Jewellers, bullion dealers are set to get gold bars with 99.50% purity

The framework will also ensure responsible sourcing, assaying and certification for the jewellery value chain

Jewellers and bullion dealers are set to get gold bars with 99.50 per cent purity as “India good delivery standard” by March-end.

The stringent framework will also ensure responsible sourcing, assaying and certification for the jewellery value chain.

India’s annual gold imports are 750-850 tonnes. While most gold consignments are sourced from known refiners, some quantity of either dore, or refined gold, is allegedly imported from unknown sources, probably conflict zones. The delivery standard will make it easier for the authorities to track the value chain, from mines to market.

Gold with .995 purity is considered as 24 carat with a mere 0.5