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Heard on the Street: DeMon buyers of gold, silver getting exit now


Grapevine has it that locals who purchased gold plus silver jewellery, and cafes and coins at big premiums post demonetisation on November 8, 2016 currently have an exit with platinum hitting record highs previous Rs 55000 per 10 gm and silver position at Rs 73617 a new kilo Thursday, just self conscious of the record Rs 75020 hit on September 11, 2011.

Back and then, gold traded at close to Rs 30000 per 10 gm and silver from Rs 38000 a kilo. Some residents across the country scurried to change their own Rs 500 and 1000 notes which would cease being legal tender post 12 somethin on my wall on November 8. Within their desperation, they are rumoured to get paid anything between Rs 40000 and Rs 55000 for gold and Rs 40,000-55000 a kilo for silver, apart from different luxury items.

The demonetised notes would be replaced by way of new Rs 500 plus Rs 2000 notes from banks. Those with unaccounted money used several routes to change their tender. It is stated that they now could sell off their wares at breakeven rates in gold as well as for profit in case of silver.

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