India makes hallmarking gold jewellery mandatory

Thursday, 5 January 2012 00:00 - - {{hitsCtrl.values.hits}}

Reuters: India has made hallmarking gold jewellery for quality control mandatory, a Senior Government Minister said.

India is the world’s biggest consumer of gold but quality is sometimes a problem, especially with small jewellers and customers facing problems during redemption.

Gold imports by India plunged 56 per cent to 125 tonnes in the fourth quarter, cutting full-year imports by 8.4 per cent as record high prices and high interest rates hit demand.