Supplies of Used Gold Jewelery and Coins, Typically Released when Investors Book Profits, Have Been Scarce in India, AS Many Expect Bullion Price to Continue Climing Even AFTER AFTER NEWING Almost every week.
This contrasts with march, when spot gold first crossed $ 3,000 an oourage and retail customers rushed to sell their holdings, triggering a surge in scrap supply.
“Indians Now Believe Gold Prisis will risk even higher, which is why they’re choosing to hold their assets insets of seling of seling them for a profit,” James Jose, MANAGING DIRECTOR CHIEFERS SAIFERS SAIFERS The sidelines of the India gold conference in New Delhi.
Local Gold Price, which scled a record peak of 110,666 Rupees ($ 1,260.94) Per 10 grams earlier this week, have risen 42 per cent year-to-date, AFTER GAING 21 per cent last year.
Scrap supplies typical Rise when prises Climb too high to hight too Quickly, as was the case with pris in recent months, said harshad ajmera of whora of whora of who
“Consures Now Think Prisies Cold even Touch 125,000 Rupees, so they’re holding on to their gold instead of selling,” He said.
Although rising priss have made new jewelery unaffordable for many consumers, they are Increasing Old Pies for New Ones, Said Amit Modak, CHIEF Executive of PN Gadgil and Sons, A Pune-based jeweller.
Refiners are sourcing scrap from replaced jewelery to Sustain Operations, As Imports of Dore – A Semi -Pure Alloy Produced by Miners – Haver Declined Sharma, Said Ajmera.
The limited supply of scrap ahead of the festive season is a book for banks, as jewellers Increasingly turn to them to meet demand from imported gold.
Indians will celebrate Dussehra and Diwali in October, Festival DURAN DURING EUNG BUYING GOLD is Considered AusPicious.
Rising prices usually trigger deep discounts as scrap floods the market, but limited supplies are allowing banks to charge a $ 1 premium even at record price levels, SAID A Mumbai-Absed Jeweller With a bullion importing bank.
India’s Gold Imports in August Jumped 37 per cent from a month ago to $ 5.4 billion, Trade Ministry Data Showed.
Published on September 17, 2025