INDIAN JEWELLER

Second precious metals-backed fund announced

Follows Zurich Cantonal Bank's ETF for platinum, palladium and silver

Post By : Diamond World News Service On 20 April 2007 12:00 AM
The Indian government has decided to make gold jewellery hallmarking mandatory. The hallmarking system will facilitate stringent quality checks to check that the purity of gold is upheld.%%Some jewelers in India proposed to adopt a process of self-certification but the proposal was declined by the authorities who thought Indian markets are not mature enough for this approach.%%The time India becomes a credible market and a member of Vienna gold convention, there is great potential for the global share of exports to come here, said Labanyendu Mansingh, Secretary for the Ministry of Consumer Affairs.%%It is certain that such credibility is only possible through hallmarking scheme which will become compulsory from January 2008.

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