loader image
Connect with us

National News

Government Approves Hallmarking for 9-Karat Gold to Boost Affordable Jewellery Market

New policy aims to revive demand amid falling gold sales by introducing certified, low-karat gold options for cost-conscious and younger buyers.

Published

on

1,920 views

In a significant move to make gold jewellery more accessible and revive declining demand, the government has officially approved hallmarking for 9-karat gold, expanding the range of certified purities beyond the existing 24K to 14K categories.

The new standard—9K gold containing 37.5% pure gold—offers a more affordable alternative for consumers, particularly in rural markets and among younger buyers who are seeking lightweight, budget-friendly jewellery without compromising on quality and authenticity.

Until now, the Bureau of Indian Standards (BIS) hallmarking system certified gold in six categories: 24K, 23K, 22K, 20K, 18K, and 14K. The inclusion of 9K gold marks the first expansion of this framework in years, and is expected to widen the consumer base by making gold ownership more attainable.

The decision follows a sharp 60% decline in gold jewellery sales volume in June, the steepest drop since the Covid-19 pandemic. Industry experts believe this step could reinvigorate demand by addressing affordability barriers and providing greater flexibility to jewellers in catering to varied customer segments.

By broadening hallmarking standards, the government aims to strengthen consumer trust, improve transparency, and encourage the industry to innovate in line with changing market dynamics.

The rollout of hallmark-certified 9K jewellery is expected to begin shortly, with jewellers across the country adapting their offerings to meet the anticipated surge in demand for low-karatage options.

Continue Reading
Advertisement JewelBuzz Banner
Click to comment
Subscribe
Notify of
guest
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

National News

Gold & Precious Metals – A future outlook

Published

on

480 views

The session saw a power packed panel of experts that comprisedSurendra Mehta, National Secretary-  IBJA,Ranjith Singh,Head of Business Development, IIBX, Shweta Dhanak, Director – Vijay Exports,S Thirupathi Rajan, MD Goldsmith Academy, Shivanshu Mehta, SVP & Head Bullion-MCX.The session was moderated by Chirag Seth, Principal Consultant, Metals Focus.

Some salient points made by the panelists:

  • Gold prices are not linked to consumer demand. They are linked to central bank buying and ETFs
  • Till the banking system doesn’t collapse, gold price will continue to rise
  • Jewellers were advised to use a mix of futures and options for risk mitigation
  • Given the current situation manufacturers selling on credit or unfavorable deals could be fatal flaw for business.
  • Precious metals forecast: Surendra Mehta said he sees gold in 2026 in $4900-5100 range and silver in $90-105.Looking further he said by 2030-2035 gold could touch $18000- 20000 and silver could reach $500. Chirag Seth predicted silver touching $105 this year and gold moving in the $ 5200- $ 5500.

Continue Reading

Trending

JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

We would like to hear from you...

GET WHATSAPP NEWS ALERTS

0
Would love your thoughts, please comment.x
()
x