Indian demonetization effect: 15 tonnes of gold sold on Nov. 8-9

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Published : December 08th, 2016
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Category : Market Analysis

Jewellers sold 15 tonnes of gold ornaments and bars, worth around 5,000 crore rupeees, on the intervening night of November 8 and 9 after the government demonetized Rs 500 and Rs 1,000 denomination notes, said Surendra Mehta, national secretary of India Bullion & Jewellers Association. The association has 2,500 jewellers registered with it from across the country.

"We estimate gold worth Rs 5,000 crore, or around 15 tonnes, was sold between 8 pm on November 8 and 2-3 am the next day, after the prime minister's demonetization announcement," Mehta told The Times. He said nearly half of these sales happened in Delhi, Upper Pradesh, and Punjab. He claimed that only 1,000 of around 6 lakh jewellers across the country had accepted Rs 500 and Rs 1000 notes in exchange for gold on the night of November 8.

The association has requested the government to take strict action against erring jewellers as they had brought a "bad" name to the entire trade, Mehta added. ...

... For the remainder of the report:

http://economictimes.indiatimes.com/markets/c...netisation-e...

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From reading the comments at the end of the article mentioned above in economictimes.indiatimes, the people who read it, if they actually did, are almost universally brainwashed (those that aren't bankster/govt trolls paid to shill for them) into actually believing that Modi and their central banksters have their good in mind and are simply trying to get the "bad guys." What total bull scheisse!! Or perhaps this publication is one of the core outlets of their controlled MSM? Perhaps it's like those readers that post comments on the NYT's site, or WaPo's, or other propaganda outlets of the globalists. They should be outraged!!, but they are applauding the govt. So bad...so sad!! Wake up, people of India!! You are all chattal to them...idiots that need to be separated from the gold they try to tell you is worthless...because THEY want it for themselves. They want you to have to receive and use the counterfeit paper and electronic money they create from nothing, "loan" to your govt, and then receive interest payments on, paid for by YOU. WAKE UP!!!
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From reading the comments at the end of the article mentioned above in economictimes.indiatimes, the people who read it, if they actually did, are almost universally brainwashed (those that aren't bankster/govt trolls paid to shill for them) into actuall  Read more
j T. - 12/9/2016 at 12:58 PM GMT
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