High gold prices spark a rush to sell old jewellery
Synopsis Indian households are cashing in on high gold prices, selling nearly 50 tonnes of old jewellery in the last quarter, a 43% jump year-on-year
Synopsis Indian households are cashing in on high gold prices, selling nearly 50 tonnes of old jewellery in the last quarter, a 43% jump year-on-year. Fearing a price drop from ₹1.4 lakh to ₹1.2 lakh per 10 gm, consumers are opting for cash over new ornaments. This trend fuels the organised gold recycling industry, bringing idle gold back into circulation and reducing import reliance.
The BriefWire