GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

Today, almost all jewellery companies have their own wholesale websites, online stores, and social media pages. But a year ago, GOLDNET.MARKET, the first jewellery wholesale marketplace appeared in Russia, a new effective tool for the jewellery market...

20 september 2021

Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

Russia begins hallmarking jewelry made of precious metals

17 december 2020
Image credit: kaboompics (Pixabay)

On December 1, Russia began hallmarking jewelry made of precious metals in a test mode. Hallmarking was initiated by the country’s law enforcement agencies. In this way, they want to reduce the theft of gold, from mining operations to jewelry factories. The hallmarking will become mandatory on July 1, 2021 onwards.
"The hallmarking is meant not for the sake of hallmarking, but for the sake of tracing precious metals to eliminate grey and black areas… We are supposed to apply hallmarks directly on the metal surface of goods. No one has ever done this before in the world," said Eduard Utkin, General Manager of the Russian Jewelers Guild Association in his comments to the FAN news agency.
Striking hallmarks on metal will only apply to jewelry made of gold and platinum. Silver products, blanks of precious metals, precious stones and other items will possibly carry markings on their packages or labels.
But jewelers doubt if it will be at all possible to stamp hallmarks on the metal of any goods. The Guild of Jewelers of Russia has already tested some of the batches of goods and in 20% of cases, hallmarks were indistinct or unreadable.
The system of hallmarking jewelry is also very expensive both for the state and for jewelers: every side will have to buy expensive equipment.
Prices for equipment able to read hallmarks put on metal are also high. According to experts, jewelry hallmarking will cost the state 10 billion rubles.
Foreign wholesale jewelry suppliers will also be required to hallmark their goods.

Alex Shishlo for Rough&Polished