India is the second largest consumer of Gold with the demand for yellow metal crossing over 690 tonnes in 2019, according to a recent report by IBEF. Over the years, gold has continued to be the safety net and investment instrument of choice for Indian families. Considering its significance in festivities and auspicious occasions, purity of gold becomes a critical aspect of buying gold.
With a span that thousands of years, the tale of jewellery in India is long and encrusted with fascinating myths, legends, cultural influences and artistic expressions of the time. Be it the beaded necklaces of the Indus Valley civilization or the temple gold of South India, the astrological link of gemstones and destinies or the fame of diamonds mined from Golconda, the history of jewellery in our nation is in many ways the history of the country itself.
Over the years, while jewellery came to signify power and prosperity to the ruling classes, for thousands of commoners, it became an integral part of social and economic security. With agriculture and trading incomes being fickle, investments in gold and silver became the inalienable hedge against the vagaries of the future. Such has been the sway of these precious metals that even with the advent of modern lifestyles and salaried jobs, the special place they hold in the heart of Indian families has not diminished the least. If anything, it has become more rooted than ever.
With economic prosperity, gold has become the metal of choice in our homes. From the birth of a child to a wedding in the family, it is a part of all auspicious occasions. It is no surprise then that ‘purity’ as an attribute has come to assume primary importance in the scheme of things. After all, who would like to compromise on the virtuousness of something that is part and parcel of so many auspicious occasions in life?
Which brings us to the question: how ‘pure’ is the gold that is part of such important social events?
Responsible sourcing
As consumer awareness has increased over the years and standards like BIS hallmark have been adopted by many leading jewellers and the purity of the metal composition in any piece of gold has been standardized to a certain extent. Terms like Karats and 916 logo have become common knowledge for buyers to look for.
But the fact is that this is nothing but being selective on the topic of purity of gold. Because the purity of gold that you purchase to celebrate precious moments, cannot be reduced to just its metal composition. It needs to be pure in its entirety, right from the mining stage till the time it finds its way into the consumer’s hands. Only if it is irreproachable in this wholesome manner can it be truly termed pure.
Global gold supply chains remain cloudy even today. There exist many malpractices that have a direct impact on the propitiousness of the gold that we purchase. Smuggling, human right violations, child labour, money laundering, terrorist financing etc are ugly realities of the gold supply chain that we often paper over. As consumers, we often turn a blind eye to these aspects and wish them away. But for how long? Is it not time that we ask ourselves: does this shiny piece of metal that gives us so much joy bring tears to those involved in making it available to us?
Indeed, it is time that we all get sensitized to sustainable and responsible gold acquisition practices. Unless we come together and demand that the jewellery being presented to us is sourced keeping ethical standards in mind, the purity of the jewellery that adorns us will always be questionable. Governments at both the centre and states too have to frame the necessary rules and regulations towards this goal.
In conclusion
If there is one thing that Covid-19 has taught us all, it is that the days of mindless exploitation of the environment are behind us. Sensitivity and consideration for others is a sine qua non. Responsible sourcing will add further sheen to gold whose shine has us all enthralled.
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