Gold has become very expensive. The price of 10 grams of 24 carat gold is around ₹1 lakh. In India, people buy gold jewellery in large numbers. Especially women like to buy jewellery. But now, due to the high price of gold, many women are not able to buy gold jewellery even if they want to. In this situation, the government has made a big decision. This may increase the sale of gold jewellery in the coming days because now you can buy 10 grams of gold jewellery for less than ₹40,000.
Actually, gold has become so costly that people are now interested in buying cheap 9 carat gold jewellery instead of 22 or 18 carat. People find low carat gold jewellery better because it costs less. That’s why the Bureau of Indian Standards (BIS), which works under the Ministry of Consumer Affairs, has announced that hallmarking will now be required on 9 carat gold jewellery too. The government says this rule will help protect people from fraud.
Benefits of 9 Carat Gold
Now, hallmarking is also required for 9 carat gold jewellery. The Bureau of Indian Standards (BIS) has added 9 carat gold to the list of gold types that must have a hallmark. This rule has started from July. Now, you can buy 9 carat gold jewellery with a hallmark. Earlier, hallmarking was required only for 14, 18, 20, 22, 23, and 24 carat gold jewellery.
Right now, the price of 9 carat gold is around ₹37,000 to ₹38,000 for 10 grams. On the other hand, you need to pay about ₹1 lakh for 22 carat gold jewellery. Because of this new rule, customers will know the correct purity of gold. 9 carat gold is cheaper than 22 or 24 carat gold, and it is also good for making modern jewellery designs.
Hallmarking Will Help Exports
Hallmarking on 9 carat gold jewellery will also help increase exports. This is because many other countries already use 9 carat gold, and they follow similar purity rules. Making hallmarking mandatory will protect buyers and make 9 carat gold more popular.
If we talk about the benefits, hallmarking on 9 carat gold will reduce the cost of jewellery. People will now have a cheaper option for buying gold. Hallmarking also confirms that the 9 carat gold has 37.5% purity. Now, jewellers and hallmarking centres must follow this rule.
How to Check Real Jewellery
To check whether gold jewellery has real hallmarking, you can use the BIS Care app. This app is by the Bureau of Indian Standards. You can enter the HUID (Hallmark Unique Identification) number given on the jewellery to check its purity. You can also check it by visiting the BIS website.
It is also important to know that when you buy 22 carat jewellery, it has 2 carats of other metal mixed with gold. 18 carat jewellery has 6 carats of other metal. But if you are buying jewellery as an investment, then it is better to buy 22 carat gold.
Why Hallmarking Is Important
Hallmarking helps you know the exact purity of the gold. When you buy gold jewellery, a small mark is made on it. This mark tells you how many carats the jewellery has and what its quality is. This assures the buyer that the gold is real and its price is correct. It also makes it easier to sell or exchange the gold in the future.