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Festive season is here and on the occasion of <keyword id="23288581" type="General" weightage="20" keywordseo="Dhanteras" source="keywords">Dhanteras</keyword> today, buying jewellery is customary for many. If you are also planning to buy jewellery this festive season, this is for you. The <keyword id="20050220" type="General" weightage="20" keywordseo="Bureau-of-Indian-Standards" source="keywords" meta.keywordsubtype="org" meta.entityname="Bureau of Indian Standards" meta.hostid="261" meta.entityid="Bureau of Indian Standards">Bureau of Indian Standards</keyword> (BIS) is placing special emphasis on consumer awareness around gold and silver purchases, specifically advising shoppers to choose items backed by the <keyword id="21548543" type="General" weightage="20" keywordseo="BIS-hallmark" source="keywords">BIS hallmark</keyword> for guaranteed purity and quality. The hallmark, as the BIS notes, is a crucial indicator of authenticity, especially given the high value traditionally associated with gold purchases during this festival. The BIS hallmark consists of three critical components: the BIS Standard Mark, confirming adherence to quality standards; the Purity Mark, which denotes gold’s fineness and carat purity; and a unique Hallmark Unique ID (HUID), a six-digit alphanumeric code specific to each jewellery piece. Consumers can verify the HUID on their jewellery using the ‘<keyword id="23727070" type="General" weightage="20" keywordseo="verify-HUID" source="keywords">Verify HUID</keyword>’ feature on the BIS Care App, which is free to download. This added verification step ensures customers can make informed purchases that meet the advertised purity levels, making the hallmark a trusted seal during peak shopping seasons. As part of its hallmarking efforts, BIS has made hallmarking mandatory in several regions of India since June 2021. Originally launched in 256 districts, hallmarking has been expanded to cover 343 districts following three phases of implementation, according to BIS. The scheme has had a substantial impact, with the number of BIS-registered jewellers increasing from 43,153 in 2021 to over 193,567 today. Furthermore, the number of Assaying and Hallmarking Centres (AHCs) now stands at 1,611, reflecting an extensive infrastructure to meet rising demand. Hallmarking fees have been set at Rs 45 per piece (exclusive of taxes), with testing available at AHCs for Rs 200 per item, a move BIS believes supports consumer confidence by offering a third-party verification system. Director General of BIS, <keyword id="22532001" type="General" weightage="20" keywordseo="Pramod-Kumar-Tiwari" source="keywords">Pramod Kumar Tiwari</keyword>, reiterated BIS’s commitment to upholding <keyword id="21945794" type="General" weightage="20" keywordseo="quality-standards" source="keywords">quality standards</keyword> in gold purchases, especially during festive seasons like Dhanteras, when jewellery is traditionally seen as a symbol of prosperity and future security. Tiwari encouraged consumers to prioritise BIS-certified jewellery, highlighting that with the hallmark and BIS CARE app, buyers can validate purchases independently. With Dhanteras marking a peak in gold buying as families seek financial security, BIS is focusing on educating consumers about hallmarking as a means to safeguard investments. This growing system of certification, backed by government oversight, is intended to make buying gold a transparent, secure experience—one that helps consumers focus more on the joy of the purchase and less on the risks associated with authenticity. (with ANI inputs)

Buying gold jewellery this Dhanteras? Here is how you can verify authenticity as per BIS

