Page 25 - Bullion World Volume 5 Issue 08 August 2025

Bullion World | Volume 5 | Issue 08 | August 2025

Bullion Hallmarking: or punches, with detailed marking of five key
Strict Standards for Investment-Grade Products parameters as per the good delivery standards.
Bullion, mainly in the form of bars and coins, is treated 7. Investment Product Status: Bullion is considered
entirely differently under BIS guidelines: an asset class, used for investment or official
exchange—subject to the tightest controls and
1. Product Certification Approach: Bullion typically not resubmitted for retesting.
hallmarking is a product certification, akin to the 8. Refinery Accreditation: Refinery labs must
ISI mark for industrial goods, where each batch meet international quality standards (such as
certified is directly stamped by the manufacturer IS17025:2017, NABL, and ILAC), ensuring
or refinery. confidence for global trade.
2. Licensed Refiners Only: Only BIS-licensed 9. No Hallmarking Centers for Bullion: Ordinary
gold refineries can hallmark bullion; they are BIS-licensed jewellery hallmarking centers do not
responsible for the integrity of the entire batch. conduct such rigorous bullion testing—reflecting
3. Batch-Level Testing: Every batch of bullion the higher standard for investment-grade products.
is tested—there is no random sampling as
in jewellery. Each bar is fully traceable to its
originating refinery. Bottom Line: Why the Two Systems Differ
4. Highest Purity Benchmarks: Testing is even The crux is that jewellery is an artisanal, consumer-
more stringent, allowing only a 0.002 parts product with expected natural variation, demanding
fineness tolerance. Importantly, there is no flexibility and traceability. Bullion, as a global asset and
negative tolerance. Retesting in another BIS lab investment standard, necessitates uncompromising
mandates that bullion must meet at least the accuracy, traceability, and batch-level certification.
specified purity (e.g., 995/999), ensuring only
positive tolerance effects. For Indian jewellers and consumers, understanding
5. No Weight Reduction Permitted: Unlike these distinctions helps ensure compliance, inspire
jewellery, where small negative weight tolerances consumer trust, and support the integrity of Indian
are acceptable, bullion bars must not fall below gold—whether purchased as a treasured ornament or
their marked weight—typically supplied slightly an investment bar.
overweight (e.g., a 5g bar is at least 5.010g)—
removing risk of negative weighing outcomes. For further details, industry members can reach out
6. Distinct Marking Methods: Bullion bars are to the Hallmarking Federation of India or consult with
marked using methods such as embossed stamps authorized BIS representatives.

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