Monday, 9th October 2006 (2506 views)

Purity remains the top preference for buyers of gold products, claims a leading hallmarking company.

MMTC, an Indian-state owned company, stressed that rising prices of metals have lead to a growing number of impurities in products and therefore many buyers are looking to purchase items that are clearly hallmarked to ensure high levels of purity.

Sanjiv Batra, chairman and managing director of MMTC Ltd, speaking to IANS, revealed that such rising incidents of impurities highlights the need for mandatory gold hallmarking especially as more companies attempt to maximise profits at the expense of quality.

"Since the prices of gold and silver continue to remain at higher levels than last year, there is more incentive for impurities [in silver articles] as recent sample checks by the Bureau of Indian Standards have found," said Mr Batra.

He added: "The steep price of gold has seen a 50 to 60 per cent rise in demand for our value added hallmarked products."

MMTC is continuing to develop as a key player in the global gold market and is forecasting strong sales at the forthcoming Festival of Gold event in an attempt to build on its 2005-06 turnover of 163 billion rupees (£1.91 billion).

 

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