You are here
India's withdrawal of 2000-rupee note spurs purchases of gold and silver
From the Hindustan Times, Delhi
Monday, May 22, 2023
The demand for bullion saw a sudden jump on Saturday, which dealers in various parts of the country said was expected to continue until people offloaded a bulk of their R2,000 banknotes for gold and silver, even as a rush to exchange the high-value currency notes is expected at banks from Monday.
The Reserve Bank of India on Friday said it was withdrawing from circulation ₹2,000 currency notes introduced seven years ago after demonetisation, resulting in a rush to use the banknotes.
... Dispatch continues below ...
... ADVERTISEMENT ...
Fisher Precious Metals offers great prices
with personal service from a family team
Family-owned and operated Fisher Precious Metals is a great low-cost source for precious metals -- coins, rounds, and bars. But we also get you the highest prices available when you sell your precious metals.
Expect a personal approach with Fisher Precious Metals. You can always speak directly with the owners within 24 hours if not immediately. We provide you a team you can get to know and call at any time to discuss your investments with no pressure to buy.
Check our Google reviews to see what our clients have to say:
Contact us at 1-800-390-8576 or Info@FisherPM.com or visit us here:
People scrambled to buy gold and silver in bulk in bullion markets, leading to increase in prices, dealers in several states said.
"The sale of bullion has shot up after the withdrawal of R2,000 currency notes was announced," said Vinod Maheshwari, a bullion dealer at Lucknow's Chowk Sarrafa market. Traders were selling gold and silver at 10% higher rates to those paying with R2,000 notes, he said, adding that there was no significant increase in the rates of jewellery. ...
... For the remainder of the report:
* * *
Toast to a free gold market
with great GATA-label wine
Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.
Here's what the bottles look like:
Buyers can compose their case by choosing as many as four varietals from the list here:
GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?
To order a case of GATA-label wine, please e-mail Fay J Winery at email@example.com.
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --
-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at firstname.lastname@example.org.
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
|Previous Article||Next Article|
|UAE cashes in with Russian gold as sanction...||Banks win dismissal of U.S. silver price-fi...|