Every Dhanteras, millions of Indians buy gold, adding to the country's already substantial stock of the precious metal. But while fresh purchases remain an important part of India's gold demand, a significant quantity of gold already held by households and temple trusts remains unused.
\n\nCould recycling and monetising this existing gold help reduce India's dependence on imports?
\n\nIndia is estimated to hold around 30,000 tonnes of gold with households and temple trusts, while annual consumption is around 700–800 tonnes, most of which is met through imports, according to Keyur Shah, CEO of Muthoot Exim, the precious metals vertical of the Muthoot Pappachan Group.
\n\nBringing even a small portion of this idle gold back into circulation could help supplement domestic supply. However, the process involves more than simply selling old jewellery.
\n\nConsumers also have options such as gold leasing and monetisation, each with different terms and implications.
\n\nWhy is recycling household gold important?
\n\nRecycling allows old jewellery, coins and other gold items to be processed and reintroduced into the supply chain. This can help meet part of the domestic demand without requiring an equivalent quantity of newly imported gold.
\n\nShah said even recycling a small portion of India's existing gold stock…
Original source: https://www.cnbctv18.com/entertainment/
