Limerick TD welcomes cash-for-gold report

DEPUTY Kieran O’Donnell has welcomed the publication of a report on the cash- for -gold trade, and is asking Limerick people to submit their views on the report’s recommendations.

DEPUTY Kieran O’Donnell has welcomed the publication of a report on the cash- for -gold trade, and is asking Limerick people to submit their views on the report’s recommendations.

The report, which was published by the Minister for Justice, Alan Shatter, found there is no “major crime” involvement in the sector.

However, it said there are grounds for considering the introduction of some controls on the purchase of jewellery at cash-for-gold outlets.

It is currently the responsibility of shop owners to ensure they are not buying stolen goods.

The department’s move comes following an increase in burglaries across the country over the past two years.

There have also been a number of prosecutions in Limerick where people were caught with stolen jewellery at cash-for-gold” outlets in Limerick. The report found that cheaper commercial rents and the huge increase in the price of gold on international markets has contributed to the spread of such shops.

Gardaí have called to every store that offers cash for gold to inform the operators of their obligations and responsibilities when purchasing gold and jewellery.

“The cash-for-gold trade has mushroomed in recent years. People have become concerned by burglaries of gold and a possible link with the emergence of the cash- for-gold trade,” said Deputy O’Donnell.

“The government commissioned this report on foot of these concerns. One of the key recommendations of the report is that Cash for Gold be subject to the kind of regulations that the pawnbroking trade is subject to,” added.

Deputy O’Donnell is urging anyone in Limerick who has views on the report to submit to submit them to the Oireachtas Committee on Justice, Equality and Defence.

To keep up-to-date, follow the Limerick Leader on Twitter