Bullion trade body enters into retailing

Will sell gold and silver coins and bars between one gram and 1,000 grams; to source metals from overseas and local suppliers

India Bullion and Jewellers Association (IBJA), a body of bullion traders, has stepped into retailing of gold and silver coins and bars — 1-1,000g. The association's gold coins and bars will have a hallmarking symbol of IBJA.

IBJA will source gold and silver from both foreign and local suppliers.

“With this, IBJA will generate revenue for the growth of the overall bullion industry in India,” Prithviraj Kothari, vice-president of IBJA and managing director of RiddiSiddhi Bullions, said on the sidelines of India International Bullion Summit, a two-day seminar, here on Saturday.

IBJA brand gold and silver will be available at par with other bullion dealers.