9 Karat Gold: 9 Karat Gold is introduced in India

The number of gold buyers in India is increasing day by day. The demand for gold has increased by 1.5% this year 2024. India's gold demand is expected to touch 750 tonnes by 2025. The Bureau of Indian Standards (BIS) has mandated hallmarking of six gold categories by 2022: 14KT, 18KT, 20KT, 22KT, 23KT and 24KT. As people in India are more interested in buying gold, they are going to allow 9 Karat Gold with a hallmark stamp to encourage easy buying of gold. This 9 Karat Gold decision follows a final round of consultations with all major organizations representing gold jewelery traders. An official order is expected to be issued in a few months. From now on, buyers of 9 Karat gold products will be issued an instant purity certificate. Currently 14 Karat gold is dominating the gold market and 9 Karat Gold is expected to find good support among affordable gold consumers.