India's silver market hit by purity crisis as refiners push BIS for mandatory hallmarking

With annual silver demand near 7,000 tonnes and investment buying surging, refiners warn that bars, coins and jewellery are routinely adulterated with prohibited metals. Assaying infrastructure trails gold sharply—1,595 hallmarking centres for gold versus 286 equipped for silver. MCX, BSE and NSE are moving to list certified 999-purity silver bars.

Indian refiners urge BIS to mandate silver hallmarking as purity fraud spreads; only 286 silver assaying centres serve a 7,000-tonne market.

ET Retail · 5/26/2026, 7:19:34 AM · Ask about this →

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