LocalCircles’ survey reveals 71% paid over 10% extra for hallmarked gold, possibly due to added charges or lack of consumer awareness. Hallmarking ensures gold purity with a unique mark and ID, protecting buyers from fraud. The government mandates phased hallmarking implementation across India. Despite a nominal cost increase, 27% still buy non-hallmarked jewelry, indicating some jeweler non-compliance. Receipts, crucial for tax tracking and consumer protection, were obtained by 86%. Lack of awareness about hallmarking costs persists, urging better education to prevent consumer exploitation and encourage hallmarking adoption.
Unveiling Hallmarking: A Shield Against Gold Fraud
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