Gold Hallmarking: New gold transaction rules from today, know details

Gold Hallmarking:

From today there is going to be a big change in the rules of buying and selling gold in the country. From today the second phase of Gold Hallmarking New Rules is going to start. Gold hallmarking will be mandatory for booking gold jewelery from today.

The Bureau of Indian Standards (BIS) has said that 32 new districts will come under mandatory hallmarking in the second phase, where all jewelers will be allowed to sell only gold hallmarked jewelry. In this phase, jewelery of 24 carat gold will also now be subject to mandatory gold hallmarking.

Actually gold hallmarking is the proof of purity of gold. Earlier it was kept voluntary, but it has been made mandatory from June 2021 and is being implemented across the country in a phased manner. In the first phase, it was made mandatory in 256 districts of the country. Now in the second phase, 32 districts have been included in it. With this, hallmarking has been implemented in a total of 288 districts of the country from today.

Customers benefit the most

The most benefit of hallmarking is going to be to the customers. This will check jeweller’s fraud. Jewelers can no longer sell gold jewelery without hallmark to the customer, but the customer can still sell his old jewelery without hallmark to the jeweler in the same manner as it used to sell earlier. That is, he does not have to take the tension of getting his unmarked jewelery kept in the house hallmarked. Old gold jewelery is a kind of raw material for the jeweller. The customer cannot get himself hallmarked on his jewellery.

What is hallmark gold?

Hallmarking of gold ensures that the gold they are buying is of the exact same purity as stated in the hallmark. The Bureau of Indian Standards (BIS) stamps a certificate of purity and fineness of gold, which is called hallmarking. Hallmarking on gold shows that the gold used for making jewelery adheres to international standards of purity. The Bureau of Indian Standards (BIS) is the only agency recognized by the Government of India to conduct the certification scheme for hallmarking of gold jewellery. According to the Bureau of Indian Standards website, hallmarking of gold is allowed for 6 purity categories, which include 14 karat, 18 karat, 20 karat, 22 karat, 23 karat and 24 karat.

Hallmarking means guaranteeing the purity of gold

From today, jewelers will be able to sell only hallmarked gold jewellery, irrespective of their purity. That is, gold jewelery sold in the market from today will be considered completely safe on the purity front. This would mean that every item of gold jewellery, regardless of carat, must be hallmarked.


, International, ,

Post a Comment

Previous Post Next Post