Here is a reason why the POG and Gold producers are rising...

Here is a reason why the POG and Gold producers are rising strongly, at least this would have a positive impact on the POG.

Since Mode took out the big denomination notes in India the Real Estate market has taken a nose dive and looks like getting a whole lot worse.
This is because a lot of the untaxed money in India was parked in Real Estate investments. Mode went after the untaxed money to increase GDP and it looks like it has back fired and the money has disappeared out of Real Estate and out of India.
Given Indias propensity toward Gold I would imagine some of it is flowing into Gold and Gold producers and Gold via online merchants and perhaps the COMEX.


Even Trump Building Isn’t Immune to India’s Real Estate Meltdown

by
Pooja Thakur Mahrotri
January 11, 2017, 7:00 AM GMT+10

• Land prices may decline 25 percent, homes 20 percent: analysts
• Cash component of home purchase often as much as 50 percent

After trying for four months to sell his apartment in a western suburb of Mumbai, Meher Verma decided to cut the price by 10 percent. With property demand plummeting in the wake of November’s sudden ban on high-denomination notes, he’s not sure the reduction will do the trick.
“I was hoping to sell my house soon,” said Verma, who put his two-bedroom property in Andheri on the market for $400,000 in September. “Now it looks like I might have to cut my price or wait much longer for the market to improve.”
Real estate has long been a place where Indians have parked cash, often using money on which taxes haven’t been paid. Now, with Prime Minister Narendra Modi’s crackdownon so-called black money and the underground economy, real estate is taking a hit. The rate of home sales has fallen by about half since the government acted in early November, according to an estimate from Khushru Jijina, managing director of Piramal Fund Management Pvt. in Mumbai, who cited discussions with developers. Home prices may decline 20 percent and land prices could plummet as much as 25 percent, according to analysts’ projections.

https://www.bloomberg.com/news/arti...-isn-t-immune-to-india-s-real-estate-meltdown