Jewellers and bullion traders in Lucknow observed a one-day symbolic shutdown on Monday to protest against Prime Minister Narendra Modi’s reported appeal urging citizens not to buy gold for a year.
The protest was organised under the banner of the Lucknow Mahanagar Sarrafa Association. Demonstrations were held at Anjali Palace near Power House Chauraha in the Ashiana area and Sector-H of LDA Colony.
Association president Manish Kumar Verma said traders were deeply hurt by the Prime Minister’s appeal, claiming that the jewellery business was already struggling due to economic slowdown and weak market demand.
He warned that discouraging gold purchases for a prolonged period could severely impact the livelihood of thousands of families dependent on the sarrafa trade, including small jewellers and artisans.
The symbolic bandh received support from several jewellery associations across the state capital. Traders in areas including Aliganj, Daliganj, Rajajipuram, Sarojininagar, Saadatganj and Trans-Gomti reportedly kept their establishments shut in solidarity.
The protest was also backed by the state unit of the All India Jewellers and Goldsmith Federation, which expressed concern over the possible economic impact on small businesses and workers associated with the gold trade.
