The price of 22-carat gold fell Rs 10, with the yellow metal selling at Rs 66,690
In Delhi, Bengaluru, and Chennai, the price of ten grams of 22-carat gold stood at Rs 63,490, Rs 63,340, and Rs 64,290, respectively
BIS encourages consumers to verify the authenticity and purity of the hallmarked gold jewellery items with HUID numbers
The price of the gold depends on the karat which is a measurement of the purity of a piece of gold
With the industry's formalisation and mandatory hallmarking by the Government, the company said that they are well-poised to capitalise on emerging opportunities and demands in the coming years.
There are two ways in which you can get your ornaments hallmarked in order to make them marketable
Get clarity on making charges for the piece, deduction if you sell it back, and eligibility for gold loan
Typically, July - September is a seasonally weak period for gold demand due to monsoons and inauspicious periods like Pitru-Paksha when buyers usually prefer to postpone gold purchases
Over 15,000 jewellers across Gujarat kept their businesses shut as they joined the nationwide strike against the implementation of Hallmarking Unique ID (HUID) system, industry stakeholders claimed
The Centre on Monday further extended the deadline for mandatory hallmarking of gold jewellery and artefacts by a fortnight till June 15 in view of the COVID-19 pandemic
Gold hallmarking is a purity certification of the precious metal and is voluntary in nature at present
With prices becoming prohibitive, buyers are now choosing dainty designs over dense, light jewellery over heavy sets, as gold retains its glitter in the run up to the wedding season
In view of the disruption in the wake of the Covid-19 crisis, they also urged the government to extend the next year's deadline for mandatory hallmarking.
Silver jewellery and articles have been kept out of mandatory hallmarking as of now
Business Standard brings you top events that are lined up for Wednesday
Estimates regarding the number of jewellers and ornaments being hallmarked at present are varied
Jewellers to be given a year's time to clear stocks that aren't hallmarked and get themselves registered
Gold is the third-most popular investment choice, with 46% of all global retail investors choosing gold products - next only to saving accounts (78%) and life insurance (54%)
Measure to be implemented in metros first, followed by state capitals, district HQs and rest of country