Indians sell 50 tonnes of gold in 3 months amid fears of price crash

Indian households sold nearly 50 tonnes of old gold during the April-June quarter, up 43% year-on-year, according to the India Bullion & Jewellers Association. The surge comes amid fears that gold prices could fall from ₹1.4 lakh to ₹1.2 lakh/10 gm. IBJA head Surendra Mehta said consumers are increasingly preferring to sell old jewellery for cash rather than exchanging it.