Page 5 - Gold Jewellery

Govt finalising jewellery hallmark rule; refineries to self-certify

The central government is finalising the rules on compulsory making hallmarking of jewellery. Hallmarking centres will be doing so for 14, 18 & 22-carat jewellery. For coins and bars, self-certification by refineries will be permitted. The industry has already started making noises on several proposals. India Bullion and Jewellers Association (Ibja) has said: "Self-certification of coins by refineries contravenes the basic purpose of a certifying agency. Self-certification without any third party intervention can be risky and refiners can misuse it." Surendra Mehta, national secretary, Ibja, said: "Coins from 0.1g to 100g must be hallmarked by approved centres." Sources say the government will allow refineries to self-certify hallmarking of coins because they will also have to take Bureau of Indian Standards registration and work is on to ensure they follow the global best practises about good delivery and so on. Rajesh Khosla, chairman emeritus of MMTC PAMP and president of the

GST not to affect gold jewellery market, demand to grow by 9% in FY17: Icra

Gold demand is expected to grow by 9% in values & 6% in volumes during FY17

Penchant for gold jewellery remains unfazed on Akshaya Tritiya

With changing times, people are shifting their focus towards diamond jewellery

Indian gold jewellery exports down 47% in Feb on lower offtake from Gulf

India is gradually losing its luster in terms of gold jewellery exports due to higher manufacturing cost arising out of 10 per cent import duty levied on gold. Over and above 5 per cent import duty levied by the government of the United States Emirates (UAE) effective January 1, has hampered India's gold jewellery exports routed through the Middle East.Consequently, after over 24 per cent decline in gold jewellery exports in January, India's shipment of the yellow metal ornaments plunged by a staggering 47.52 per cent in February. Experts believe that the UAE has witnessed a sharp increase in setting up of manufacturing units since January. These manufacturing bases are largely dominated by Indians who own similar units in India.Whatever the case might be, India has been losing jewellery exports business rapidly to its competing countries including China. Most importantly, India's skilled workforce is also migrated to the UAE resulting into a proportionate decline in job creation ...

Hallmarking restrictions push gold biz to informal sector

A BIS notification limits hallmarking of ornaments to three purities of gold

Jewellery chains in expansion drive

The industry expects demonetisation to drive jewellery demand towards the organised sector

How scrapping of old notes will boost demand for gold jewellery

The Modi government's decision to demonetise Rs 500 and Rs 1,000 banknotes is set to drive up interest in the bullion market

Hallmarking rule to cover 90% of gold jewellery

Guidelines for mandatory hallmarking of jewellery were approved by the government in 2000 but their implementation has been deferred

Govt promises helping hand to bullion industry

Govt proposes to develop gold mines, assures jewellery sector to address practical issues in bringing business above board

Jewellery sales to be tepid on Akshaya Tritiya

Price rise, dry weather and long gap of new wedding season are set to deter consumer