Late last month, the gold trading industry in India announced plans to set up 100 hallmarking centers, and establish a precious metal assay and training institute in an effort to ensure the purity of gold sold in the country.
According to the Economic Times of India, ‘Indian Association of Hallmarking Centres has submitted a proposal to the Bureau of Indian Standards to issue a certificate along with each jewelry sold, capturing its photo, purity, weight and the names of the center that put the hallmark and the jeweler who sold it.’
Gold hallmarks show the purity of a piece of gold jewelry. They generally include the mark of the assaying office that certified the purity, as well as the fineness or caratage of the gold.
‘Caratage’ is the measurement of purity of gold alloyed with other metals. Pure gold is certified as 24 carat. The lower the number the less gold the metal contains. For example, 18 carat gold contains 75% gold and 25% other metals.
This post was published at Schiffgold on JUNE 19, 2017.