Encourage recycling of gold, says merchants association

The Kerala Gold and Silver Merchants Association has sought steps for reuse of gold against the backdrop of Prime Minister Narendra Modi’s call to stop purchasing the metal in view of the crisis in West Asia.

Association president K. Surendran told the media on Tuesday (May 12, 2026) that the Union government should implement a policy to encourage the recycling of gold and a proper bullion banking system. This could help reduce the import of gold and save precious foreign currency. Mr. Surendran also said that such steps could boost the gold business as well.