Page 12 - Bullion World Volume 3 Issue 11 November 2023

Bullion World | Volume 3 | Issue 11 | November 2023

IGC 2023: Highlights Part 3

Session-2: Bullion Refining in India

Mr Harshad Ajmera, J J Gold House (Left), Mr James Jose, CGR Metalloy, Ms Anindita Chakrabarti, IIT Kanpur,
Mr Pramod Mohan, FinMet Pte. Ltd (Chair), Mr Gautam Choksi, Hindustan Platinum, Mr Ajay Agarwal, SPMCIL,
and Mr Sadi Ahmad, Sam Precious Metals (Right)

Mr Pramod Mohan, in recycled gold. This trend not only
FinMet Pte. Ltd demonstrates the adaptability of the
India boasts the largest recycled gold Indian gold market but also serves as
market in Southeast Asia, with over a sustainable way to meet the ever-
11% of total consumption originating increasing demand for gold, reducing
from old gold. Recycled gold supply the need for extensive mining and its
has increased in the last three years, associated environmental impact.
driven by rising gold prices.
It showcases a conscious effort
This surge in recycled gold supply by Indians to harness the value of
in India over the past three years their existing gold resources while
reflects the country's unique promoting a circular and eco-friendly
relationship with gold as both a approach to gold consumption in the
cherished cultural symbol and a region.
significant financial asset. As gold
Mr Pramod Mohan
prices have risen, more individuals What is the state of the refining
and households have been motivated industry in India? Let’s hear from
to unlock the value of their old gold experts.
holdings, contributing to the growth

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