"Retail buyers prefer exchanging old jewellery for new." Preparing for his daughter's wedding, Vinayak Patil exchanged 50 grams of old jewellery for new ornaments this month as prices put new jewellery out of reach financially. Old jewellery, also known as scrap supplies, is recycled, and used for jewellery making. Lower demand due to record prices and higher supplies of scrap will cut imports by 20% from a year ago, said IBJA's Kothari. Jewellery demand accounts for three-quarters of the total demand, while investment demand makes up the rest.

Source: bd News24 May 22, 2024 12:19 UTC