Gold Hallmarking centres shut in Kashmir amid fake certification row

Srinagar, Sep 2: Kashmir’s gold trade has been thrown into turmoil after all three authorised hallmarking centres in the Valley suspended operations indefinitely in protest against the alleged circulation of fake hallmark certificates.

The All Kashmir Gold Dealers and Workers Association, which is spearheading the shutdown, said the malpractice has shaken consumer trust at a time when gold prices have already risen manifold, making the yellow metal the most preferred hedge against economic uncertainty in the region.

Association president Bashir Ahmad said the hallmark centres at Hari Singh High Street, Lal Chowk, and Downtown Srinagar were forced to close after repeated complaints of forged stamping went unaddressed. “This strike is not against consumers; it is for their protection. Fake hallmarking not only cheats buyers but also risks penal action against genuine centres,” he said.

The Association warned that the closure comes during the wedding season when gold sales are at their peak, which could severely disrupt the market. Ahmad urged the Bureau of Indian Standards (BIS) and government authorities to immediately crack down on unscrupulous traders misusing the hallmark system.

He noted that while imported gold enters the Valley with authentic certification, locally manufactured jewellery remains vulnerable to forgery, leaving customers exposed. “People are investing their hard-earned savings in gold because its value has surged. That trust must not be broken,” he added.

The Association has already flagged the issue with BIS, which has assured action, but dealers said the protest would continue until fake hallmarking units are identified and booked. In the meantime, they advised customers to seek written guarantees from jewellers before making purchases.