logo
Can you sell your old, un-hallmarked gold jewellery as 24KT Gold prices near Rs 1 lakh?

Can you sell your old, un-hallmarked gold jewellery as 24KT Gold prices near Rs 1 lakh?

Time of India28-04-2025
With
gold prices
hovering around Rs 1 lakh for 10 grams, many consumers are rethinking their jewellery purchases. A significant shift is underway—rather than buying new
gold jewellery
, people are opting to exchange or sell their old ornaments to capitalise on rising gold prices. However, with hallmarking now mandatory, many are left wondering: can old, un-hallmarked jewellery still be sold or exchanged?
#Pahalgam Terrorist Attack
India stares at a 'water bomb' threat as it freezes Indus Treaty
India readies short, mid & long-term Indus River plans
Shehbaz Sharif calls India's stand "worn-out narrative"
This year, there has been a noticeable decline in wedding-related gold purchases, indicating a change in consumer behaviour. The wedding season is traditionally a peak period for jewellery sales in India, particularly gold, which holds deep cultural and financial significance.
Instead of making fresh purchases at the current high prices, many buyers are opting to exchange their old gold ornaments for new jewellery. This trend not only helps them save on additional outlay but also avoids the burden of paying hefty making charges and GST on new purchases.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Villas For Sale in Dubai Might Surprise You
Villas In Dubai | Search Ads
View Deals
Undo
The World Gold Council, in its February 19 report, stated, 'Wedding-related purchases too have been subdued, suggesting that many consumers had front-loaded their purchases when prices dipped in November. Rather than making fresh purchases, many buyers are opting to exchange old gold for new jewellery. Additionally, as gold prices surged past previous thresholds, many consumers are also taking the opportunity to sell old gold and lock in profits.'
Currently, in India, two precious metals, namely gold and silver, have been included under the purview of Hallmarking. Hallmarked jewellery offers third-party assurance and satisfaction that the customer gets the right purity of gold/silver for the given price (value for money).
Live Events
Can you sell or exchange old jewellery without hallmark?
Yes, you can sell old gold jewellery to jewellers even if it is not hallmarked. The Bureau of Indian Standards (BIS) has stated in its FAQs that consumers are not restricted from selling or exchanging old, un-hallmarked items. Jewellers are allowed to accept such jewellery from customers, although the valuation and purity testing will depend on the individual store's policies and processes.
This ensures that consumers will not face penalties for possessing older pieces bought before hallmarking became mandatory.
Important related FAQs
What is HUID in
hallmarked gold jewellery
?
HUID, or Hallmark Unique Identification, is a unique six-digit alphanumeric number assigned to each hallmarked item in the country and is traceable. Customers can also verify the HUID number in the BIS Care App using the 'Verify HUID' feature.
What does a hallmark on gold jewellery consist of?
Since the introduction of the HUID (i.e., July 1, 2021), the hallmark consists of three marks, viz, the BIS logo, the purity of the article in caratage as well as fineness, and the six-digit alphanumeric HUID number.
Can people sell their old jewellery to jewellers after hallmarking becomes mandatory?
Yes, consumers can sell their old un-hallmarked or hallmarked jewellery, lying with them, to jewellers.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Months after Ratan Tata's death, BIG achievement by Noel Tata, this company's profit jumps ten times higher in…, earns Rs 262320000000, it is…
Months after Ratan Tata's death, BIG achievement by Noel Tata, this company's profit jumps ten times higher in…, earns Rs 262320000000, it is…

India.com

time14 minutes ago

  • India.com

Months after Ratan Tata's death, BIG achievement by Noel Tata, this company's profit jumps ten times higher in…, earns Rs 262320000000, it is…

Months after Ratan Tata's death, BIG achievement by Noel Tata, this company's profit jumps ten times higher in…, earns Rs 262320000000, it is… Tata Sons net profit has jumped nearly 10 times in the last half-decade to Rs 26,232 cr in FY25. By Anirudha Yerunkar Edited by Anirudha Yerunkar Advertisement Tata Sons, the primary investment holding company of the Tata Group, recorded a nearly ten times increase in its profit after tax over the past five years, rising to Rs 26,232 crore in FY 2024-25 from Rs 2,680 crore in FY 2019-20, as per its latest annual report. In terms of revenue, the company saw it climb over one-and-a-half fold to Rs 38,835 crore in FY25 from Rs 24,896 crore in FY20. Advertisement === The net worth of the company also surged nearly three-and-a-half times to Rs 1,49,680 crore in FY25 from Rs 45,586 crore in FY20. Tata Sons Revenue Tata Group's aggregate revenue stood at Rs 15,34,341 crore in FY25 as compared to Rs 7,89,057 crore in FY20, as per Tata Sons' annual report for 2024-25. Advertisement === Tata Motors remained the biggest revenue earner for the group at Rs 4,45,939 crore in FY25, up from Rs 2,64,041 crore in FY20. Tata Consultancy Services was the next with a revenue of Rs 2,59,286 crore in FY25, up from Rs 1,61,541 crore in FY20. Tata Steel was the third biggest revenue earner for the group at Rs 2,20,083 crore in FY25, up from Rs 1,50,794 crore in FY20. Tata Sons Performance Among the unlisted entities, Air India, which was acquired by the Tata Group in 2021, reported revenue of Rs 78,636 crore in FY25 and Tata Electronics, established in 2020, posted revenue of Rs 66,601 crore in FY25. Tata Digital posted revenue of Rs 32,188 crore in FY25, up from just Rs 7 crore in FY20. As per the annual report, Tata Sons Chairman N Chandrasekaran's total compensation in FY25 was at Rs 155.81 crore, up 15 per cent from Rs 135.32 crore in FY24. He is among the highest-paid industry leaders in India. For FY25, Tata Sons said based on its performance, the directors have recommended a dividend of Rs 64,900 per ordinary share on 4,04,146 ordinary shares, which if declared by the shareholders, would involve a cash outflow of Rs 2,622.91 crore. In the previous year, the dividend was at Rs 35,000 with an outgo of Rs 1,414.51 crore. The directors have also recommended a dividend on the cumulative redeemable preference shares (CRPS) amounting to Rs 13 lakh. In the previous year, it was at Rs 19.78 crore. (With Inputs From PTI)

