Country News

Damascus Markets Without Silver

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The once vibrant streets of Hamidiyah, adorned with silver shops showcasing the latest collections of chains, rings, and bracelets, are now devoid of these features that have long distinguished Damascus markets.

While tourists used to stop in admiration in front of the facades of these shops to look at the latest silver collections, today these shops are almost non-existent after the price of silver rose by 50% over the past year, reaching 18,000 Syrian pounds per gram. Demand has significantly declined, leading many silver shop owners to permanently close their doors.

Owners of silver shops in Damascus markets can no longer bear consecutive losses. What was once a thriving and profitable silver trade has now become a losing proposition for buying from customers and reselling. Faced with the imperative of survival, many have completely abandoned their inherited craft and turned to other professions. Even more distressing is that one of the major silver merchants had to leave his trade and transition to selling shoes. The soaring prices acted like a bullet that killed this venerable profession, leaving behind economic and psychological devastation for the owners of these shops.

It's worth noting that the gemstone market in Syria in general, and Damascus in particular, experienced a downturn during the war but has recently regained activity despite variations among customers between those seeking genuine stones and those satisfied with fake or imitation stones.

This is a true tragedy reflecting the extent of the deterioration in economic conditions and its destructive impact on many professions and crafts, leaving long-term negative effects. Will we ever see the return of silver shops to Damascus markets? Will these traders be able to regain their professions and livelihoods? Questions that remain unanswered, contingent upon an improvement in economic conditions, if it ever happens!"

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