Hyderabad: After demonetization of currency in Hyderabad City alone, 8000 kg of gold biscuits worth Rs. 2700 crore were purchased against the demonetized currency. 1500 kg gold was brought to Hyderabad in the current month.
Enforcement Directorate reports that purchase of gold with demonetized currency was at its peak during the past 22 days. Since there was no system of getting the details of PAN Cards or identification from the customers who purchased gold worth less than 2 lakh, the details of the buyers are not available with the jewelers. It is reported that the gold purchasers have gone underground and hence it is difficult to trace out their names and addresses.