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Indians sold 50 tons of old gold jewelry for cash last quarter. That's a 43% jump from the same period last year for a population that loves ****** ding gold. What changed? Prices.
Indian families are rushing to lock in their gains by selling old jewelry for cash. But here's the twist: Indian gold buyers also spent about $20.75 billion, up nearly 50% from last year.
The logic is straightforward: A gold chain bought years ago at, say, $314-419 per 10 grams is suddenly "worth" 4-5x that at the price peak. Suddenly, the gold that felt like a permanent family ****** et starts looking more like an investment position with a visible, bankable profit.
Usually when this happens, people trade old jewelry for new, but this time they opted for cash.
#jewelry
Indians sold 50 tons of old gold jewelry for cash last quarter. That's a 43% jump from the same period last year for a population that loves ****** ding gold. What changed? Prices.
Indian families are rushing to lock in their gains by selling old jewelry for cash. But here's the twist: Indian gold buyers also spent about $20.75 billion, up nearly 50% from last year.
The logic is straightforward: A gold chain bought years ago at, say, $314-419 per 10 grams is suddenly "worth" 4-5x that at the price peak. Suddenly, the gold that felt like a permanent family ****** et starts looking more like an investment position with a visible, bankable profit.
Usually when this happens, people trade old jewelry for new, but this time they opted for cash.
#jewelry
8 hours ago
