Wednesday, 18th May 2005 (3970 views)

A gold assaying centre is to be set up in Somajiguda, India, to address the sale of impure gold.

The centre will be the first of its kind in the state and will be set up by Century Hallmarking, a firm based in Kerala, according to New Ind Press.

Approval has been obtained from the Bureau of Indian Standards (BIS) and it is hoped the facility will be created within three months, although the company has not formally applied for a licence yet.

Third party certification will be issued to bullion merchants after the purity of gold jewellery is determined and will mean companies do not need to travel to places like Delhi, Mumbai and Chennai.

The gold hallmarking system came into force five years ago and helps to assure consumers that their gold is pure.

A fee will be collected by the centre for testing the gold, which will vary depending on the jewellery weight.

According to a local jeweller, business by the 3,000 gold shops across the state reaches around five crore rupees per day.

 

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