Jewellers Incentivise Customers who Sell Old Gold

July 12, 2013 at 08:32


Starved of steady gold supplies due to a slew of government restrictions, jewellers have decided to incentivise customers who sell old gold to increase the flow of recycled gold in the market. The trade is expecting that the move can unlock 200 tonne of household gold as compared to 80 tonne in the previous years.

Leading jewellers like Gitanjali, TBZ and Rajesh Exports are running schemes to bring household gold back into the market to ensure smooth supply of the metal at a time when Reserve Bank of India is tightening gold imports. According to industry estimates, nearly 20,000 tonne of gold is lying idle in Indian households.