Gold seems to have a very specific place for most desi married women. Many see it as their savior in rainy day. Frankly most desi parents gift their daughters gold at the wedding keeping in mind that it will serve as a financial aid if need be.
Suppose you dont follow that mindset, would you sell the gold to invest the money else where? Reasons could be you dont wear it as much or the designs are becoming out of fashion , upkeep of it is difficult ( bank lockers and what not )
Would you involve your spouse in making that decision?
I wear my gold stuff as needed. I don't mind paying zakat on it. I have jewelry from both my parents and in laws and I don't intend on selling either of that gold.
Ring exchange is a real custom in the desi culture, except it doesn’t get played out like how it’s in the West. Typically it’s part of the baat pakki, and it’s the MIL that puts the ring on the girl. The guy typically doesn’t get a ring however. These days the baat pakki is separated into a formal engagement,where the ring exchange happens (again, MILs put the rings on, not the actual couple) or at the actual wedding/barat, though to be all “maadrun” and up to date the couple is now allowed to exchange rings.
As for guys wearing it and it being new or old, my mom had bought my dad a wedding band ages and ages ago, except he lost it on a picnic a few short years later. Quiet recently, as in a few years ago she bought him another one. He wears the new one now