Old-gold swaps surge up to 60% YoY as record prices rewire jewellery buying
Exchange-led sales now drive nearly half of revenue at India's top jewellery chains. Joyalukkas pegs 65% of sales from old-gold swaps, Kalyan 40-45%, while 4.4 lakh Tanishq customers exchanged 10 tonnes. Gold at Rs 1.56 lakh/10g and a 15% import duty are reshaping bridal and value-led purchases.
Record gold prices and higher import duty are driving old-jewellery exchange transactions up to 60% YoY at Indian chains. Joyalukkas, Kalyan, and Tanishq report exchange-led sales now near half of total, reshaping bridal and value-conscious buying patterns.