India's valuation crisis is coming because of Gold Declined

In India lot of wealth of poor and rich is held in Gold and gold jewelery.People felt rich as gold prices had peaked above $1800 per ounce.Now having dropped to $1500 per ounce people are skeptic.If Gold looses more luster it will be good for India's foreign exchange reserves.Hope and pray that Indians stop putting money in gold and put them in development bonds.Indian banks should stop lending money against Gold also.