India is celebrating <keyword id="23288581" type="General" weightage="20" keywordseo="Dhanteras" source="keywords">Dhanteras</keyword> today, even as the public remains cautious about adding gold's glitter to their portfolios, given the metal's sky-high prices. <keyword id="19910265" type="General" weightage="100" keywordseo="gold-prices" source="keywords">Gold prices</keyword> went past the Rs 81,000 mark today in Delhi. Per IBJA (<keyword id="20397944" type="General" weightage="20" keywordseo="India-Bullion-and-Jewellers-Association" source="keywords">India Bullion and Jewellers Association</keyword> Ltd.), the cost of 24K gold stood at Rs 7,885/gram today, while 22K gold was priced at Rs 7,695/gram. While jewelers anticipate some increase in customer footfall today, between afternoon and late evening, the All India Gem and Jewellery Domestic Council expects sales volumes to remain steady at around 20 tons. However, per their estimates, sales this year might be down by 5% compared to last year. The <keyword id="19921618" type="General" weightage="20" keywordseo="Confederation-of-All-India-Traders" source="keywords" meta.keywordsubtype="org" meta.entityname="Confederation of All India Traders" meta.hostid="261" meta.entityid="Confederation of All India Traders">Confederation of All India Traders</keyword> (CAIT) projects nationwide retail trade worth Rs 50,000 crore during this Dhanteras. Even quick-commerce companies are cashing in on the Dhanteras sentiment. While Blinkit has partnered with Joyalukkas and Malabar Gold and Diamonds to deliver gold and silver coins in 10 minutes, Zepto has teamed with Augmont and Malabar for the same. Per media reports, Swiggy Instamart has partnered with Muthoot Exim and Malabar, while BigBasket has tied up with Tanishq. Legend has it that it was on this day that Lord Dhanvantari, the deity of health, appeared today, making brass utensils particularly auspicious for purchase. People also seek blessings from Lord Ganesha, Goddess Lakshmi, and Lord Kuber, and it is considered auspicious to buy gold and silver jewelry, utensils, kitchenware, vehicles, garments, and electronics on this day. <h2>The appreciation of gold</h2> Gold has had a great run this year, having a YTD (yield-to-date) of 24%. Despite high prices, the demand for gold this festive and wedding season is expected to remain buoyant in India. The yellow metal's demand as a haven has jumped up significantly in recent times, owing to <keyword id="19955176" type="General" weightage="20" keywordseo="geopolitical-tensions" source="keywords">geopolitical tensions</keyword> like the ongoing Israel-Hamas conflict. Moreover, with governments across the world trying to tame inflation and boost spending by way of rate cuts, gold is increasingly being seen as an effective hedge against inflation. Experts suggest that the demand is set to remain elevated for the times to come. "The immediate outlook for gold remains robust, supported by the recent import duty reduction from 15% to 6%, which has already stirred significant market activity with imports doubling year-over-year. Despite price changes, the traditional festive and wedding seasons continue driving strong demand, with consumers adapting their purchasing patterns," says Vikas Singh, Managing Director &amp; CEO of MMTC-PAMP. "Looking ahead, multiple structural factors paint a positive long-term picture. There is an overall trend of increasing gold holdings providing sustained price support. While physical gold remains paramount, there's increasing interest in gold investments, particularly among urban consumers," he continues. <h2>How to check if your gold is pure </h2>First, always make sure to buy only hallmarked physical gold. "Hallmarking is the accurate determination and official recording of the proportionate content of precious metal in the precious metal article. Hallmarking provides consumers with third-party assurance and satisfaction that they get the right purity of gold (or silver), the government noted in a press release yesterday, urging customers to buy only <keyword id="23040621" type="General" weightage="20" keywordseo="hallmarked-gold" source="keywords">hallmarked gold</keyword> and silver. Hallmarked gold is characterized by a few specific marks, like the logo of BIS (Bureau of Indian Standards), the jeweler's mark, and that of the hallmarking center. During the process of hallmarking, each piece of gold or silver is assigned a 6-digit alphanumeric code or HUID (Hallmark Unique Identification). Download the BIS Care app on your phone and enter this code using the verify HUID icon on the app. This will help you test the veracity of your purchased gold.

Gold continues to shine bright on Dhanteras, but should you participate in the glitter?

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Buying gold jewellery this Dhanteras? Here is how you can verify authenticity as per BIS

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Gold continues to shine bright on Dhanteras, but should you participate in the glitter?

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