{"id":6650,"date":"2012-01-04T13:14:07","date_gmt":"2012-01-04T11:14:07","guid":{"rendered":"http:\/\/www.myza.co.za\/01\/update-1-india-gold-jewellery-move-may-boost-demand\/"},"modified":"2012-01-04T13:14:07","modified_gmt":"2012-01-04T11:14:07","slug":"update-1-india-gold-jewellery-move-may-boost-demand","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-india-gold-jewellery-move-may-boost-demand\/","title":{"rendered":"UPDATE 1-India gold jewellery move may boost demand"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>(Adds quotes, details)<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>By Nigam Prusty<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">NEW DELHI<\/span> Jan 4 (Reuters) &#8211; India has made<br \/>\nhallmarking gold jewellery mandatory, a senior government<br \/>\nminister said on Wednesday, a move that could boost demand in<br \/>\nthe world&#8217;s biggest gold market by taking care of quality<br \/>\nworries.<\/p>\n<p><span><\/span><\/p>\n<p>Bombay Bullion Association President Prithviraj Kothari<br \/>\nwelcomed the move, saying the government now needed to quickly<br \/>\nbuild more hallmarking centres to keep pace with demand.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Gold prices are high. Customers paying a hefty price need<br \/>\nto be assured of quality. It is good move for the industry,&#8221;<br \/>\nKothari said.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Hallmarking can boost investment demand in jewellery form.<br \/>\nCurrently purity concerns deter many consumers from buying<br \/>\njewellery.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>Traders also hope quality assurance would also lead to<br \/>\nhigher jewellery exports.<\/p>\n<p><span><\/span><\/p>\n<p>The move also prompted a call for similar measures on silver<br \/>\njewellery.<\/p>\n<p><span><\/span><\/p>\n<p>Hallmarking silver products is not yet mandatory in India,<br \/>\nwhere jewellery quality is sometimes an issue, mainly with small<br \/>\njewellers, and customers face problems during redemption.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Like gold, the government should make hallmarking<br \/>\ncompulsory in silver. It is a big market. Many people invest<br \/>\nwithout purity guidance,&#8221; Kothari said.<\/p>\n<p><span><\/span><\/p>\n<p>Gold imports by India plunged 56 percent to 125 tonnes in<br \/>\nthe fourth quarter, cutting full-year imports by 8.4 percent as<br \/>\nrecord high prices and high interest rates hit demand.\t<\/p>\n<p> (Additional reporting by Rajendra Jadhav in MUMBAI; Editing by<br \/>\nKrittivas Mukherjee)<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Adds quotes, details) By Nigam Prusty NEW DELHI Jan 4 (Reuters) &#8211; India has made hallmarking gold jewellery mandatory, a senior government minister said on Wednesday, a move that could boost demand in the world&#8217;s biggest gold market by taking care of quality worries. Bombay Bullion Association President Prithviraj Kothari welcomed the move, saying the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-6650","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6650","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=6650"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6650\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=6650"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=6650"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=6650"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}