India ranks fourth in the world in terms of recycling of gold. Last year it recycled 75 tonnes of gold.
The World Gold Council said in a report that while India’s refining and recycling capacity was only 300 tonnes in 2013, it has increased 5 times to 1,500 tonnes in 2021. Although India may be at number four in this case, But still only 8 percent of domestic gold is recycled here. The rest of the gold comes from outside through imports.
Fluctuations in gold prices, speculation about future prices and economic conditions have led to a rise in recycling. Last year, China was at the forefront of gold refining and recycling. It used 168 tonnes of gold for this. Italy recycled 80 tonnes at number two and 78 tonnes of gold by the US at third. PLC/GT