Gradually, with remonetisation, demand has picked up. “But at B2B level, unaccounted trade has virtually stopped. "Khandelwal ruled out the entry of unaccounted money in gold jewellery business. “Unaccounted money can only make its way into the bullion business, but not in gold jewellery,“ the GJF chair man said. Organised jewlellery is growing which is good for the gold trade.“ Meanwhile, gold prices on Monday held near a one-week low, as the dollar firmed up after largely upbeat US economic data reinforced the prospects of another rate hike by the Federal Reserve next month.

Source: Economic Times November 07, 2017 04:07 UTC