Continued global economic recovery should support consumer demand for global gold jewellery and investment trends throughout 2021
GST is payable only on the margin between the selling price and purchasing price. This ruling would reduce the GST on resale of second-hand jewellery
Hallmarking has now become mandatory. However, you should still identify its purity as most of us buy gold jewellry from local jewellers
Jewellers can also continue to buy back old gold jewellery from customers even if they don’t have a hallmark, the government stated
Gold and silver prices: Gold prices traded marginally down with spot gold prices at COMEX trading at USD 1,778 per ounce
In New Delhi, price of 24-carat gold fell by Rs 1,500 to Rs 50,300 from Rs 51,800 per 10 gm while in Kolkata. it decreased by Rs 1,300 to Rs 47,800
Gold hallmarking: However, watches, fountain pens and special types of jewellery will be exempted from hallmarking
Retailers urge for extended business hours as several states go on unlock mode
It is commonly believed that duping consumers with inferior quality of gold than the declared amount is a common practice by jewellers
Cumulative demand of all types of gold in India is down by 246 tonnes in 2020, WGC data shows