What is gold recycling, which fell to a nearly 3-year low?

Gold recycling in India fell to a nearly three-year low in the June quarter, despite domestic gold prices being around 60% higher year-on-year. Gold recycling means selling old jewellery, coins or other gold items for cash, which are then processed and re-enter the supply chain. Instead, consumers are exchanging jewellery, borrowing against gold or waiting for higher prices.