Buying or Selling Gold? You may require this from today

Source :Sify
Author :Finance Desk
Last Updated: Wed, Jun 16th, 2021, 05:53:10hrs
  • Facebook-icon
  • Twitter-icon
  • Whatsapp-icon
  • Linkedin-icon
gold-shop-1200-sifydotcom

Mumbai: Planning to buy or sell Gold? It is advised that you opt only for hallmarked Gold in your transaction.

The deadline for mandatory hallmarking of Gold jewelry commences from June 15.

The previous deadline to this rule was extended by a fortnight keeping in mind the Covid-19 related lockdowns across the country. The Indian government ruled to making hallmarking compulsory from January 1 2021 but extended it.

A hallmarking certificate, for those unaware, is a stamp of authority certifying purity. Usually, the certifying authority is a credible entity with a trust-worthy name in the industry. In India, the Bureau of Indian Standards is the regulatory body that ensures such verifications.

Gold either jewelry or coins and bars are hallmarked with important symbols denoting the purity, logo of the assayer or manufacturer and in many cases the year of assaying too.

For those keen on buying or selling un-hallmarked gold jewelry, the easiest way to do so is to inquire for a hallmarking from the nearest jeweler. You could

For buyers, the cost of hallmarking could start anywhere from Rs 35 to a few hundreds for a BIS certification. The easiest way to approach is to seek for the nearest assaying center from the website of the BIS.

You could also walk in to the nearest jeweler to know whether they are operating a BIS assaying service. In recent times, as many as 3.5 million jewelers have reportedly registered for a BIS certification and it is quite likely that you may get a BIS assaying done at your nearest jeweler.

  • Facebook-icon
  • Twitter-icon
  • Whatsapp-icon
  • Linkedin-icon