Old-gold exchanges surge 60% YoY as record prices reshape jewellery sales mix
Indian jewellers report a sharp shift to recycled gold: exchanges now drive 65% of Joyalukkas sales (up from 40-45%) and 40-45% at Kalyan (up from 30%). Tanishq saw 440,000 customers swap 10 tonnes in 8 months. Trigger: 24K gold at ₹1,56,086/10g vs ₹99,961 a year ago, plus 15% import duty.
Indian jewellery retailers report old-gold exchanges surged ~60% YoY as record prices and higher import duty push consumers to recycle. Joyalukkas, Kalyan and Tanishq say exchanges now drive 40-65% of sales.