Gold Silver Reports – India’s gold imports in the last quarter of 2017 could drop by a fourth from a year ago due to weak demand during key festivals and as investors seek better returns from riskier assets like equities, industry officials and analysts said.
Day: November 8, 2017
1 Year of Demonetisation: Sensex Jumps 6000 Points in 12 Months; is it Bad?
Gold Silver Reports – Demonetisation – A year ago, on 8 November 2016, Prime Minister Narendra Modi announced a ban on Rs 500 and 1,000 currency notes in a bold move to eliminate black money out of the system. The higher denomination notes of Rs 500 and 1,000 which accounted for about 85% worth of currency in circulation was turned into just a piece of paper overnight.
Trump Softens Tone on North Korea, Urges Deal on Nuclear Weapons
Gold Silver Reports – Trump Softens Tone on North Korea, Urges Deal on Nuclear Weapons – President Donald Trump toned down his harsh rhetoric toward North Korea during a visit to Seoul, telling reporters the Pyongyang regime should “come to the table” to make a deal and refusing to rule out direct talks.
No Lasting Impact of Demonetisation on Gold Consumption
Gold Silver Reports – No Lasting Impact of Demonetisation on Gold Consumption – Gold has long been the sump of cash in India. No wonder that gold demand plummeted in the post demonetisation months. But the demand soon bounced back to previous levels in a few months (see table).
One Year After Demonetisation – Cash is Still King
Gold Silver Reports – Soon after demonetisation was announced on 8 November last year, it was projected as part of a broader push towards a cashless economy. Several ministers and government officials claimed that this would nudge Indians to rely on non-cash or digital payments.