BackMandatory hallmarking of gold jewellery: Govt extends deadline
Gold hallmarking is a purity certification of the precious metal and is voluntary in nature at present
PremiumIn view of the Covid-19 pandemic, the government has further extended the deadline for mandatory hallmarking of gold jewellery and artefacts by a fortnight till June 15. According to a report in news agency PTI, the decision in this regard was taken at a meeting chaired by Consumer Affairs Minister Piyush Goyal. From 15 June, jewellers will be allowed to sell only 14, 18 and 22 carats of gold jewellery.
What is gold hallmarking?
Gold hallmarking is a purity certification of the precious metal and is voluntary in nature at present. The hallmarking of jewellery/artefacts is required to enhance the credibility of gold jewellery and customer satisfaction through third party assurance for the marked purity/fineness of gold , consumer protection
According to BIS, the mandatory hallmarking will protect the public against lower caratage and ensure consumers do not get cheated while buying gold ornaments and get the purity as marked on the ornaments.
Meanwhile, a day after jumping to a nearly 4-month high, gold prices fall today. On MCX, gold futures were down 0.22% to ₹48,444 per 10 gram. In global markets, gold rates slipped today as improved risk appetite pushed global equity markets higher.
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