Monday, July 15, 2024

Gold Hallmarking: From April 1, The Rules Will Change Regarding Hallmark Jewellery, You Have To Pay Attention To These Things

From April 1, the new rule regarding hallmarked jewellery will come into force. Now whatever gold jewellery will be sold under this rule, will be of 6 digit hallmark (HUID Hallmark Gold Jewellery). Till now the hallmark used on gold jewellery was 4 digits. The government has taken this decision keeping in mind the interest of the customers. Let us inform you that bullion traders were informed about this change 21 months in advance.

HUID Number Will Be On The Jewellery

According to this new rule of the government, now there will be a 6-digit HUID number on the jewellery. HUID stands for ‘Hallmark Unique Identification Number’. Through this number, customers will be able to trace all the information from the maker of the jewellery to its quality.

Customers Will Get This Benefit

From the quality of the jewellery to the information about its maker, customers will get many other benefits. The first thing is that the two types of hallmarked jewellery sold in the market till now will be stopped and 6-digit jewellery will start being available. Secondly, it will increase the confidence of the customers in the quality of gold. Traders also have high hopes for this new rule.

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These Problems Can Come At The Moment

Before this decision, the government had given 21 months’ time to the traders. However, many traders may face difficulties in the initial days. In fact, it may take a long time to convert the old jewellery stock into 6-digit hallmarked jewellery. However, the Jewellers Association says that it may be difficult to complete the process for a few months, but everything will be fine in the future.

Small Bullion Traders Do Not Fear

According to experts, small bullion traders need not be afraid of this new rule. With the implementation of this rule, all jewellers will have to sell hallmarked HUID jewellery. In such a situation, the trust of the customers will increase further on the shopkeepers. This will also increase the sales of small traders working in a limited area. Till now, small traders used to talk about the quality of gold by word of mouth, but the customers will have full confidence that the gold they are buying is genuine.

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