In this article for Acting-Man, I analyze the immediate aftermath of India’s demonetization and the sharp rise in gold prices that followed the government’s overnight devaluation of most cash.

Modi’s sudden ban on 500- and 1,000-rupee notes has created chaos across India. Gold prices are surging, cash has disappeared, banks and ATMs are closed, and ordinary people are being forced into uncertainty, black markets, and desperate attempts to preserve value.

Read the archived article at Acting-Man via the Wayback Machine →