5 January 2024
In India, where gold is deeply embedded in culture and tradition, the wedding season traditionally sparks a rise in demand. However, with soaring gold prices, a new trend is emerging: recycling gold. Instead of buying new gold, individuals are increasingly exchanging their existing gold jewelry for new designs. Surendra Mehta of the India Bullion and Jewelers Association highlights this shift, noting that while the desire for gold in weddings remains strong, the high costs are driving people towards recycling. This change in consumer behavior could significantly impact gold imports, reflecting an adaptation to the economic reality of higher gold prices.