The sharp rally in gold prices has prompted consumers to trade in old household jewellery for new this festive season, driving the share of gold exchanges in total sales to record levels during the Navratri-to-Dhanteras period, according to a report by The Economic Times.

For Tata-owned Tanishq, exchanges are expected to account for nearly half of total sales value on Dhanteras this year, compared with about 35% a year ago, ET reported. Reliance Retail told analysts that roughly one-third of its gold jewellery sales now come through exchanges, up from 22% last year, while Senco Gold said the share has risen to 45% from 35%.

Reliance Retail chief financial officer Dinesh Taluja told ET that consumers are opting to recycle gold rather than invest in fresh purchases due to the steep rise in

See Full Page