The Indian household believes in gold reserve.
Being second largest importer of Gold, it impact India balance of payment. In
most of the function happening in Indian family, gold is considered to be the
main gift.
Post demonetization of 500 & 1000 notes and sharper eye on Gold buyer and seller by Government of India respective department is going to change the buying pattern of Indian.
Now Gold seller need to take all information from buyers along with that need to give that detail to government which will stop cash transaction based Gold buying trend.
On an average India import around $5Bn worth of gold which impact on current account deficit but most of the gold are being bought by cash hoarder which is going to be out of the system.
On a contrary, being a safe heaven, gold will remain the first choice of investment by Indian consumer but the price of gold is going to be 15% expensive in coming months.
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