Reverse Gold Rush

Demonetisation has started a unique trend in the bullion and jewellery market. Traders and jewellers are inundated with inquiries from potential gold and silver sellers, who are willing to accept payments in old Rs 500 and 1,000 currency notes provided they get higher prices for their metal. Under this new jugaad, those who bought gold at lower prices capitalise on their asset by seeking a premium over prevailing gold or silver prices. They also accept the payment in scrapped currency notes. The hoarders, on the other hand, buy gold using their old currency notes.

Reverse Gold Rush