Inquiries to buy gold increase after RBI withdraws Rs 2,000 note
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ANI
Bullion traders’ body GJC said on Sunday, “However, unlike the situation seen during demonetisation in 2016, there is no panic buying of gold now.” The purchase of gold against Rs 2,000 notes has actually been low due to
After the Reserve Bank of India’s (RBI) decision to withdraw Rs 2000 notes, inquiries regarding the purchase of gold and silver from jewelers have increased. India has the second largest consumption of gold in the world after China. Bullion traders’ body GJC said on Sunday, “However, unlike the situation seen during demonetisation in 2016, there is no panic buying of gold now.” The purchase of gold against Rs 2,000 notes has actually been low due to
Sources, however, said that some jewelers have started charging a premium of 5-10 per cent on gold purchase due to which the yellow metal is priced at Rs 66,000 per 10 grams. At present, gold in the country is at the level of around Rs 60,200 per 10 grams. Sanyam Mehra, chairman of the All India Gems and Jewelery Domestic Council (GJC), told PTI, “There have been a lot of inquiries to buy gold or silver with Rs 2,000 notes, hence more customers turned up at shops on Saturday. However, due to stricter KYC norms, the actual buying has come down.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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