The Ministry of Supply confirmed that the statements of the Minister of Supply Ali El-Moselhi were misinterpreted in one of news websites, regarding the new laser hallmarking of gold jewellery.
The ministry said that El-Moselhi spoke about the new system for laser hallmarking on gold jewelry, which is being prepared for use instead of the traditional method, adding that the Assay and Weights Administration will start applying the new system and will not return to the traditional method once more.
It explained that the new system will not affect the holdings of the average gold investor or consumer; as the previously recognized traditional hallmarking system is still being implemented until the administration starts the new method.
The ministry confirmed that the gold jewelry in the traditional method is valid and approved by the authority and does not require any further hallmarks.
Contributed by: Taarek Refaat
Follow the latest news on Google News
