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In attendance of the launch on 4 December were Trading Standards, the National Association of Goldsmiths (N.A.G.), the National Pawnbrokers Association (NPA) and the British Jewellers Association (BJA) as the scheme’s first London run was overseen at Minar Jewellers.
Retailers who have joined are part of Gold Standard will be asked to obtain a name and address from every customer, verify customers’ identity, only purchase from over 18s and capture transactions on CCTV and retain footage for 31 days.
The event, which signalled the beginnings of the Gold Standard’s presence in the capital, was attended by dignitaries from both Police and Trading Standards as well as local jeweller and N.A.G chairman Pravin Pattni.
Pravin Pattni, the owner of Minar Jewellers urged others to follow suit. “The price of gold has increased significantly in the last few years.
“Gold theft has also increased in this time so thieves need to dispose of the stolen gold somewhere. Hopefully this scheme will make it very difficult to pass stolen gold back into the system.
“If you sell or buy gold under the Gold Standard you will have to provide certain vital information so we know where it’s come from. We hope this will push criminals into a corner and benefit all retailers in the industry,” he concluded.
The news comes at an important time as Police forces working on the nationwide anti-metal theft scheme, Operation Symphony, have recently charged 20 people with alleged offenses related to the theft and purchase of scrap metals.
Arrests were made after similar stringent measures were introduced at scrap metal dealers up and down the country – and there are hopes the Gold Standard will have the same level of success in the jewellery industry.
Chief Superintendent David Chinchen, Wandsworth’s borough commander, said: “Those who choose to knowingly handle stolen property can expect a visit from police with a search warrant.”
“We have highlighted metal thieves who steal from gravestones, churches, underground cables and the rest. Although this is about precious metals the same heartache is felt by those who lose their most treasured family jewellery to thieves and those that profit from their criminal activities.”
