Within weeks after the ban on 500 and 1000-rupee notes was announced in 2016, more than ₹5,000 crore of gold jewellery and bullion were believed to have been purchased with the de-legalised currency bills. Almost overnight, gold prices had shot to ₹40,000 (per 10 grams) as buyers rushed to salvage their cash.from Personal Finance News-Wealth-Economic Times https://ift.tt/2H8y8ZU
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