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People selling old gold jewellery and booking profits: WGC
The Business Guardian
|February 22, 2025
Retail buyers in India are opting to exchange old gold jewellery for new, rather than making fresh purchases, at a time when gold prices are skyrocketing, World Gold Council (WGC) said in its latest India gold market update.
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“Additionally, as gold prices surged past previous thresholds, many consumers are also taking the opportunity to sell old gold and lock in profits,” WGC’s India gold market update read.
The record-breaking surge in gold prices has dimmed the appeal of the retail jewellery demand. The drop in gold imports in January also indicates the pullback in demand.
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