virtual space must obtain their operating licenses from the relevant specialized union, not from the virtual business union.
Closer Monitoring of Online Platforms
Behdarafshan emphasized that this resolution has not yet been officially communicated, stating: "According to the decision made, the issuance of operating licenses for virtual gold platforms will be the responsibility of the specialized gold and jewelry union, which will implement stricter monitoring of these businesses' operations through the development of specific guidelines and regulations."
The head of the Tehran Gold and Jewelry Union also discussed the timing of the implementation of this resolution, saying: "It is expected that the mentioned resolution will be communicated within a maximum of one month, after which the process of issuing licenses and monitoring the activities of online platforms will be conducted according to the regulations set by the specialized union."
This action could serve as a hope for restoring balance in the gold and jewelry industry and relieve the existing concerns of players in this field. Given the decline in production and financial problems faced by colleagues, this resolution could be an effective step towards supporting producers and maintaining the quality and credibility of the gold industry.
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