LONDON, 4 January 2017 – The BBC World Service's flagship financial radio magazine show, Business Matters, today interviewed BullionVault head of research Adrian Ash about the impact of India's shock demonetisation on gold demand in the world's No.2 consumer nation.
The BBC's English-language World Service last year grew its global radio audience to 66 million according to data from the Corporation.
November's sudden cancellation of 86% of India's banknotes in circulation "was meant to be a clamp down on tax dodging and corruption," said BBC business reporter Alex Ritson, "but it also led to thousands of ordinary Indians scrambling for cash."
"Besides demonetisation," explained Adrian, noting how cash was the typical method of paying for gold in India, "you've also got an out-and-out attack on gold demand for 2 or 3 years now" by the New Delhi authorities.
Further ahead however, the shock of demonetisation "makes the case for gold investing long-term, as a store of value," says Adrian – "one which the government doesn't quite have control over."
Listen to Adrian's 3-minute interview, starting at 26:40, on Business Matters here:
