gold smuggling

Seven individuals, including airport service staff and foreign nationals, were apprehended at Mumbai airport in a significant gold smuggling bust. Over Rs 5 crore worth of gold dust mixed with wax was seized. The operation uncovered an international syndicate using transit passengers and insiders to bring contraband into India. Investigations are ongoing to unearth further connections.

A recent surge in gold import duty has fueled a wave of smuggling, with illicit gold now available at discounts of up to Rs 10 lakh per kilogram. This creates a significant price disparity with legally imported bullion, mirroring trends seen after a similar duty hike in 2013. Industry experts warn of escalating unofficial imports.

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In the gripping finale of 'Gold Land', Park Bo Young and Lee Kwang Soo deliver a breathtaking performance as Hee Joo unlocks her inner strength. With an unexpected partnership with Woo Gi, they battle the malevolent antagonist, standing tall as they safeguard the coveted gold bars and herald a promising new chapter in Hee Joo’s life.

India's gold demand is projected to drop by 50-60 tonnes in 2026, a 10% decrease, following a significant import duty hike. The World Gold Council notes this could also boost unofficial gold inflows, a trend observed historically with higher duties. Consumer sentiment and economic factors will also play a role.