National News
Hallmarking Federation of India Updates on silver hallmarking
From September 1, 2025, HUID hallmarking will be enforced for silver jewellery, replacing the old four-logo system, though hallmarking will remain voluntary. BIS-registered jewellers can request HUID hallmarking online or through hallmarking centres, with charges fixed at ₹35 per piece. Articles below 4g remain exempt, and only six fineness levels—from 800 to 990—are permitted, in line with international standards.
Hallmarking Federation of India provided updates on silver hallmarking. Given below are the latest updates
- Presently silver hallmarking is voluntary, and not mandatory, for manufacturers and retailers and there is no change in the voluntary hallmarking status even after 1 Sep 2025
- Presently HUID hallmarking is done only for gold jewellery articles and for silver, presently it is old 4 logo hallmarking
- From 1 Sep 2025, HUID hallmarking is enforced for silver articles also, that is to say no more old logo hallmarking for silver jewellery, instead AHCs shall be doing HUID hallmarking on silver articles also. Even after 1 Sep 2025, old hallmarked silver articles can be sold in the shops
- At silver jewellery shops having BIS registration for silver, for getting their silver hallmarking in HUID, they have to submit a hallmarking request online to the BIS portal. First, visit the BIS website, go to the hallmarking dashboard, select your nearest silver hallmarking centre and upload the details of the silver articles to be hallmarked. After HUID hallmarking is completed, the AHC will be issuing a delivery voucher along with hallmarked jewellery
- Another option for the jeweler is to go to the HM centre and the HM centre will upload jewellery details to the BIS portal for generating the HM request on behalf of the jeweler.
- Presently all silver jewellery articles below 4 gm weight need not be hallmarked. That is to say as and when mandatory hallmarking is introduced, all silver jewellery below 4 gm weight are exempted from the purview of mandatory hallmarking
- The BIS prescribed hallmarking charges is Rs 35 per piece. As per BIS guidelines, the hallmarking charge of Rs 35/piece shall be mentioned in the sales invoice of the seller, and can be collected separately from the buyer.
- Presently silver hallmarking is permitted in 6 fineness of 800, 835,900, 925, 970 & 990. Many trade associations have demanded lower purities of 700 etc for silver hallmarking, but the technical committee has rejected it citing that internationally 800 is the lowest purity permitted for silver and the Indian standards have to be aligned with international standards.
National News
Modest Uptick in Gold and Silver Prices as Global Macroeconomic Factors Continue to Influence Market Sentiment
The Surge in Energy Costs has Concurrently Kept the U.S. Dollar Elevated, Creating a Complex Trading Environment for Domestic Commodities
There was a modest uptick in gold and silver prices as global macroeconomic factors—specifically crude oil volatility and a firming U.S. Dollar—continue to influence market sentiment. Gold and silver showed the following movements on the Multi-Commodity Exchange (MCX): Gold (MCX): Traded at Rs 1,48,745 per 10 grams, representing a 0.14% increase from its previous close. Silver (MCX): Surged to Rs 2,38,699 per kilogram, an appreciation of 0.57%.
This follows earlier morning volatility (09:37 IST), where gold briefly dipped 0.08% to Rs 1,48,410 before recovering in response to shifting global indicators.
The upward movement in precious metals coincides with Brent crude oil prices stabilizing near the $110 per barrel mark. This sustained pricing follows the recent U.S. decision to extend the blockade around Iranian ports, fueling supply-side concerns. The surge in energy costs has concurrently kept the U.S. Dollar elevated, creating a complex trading environment for domestic commodities.
Brent crude at $110 remains a significant headwind for the domestic economy. As long as energy prices remain at these elevated levels, investors anticipate a persistent downside risk to India’s growth and a heightened upside risk to inflation.
While futures markets indicate a broad upward trend, retail gold prices continue to vary across Indian cities based on local taxes, duties, and purity levels (22K vs. 24K). Investors are advised to monitor the Federal Reserve’s upcoming announcement, as it will provide further direction for interest rate trajectories and the subsequent valuation of non-yielding assets like gold.
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