C’garh Sarafa Association to meet CM Vishnu Deo Sai today over soaring bullion prices and online dominance
⚱️📏 Kamal Soni calls CM and BIS meet a “golden opportunity” for jewellers
⚱️📏 Gold crosses Rs 12.75 lakh per 10g, silver nears Rs 1.6 lakh/kg
⚱️📏 Traditional traders seek policy protection and zero-interest loans
By : Akshay Lahre
Raipur : A sharp rally in gold and silver has gripped Chhattisgarh’s bullion markets with mixed sentiment – enthusiasm among investors and anxiety among small jewellers. The Chhattisgarh Sarafa Association, led by President Kamal Soni, will meet Chief Minister Vishnu Deo Sai on Tuesday to discuss traders’ growing concerns over volatile prices, unfair online competition, and the threat to traditional bullion businesses. The meeting coincides with World Standards Day, where the Bureau of Indian Standards (BIS) and the State Government will jointly address the sector.
“This is a golden opportunity for us to present the issues of our trade directly before the Chief Minister and BIS,” said Kamal Soni, adding that the Association expects the State to introduce safeguards that ensure fair competition and stability for local jewellers.
Global factors continue to push bullion prices upward. Economic uncertainty, geopolitical tension between the US and China, and speculation over a potential Federal Reserve rate cut have strengthened investor interest in gold as a safe-haven asset. In the Raipur spot market, gold surged beyond Rs 12.75 lakh per 10 grams, while silver hovered close to Rs 1.6 lakh per kilogram. Analysts suggest the current support zone for gold lies between Rs 12 lakh and Rs 11.5 lakh, with resistance near Rs 13.15 lakh – a range that could invite profit booking in the days ahead.
Despite festive demand supporting retail activity, small and family-run jewellers report growing strain. “Large corporate houses and digital platforms are flooding the market with unrealistic offers and misleading schemes that distort fair trade practices,” said Soni. “Generational traders who have built this industry through integrity and skill are now facing an existential challenge.”
The Association’s delegation will urge the Chief Minister to extend policy protection to traditional jewellers. The memorandum includes key demands such as inclusion of the jewellery trade in the state’s protection framework, creation of a state-specific gold and silver trading policy, curbs on online price manipulation, and interest-free loan facilities for small traders.
Kamal Soni further said, “This trade is not just commerce-it is part of Chhattisgarh’s cultural and economic identity. Without timely government support, many small jewellers who preserve this legacy could vanish in the shadow of large corporate players.”
Soni concluded, “The outcome of today’s meeting will shape the future of Chhattisgarh’s bullion community—it will decide whether the glittering rise in gold brings long-term growth or deepens the struggle for those trying to sustain their traditional livelihoods.”
