Rising Living Costs Push Chennai Families to Sell Gold Jewellery

Rising living costs and high gold prices are prompting more families in Chennai to sell their gold jewellery to meet household expenses, according to a recent survey by a gold-buying company.

The survey found that 68% of respondents sold gold to cover essential expenses, including groceries, utility bills, rent and other daily needs. Nearly 70% received $500 or less from their transactions, indicating that many were seeking small amounts of cash to manage immediate financial pressures.

More than half of those selling gold were employed, highlighting how inflation and rising household costs are affecting working families. Around one in four respondents also said they might sell more gold if their financial situation did not improve.

Industry experts note that high gold prices may encourage people to sell old, damaged or unused jewellery. However, customers are advised to compare offers from different buyers, check prevailing market rates and ensure proper valuation before selling.

The findings highlight how gold is increasingly serving as a financial safety net for families facing rising living costs.