ποΈ 1968 gold ban turned homes into secret vaults
In September 1968, Parliament enacted the Gold (Control) Act to curb gold imports and save foreign exchange. This law restricted bullion ownership and limited new jewelry to a maximum of 14 karats. Instead of reducing demand, the regulation pushed gold trading underground across India. Families, viewing gold as sacred, began secretly stashing heirlooms in hidden parts of their homes. The law was repealed in 1990 after creating a massive black market economy. π°