Post-demonetisation, Mumbai's gold markets dull, deserted
By GCRU Gold News on Saturday, November 26 2016, 00:10 - Permalink
Post-demonetisation, Mumbai’s bustling and glittering Zaveri Bazar, the national bullion and jewellery market, wears a forlorn, deserted look.
Thousands of big and small jewellery shops and glittering showrooms in India’s oldest and biggest hub, as well as retail outlets in the eastern and western suburbs, eagerly await the elusive customers.
Mumbai Jewellers Association Vice President Surinder Kumar Jain said that in terms of volumes, the industry has taken an unprecedented beating with business down by “more than 90 percent” in the peak wedding season.