Prime Minister Narendra Modi's move of demonetization drive little question will bring out all of the black money however this has induced panic amongst the general public. The ban, announced by Prime Minister Narendra Modi on 9/11/2016, has been met with wild surprise almost across the board and the impact was almost instantaneous. After issuing the ban, the prime minister categorically said that the notes in query have been the centerpiece of all unlawful money dealings within the country and, therefore, wanted to be dealt with to curb the rampant black cash activities. Worth noting too is the truth that the ban on Rs 500 and a thousand denominations will hardly have an effect on the other forms like money alternate within the black market, notably gold, jewelry, and land. India's black market is a melting pot of among the nation's biggest illicit deals including corruption, laundering, human trafficking, and a host of other shoddy actions involving unaccounted cash. However, analysts also acknowledge that there will be unfavorable consequences within the brief time period, significantly to a large portion of the country's working class as well as rural enterprise institutions. The asset class status would give the Indians the possibility of capitalizing usd gold price and making it as liquid because the inventory of any listed firm.

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