New Delhi5 minutes ago
- Copy link
The Bureau of Indian Standards (BIS) has made hallmark mandatory on jewelery made of 9 carat gold since Friday (July 18). So far, hallmark was necessary on jewelery made of gold up to 24k, 23k, 22k, 20k, 18k and 14K. Hallmark confirms the purity of gold. At the same time, hallmark is no longer necessary on gold watches and pens made of gold.
All India Gem and Jewelery Domestic Council said that now all jewelers and hallmarking centers will have to follow the new rules of BIS. According to the new rule, 9 carat gold (375 PPT) has also come under compulsory hallmarking. Earlier it was not necessary for 9 carat gold, but now it would also be necessary to hallmark it to customers to give correct information about the purity of gold.
9 Carat Gold Hallmark Rules will have 5 benefits
- Middle class benefits: Its price will be low, people will get cheaper options.
- Ceetry guarantee: The 37.5% purity of 9 carat gold from the hallmark will be confirmed.
- Customers trust: Hallmark will prevent cheating and increase confidence.
- Quality Control: Jewelers have to follow BIS rules.
- Export will increase: Sales from Hallmark to UK, Europe will be easier.
Hallmarking is legal
Hallmarking is done under the BIS Act, 2016. It proves the amount of precious metal in jewelry and artifacts. This shows customers how pure gold is in their jewels. Hallmarking can protect customers from cheating. Hallmarking has 8 grades. Every grade reflects the purity of gold. Now 9k gold has also joined this list. This will give customers more options.
Hallmarking grade on gold jewelery
| Grad | Minimum purity in PPT | Carat purity |
|
24 kf |
999 | , |
|
24 ks |
995 | , |
| 23K | 958 | 23 |
| 22k | 916 | 22 |
| 20k | 833 | 20 |
| 18k | 750 | 18 |
| 14K | 585 | 14 |
| 9k | 375 | 9 |
Hallmarking on watches and pens is no longer necessary BIS has also made some changes in its rules. Now gold watches and pens have been excluded from the definition of artfacts. This means that now hallmarking on them is not mandatory. A new rule has also been made about gold coins. Now only 24kf or 24ks coins made of thin sheet of gold will be considered 100% pure. This coin should only be made by mint or refinery and should not have any legal currency value.
Gold became 790 expensive, ₹ 98,243 per 10 grams
The price of gold and silver was seen on Friday (July 18). According to the India Bullion and Jewelers Association (IBJA), the price of 24 carat gold has increased by ₹ 790 to ₹ 98,243 per 10 grams. Earlier, its price was at ₹ 97,453.
The price of silver has increased by ₹ 1,700 to ₹ 1,12,700 per kg. Earlier, silver was at ₹ 1,11,000. On July 14, silver made an all -time high of ₹ 1,13,867. Earlier, gold made an all -time high of ₹ 99,454 on 8 June.
Price of 10 grams of gold in 4 metros including Bhopal
- Delhi: 24 carat gold price ₹ 99,520 and 22 carat gold price ₹ 91,250
- Mumbai: Price of 24 carat gold ₹ 99,380 and 22 carat gold price ₹ 91,100
- Kolkata: Price of 24 carat gold ₹ 99,380 and 22 carat gold price ₹ 91,100
- Chennai: Price of 24 carat gold ₹ 99,380 and 22 carat gold price ₹ 91,100
- Bhopal: Price of 24 carat gold ₹ 99,420 and 22 carat gold price ₹ 91,150
Gold became expensive ₹ 22,000 so far this year
This year i.e. since January 1, the price of 10 grams 24 carat gold has increased from Rs 76,162 to Rs 22081 to Rs 98,243. At the same time, silver price has also increased from Rs 86,017 per kg to Rs 26,683 to Rs 1,12,700. At the same time, gold became expensive by Rs 12,810 in 2024 last year.
Gold can be Rs 1.68 lakh per 10 grams by 2030
According to Mahendra Lunia, chairman of Vighnaharta Gold, by 2030, the price of gold can reach Rs 1.68 lakh per 10 grams. The reasons for the rise in gold prices are factors ranging from geopolitical stress to global economic recession.
Keep these 2 things in mind while buying gold
1. Buy certified gold Always buy a certified gold of the Bureau of Indian Standard (BIS) hallmark. Under the new rule, gold will not be sold from April 1 without six digit alphanumeric hallmarking. Just as there is a 12 -digit code on the Aadhaar card, in the same way there will be a 6 -digit hallmark code on gold. It is called Hallmark Unique Identification Number ie Huid.
This number can be alphanumeric means something like this- AZ4524. It has become possible to find out through hallmarking how many carats a gold is.
2. Cross check the price Cross the right weight of gold and the day of purchasing the price of it with many sources (eg India Bullion and Jewelers Association’s website). The price of gold varies according to 24 carats, 22 carats and 18 carats.
24 carat gold is considered the pure gold, but its jewelery is not formed, because it is very soft. Usually 22 carat or less carat gold is used for jewelery.
Check the price according to carat
Suppose the price of 24 carat gold is 60 thousand rupees per 10 grams. That is, one gram of gold cost 6000 rupees. In such a situation, 1 gram of gold with 1 carat purity was priced at 6000/24 i.e. 250 rupees.
Now suppose your jewelery is made of 18 carat pure gold, while 18×250 i.e. its price was Rs 4,500 per gram. Now, by multiplying by Rs 4,500 in all the grams of your jewelery, the correct price of gold can be extracted.
