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Gold November 24, 2020 11:00:46 PM

WGC Launched New Hard Gold Jewellery Industry Standard

Paul Ploumis
ScrapMonster Author
The WGC noted that there has been increased popularity for 24K hard gold products among manufacturers and retailers.

WGC Launched New Hard Gold Jewellery Industry Standard

SEATTLE (Scrap Monster): Leading gold industry associations and major gold jewellery retail companies have jointly announced the launch of “24K Hard Gold Jewellery Industry Standard” Advocate, at an event held in Beijing, China. The new standard aims to promote the standardization process of 24K hard gold products. 

The standard was jointly drafted by Gem & Jewellery Trade Association of China, China Gold Association, Shanghai Gold & Jewellery Trade Association, Shenzhen Gold & Jewellery Association and World Gold Council (WGC). The jewellery retail companies Caibai, Lao Feng Xiang, Yuyuan Jewellery, China Gold and Chow Tai Fook also played active roles in formulating the provisions.

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The WGC noted that there has been increased popularity for 24K hard gold products among manufacturers and retailers. It has been a preferred choice among fashion-pursuing consumers, especially young generation. However, there has been a lack of industry standards and guidance in the production and sales processes. It is in this context that the first industry standard for hard gold products has come into being.

The industry’s first normative document for 24K hard gold jewellery is expected to create a positive effect on the market.

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