Indians Sell Nearly 50 Tonnes of Gold Jewellery in Three Months as Prices Ease

Indians have reportedly sold around 50 tonnes of old gold jewellery during the last three months as many chose to book profits amid falling gold prices. According to industry estimates, the surge in old gold sales reflects changing market sentiment, with consumers preferring to sell their jewellery before prices decline further.

At the beginning of the year, the price of 24-carat gold touched nearly ₹1.8 lakh per 10 grams. Since then, gold prices have gradually softened and are currently trading at around ₹1.4 lakh per 10 grams. Market analysts believe prices could fall further, prompting many households to sell their old jewellery while prices remain relatively high.

Data released by the India Bullion and Jewellers Association (IBJA) shows that sales of old gold jewellery increased by nearly 43% during April, May and June compared with the same period last year. According to IBJA National Secretary Surendra Mehta, concerns over a further decline in gold prices have encouraged many people to liquidate their old jewellery.

Economists point out that nearly 90% of India`s gold demand is met through imports. So far this year, India has imported gold worth approximately $72.4 billion. Increased recycling of old gold can help reduce import dependence, save valuable foreign exchange, and strengthen the country`s economy.

Recent estimates suggest that Indian households collectively own nearly 30,000 tonnes of gold. As more consumers recycle and sell unused jewellery, domestic gold availability is expected to improve. Gold recycling in India, which stood at 125–150 tonnes in 2025, is projected to increase to around 250 tonnes this year, highlighting the growing role of recycled gold in meeting domestic demand.