What is the status of the gold jewels WITHOUT HALLMARK?!
Posted on: 25/Jun/2021 1:01:18 PM
Now that the Gold Hallmark regulation has been implemented, a question may arise what is the status of the old gold available in the house!
In this regard, the citizen can easily sell the old gold to the gold jewellery shops! As such, there are no harmful issues for the old gold available in the house!
This new Hallmark Regulation/Rule is APPLICABLE ONLY FOR THE JEWELLERY SHIPOWNERS! THE JEWELLERY SHOP OWNERS CANNOT SELL WITHOUT HALLMARK SEAL!
On the other hand, the customers CAN SELL THEIR GOLD JEWELLERY BASED ON THYE CURRENT MARKET PRICE!
The factor of Hallmark Seal WILL NOT HAVE ANY BEARING WHATEVER IN THIS REGARD!
In case the jewellery trader prefers, he/she can get the hallmarking done for the old jewellery.
An important note:
In case the jewellery trader refuses to take the gold jewellery without Hallmark, LEGAL ACTION CAN BE INITIATED!
The Central Government had announced the regulations regarding Hallmark for Gold in November 2019. These regulations were to be implemented from January 2012. However, due to the prevailing coronavirus pandemic rage situation, the jewellery traders appealed to the Central Government to extend this date of implementation! As such, the date for implementation of the Hallmark regulation Act was postponed until 1st June. Subsequently, it was extended again until 15th June.
