Gujarat's Gold Sales Stuck in Long-Term Investment Mindset
India's gold rush in Gujarat has yielded a record-breaking ₹3,804 crore from idle jewellery sales between January and June 2026. The sharp rise in gold prices during this period encouraged many people to sell their old and unused jewellery.
The World Gold Council reported that Indians sold a total of 50.4 metric tonnes (MT) of scrap gold during the first six months of 2026, worth approximately ₹76,087 crore. Gujarat's estimated share accounts for nearly 5% of India's scrap gold market, putting it at around ₹3,804 crore.
Haresh Acharya, Director of IBJA, attributed Gujarat's relatively small contribution to the state's investment-oriented mindset towards gold. Many families in Gujarat prefer to hold on to their gold as a long-term asset instead of selling it whenever prices rise. Those who urgently needed money took advantage of the historic price rally and sold their jewellery to meet financial requirements.