Employment-linked incentive scheme to be effective from August 1
Employment-linked incentive scheme to be effective from August 1

New Indian Express

time14 minutes ago

  • New Indian Express

Employment-linked incentive scheme to be effective from August 1

NEW DELHI: The Employment Linked Incentive (ELI) Scheme, which aims at providing inclusive and sustainable employment opportunities in the country, will come into effect from August 1. It will be renamed as `PM Viksit Bharat Rozgar Yojana (PM-VBRY)'. The scheme was cleared on July 1 by the Union Cabinet chaired by PM Narendra Modi. The benefits of it would be applicable to jobs created between August 1, 2025 and July 31, 2027. An official release from the Labour department said, 'With an outlay of Rs 99,446 crore, the PM-VBRY aims to incentivise the creation of more than 3.5 crore jobs in the country, over a period of 2 years. Out of these, 1.92 crore beneficiaries will be first timers entering the workforce.' The scheme incentivises employers across different branches to create new jobs. 'It forms a crucial part of India's strategy to accelerate economic growth through employment-led development,' it added. The Scheme consists of two parts with Part A focused on first timers and Part B focused on employers: Part A: Incentive to first-timers Targeting first-time employees registered with Employees Provident Fund Organisation (EPFO), it will offer one-month Employees Provident Fund (EPF) wage up to Rs 15,000 in two instalments. Employees with salaries up to Rs 1 lakh will be eligible. The 1st instalment will be payable after 6 months of service and the 2nd instalment will be payable after 12 months of service and completion of a financial literacy programme by the employee. To encourage the habit of saving, a portion of the incentive will be kept in a savings instrument or deposit account for a fixed period and can be withdrawn by the employee at a later date, it added.

Bombay HC issues notice on BCCI's appeal against Rs 538 crore arbitration awards to defunct Kochi Tuskers
Bombay HC issues notice on BCCI's appeal against Rs 538 crore arbitration awards to defunct Kochi Tuskers

Indian Express

time14 minutes ago

  • Indian Express

Bombay HC issues notice on BCCI's appeal against Rs 538 crore arbitration awards to defunct Kochi Tuskers

The Bombay High Court on Friday issued notice in appeals filed by Board of Control for Cricket in India (BCCI) challenging a single-judge bench order that upheld two arbitration awards worth over Rs 538 crore granted in favour of the now-defunct Indian Premier League franchise Kochi Tuskers Kerala. A division bench of Justice Shree Chandrashekhar and Justice Manjusha Deshpande restrained Rendezvous Sports World (RSW) and Kochi Cricket Private Limited (KCPL) from withdrawing the amounts already deposited by the BCCI for eight weeks. The BCCI filed an appeal against the June 18 verdict of the single-judge bench of Justice Riyaz I Chagla that dismissed the BCCI's plea challenging arbitral awards. The franchise took part in only one season of the IPL, in 2011, under a consortium led by RSW and KCPL. The dispute began after the BCCI in September 2011 terminated the Kochi Tuskers Kerala due to alleged breach of the franchise agreement. Aggrieved RSW and KCPL began arbitration proceedings alleging 'wrongful' termination. On June 22, 2015, the arbitral tribunal awarded over Rs 384.83 crore to KCPL and over Rs 153.34 crore to RSW, along with interest and costs. The BCCI challenged the award before Bombay HC, which was upheld on June 18. Justice Chagla had held that arbitrator's conclusion was substantiated by records and there were 'no valid grounds' and 'no patent illegality' raised in BCCI's two pleas to warrant interference with the arbitration awards. Justice Chagla had permitted the KCPL and RSW to withdraw amounts deposited by the BCCI after six weeks. However, the BCCI filed an appeal against the single-judge bench order. The two-judge bench is likely to begin the final hearing on BCCI's appeal from September 17.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store