Mumbai - Demonetisation has caused deflation in the market. The gold price has reduced drastically, the current price of the gold is Rs 26,000/gm.
Only 10 - 20% gold have been sold since demonetisation has hit the market. There is no cash in the market due to demonetisation. Gold prices will come to normal, but this may take four to five months.
Vice - President of Mumbai Jewellers Association, Kumar Jain told Mumbai Live," The limit of buying gold through debit and credit card is up to Rs 2,50,000. In this amount an individual can buy only 50 - 60 grammes of gold, which is insufficient as far as marriage is concerned.