People are not buying gold despite fall in prices: IBJA Secy

India Bullion & Jewellers Association (IBJA) Secretary Surendra Mehta said gold and silver prices have corrected sharply due to rising oil costs, a stronger dollar and asset sell-off amid West Asia war. "Still, there's no [gold] buying happening [in India]. People are sitting on cash and waiting for better opportunities," Mehta said. Prices to recover once oil supply stabilises, he added.