Hallmarking gold bullion likely to be mandatory from next year – Times of India

NEW DELHI: Beginning January next year, government will make hallmarking of all gold bullion mandatory. The new regulation will be applicable on all gold bullion, including imports, and will be rolled out in a phased manner.
“There is a consensus among all stakeholders and we are confident of making hallmarking mandatory for gold bullion next year. There is a unanimity that whatever is coming to the country should come under our mandatory standard norms.The sub-committee on this matter has submitted its report,” said Pramod Kumar Tiwari, director general of Bureau of Indian Standards (BIS), which implements the hallmarking regulation.
Hallmarked gold bullion, used for manufacturing jewellery, will ensure the desired purity of products. The purity mark is mandatory on all gold jewellery and artefacts sold in the market.
Sources said, gold bullion which jewellers will use for making jewellery and artefacts for themselves will be exempted from mandatory hallmarking. All the existing assaying and hallmarking centres will be considered for testing gold bullions, they added.