India now the fourth largest gold recycling country: World Gold Council

India has emerged as the fourth largest gold recycling country in 2021, recycling 75 tons, or 6.5 per cent of the total gold recycled across the globe, said a recent report by the World Gold Council (WGC). Over the past five years, 11 per cent of India's gold supply came from 'old gold'; driven by movements in the gold price, future gold price expectations and wider economic outlook, the WGC report said.

Recycling of gold (jewellery, manufacturing scrap, and end-of-life industrial scrap), according to WGC's findings, is driven by price movements of the yellow metal - current and future expectations,