Soaring Gold Prices Drive Consumers Toward Old Jewellery Exchange

Surging gold prices have prompted Indian consumers to exchange old jewellery instead of utilizing advance purchase schemes. Market leaders faced steep declines in deposits last fiscal, notably Titan's Tanishq chain reporting a staggering thirty-nine percent year-on-year drop. Similar downturns impacted Reliance Retail and Jos Alukkas. Industry experts warn this defensive consumer trend will likely persist until bullion market prices stabilize.