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A recent survey by CASE found 1/6 of the gold jewelery retailers not fulfilling the gold fineness standard and:
- Some retailers charge consumers for gold loss or manufacturing loss.
- Some retailers attribute extra charge for gold loss to manufacturing cost, passing it off as a legitimate cost.
- Most retailers display reluctance to give a breakdown of the total amount on the receipt. From our survey, a few retailers agreed to give a breakdown but scribbled it at the back of the receiptDaily gold prices were not standardised even though the gold articles were purchased on the same day. Labour cost, gold loss and gold price (per gram) varies from item to item.
- Most retailers did not weigh the gold articles unless requested to do so by our officers. Those retailers who weighed the gold articles included the tag to determine the weight.
- CASE found two shops with the SAO certification on the storefront selling pieces of jewellery that were not hallmarked.
- Consumers may be asked to pay an extra administrative fee if they choose an alternative payment mode by NETS or credit card instead of cash.
CASE also offered the following tips to consumers: [Read more…]