For bulk purchases, such off-the-record cash deals can bring prices down by as much as 6% from prevailing market rates. Dealers who take cash can avoid certain taxes and share some of those savings with buyers. The revival of this informal market is an unintended outcome of a policy intended to reduce India’s demand for gold.For bulk purchases, such off-the-record cash deals can bring prices down by as much as 6% from prevailing market rates. Dealers who take cash can avoid certain taxes and share some of those savings with buyers. The revival of this informal market is an unintended outcome of a policy intended to reduce India’s demand for gold.
