What does ntm mean on a gold ring?

The abbreviation "NTM" on gold rings typically stands for "No Tax Mexico". It is used to indicate that the ring was made in Mexico from locally mined gold that is not subject to export taxes. This designation serves as a testament to the origin and authenticity of the gold used in the ring, emphasizing its value as an artisanal product of Mexican craftsmanship. It also denotes that the ring has been crafted in accordance with regulations set forth by the Mexican government to ensure the legality and quality of gold jewelry produced in the country.