India witnesses spurt in Gold smuggling

“Customs officials foiled the attempt by a passenger hailing from Koyilandy to smuggle 3.99 kg of gold concealed in his baggage. The gold, in the form of gold bars, was hidden in a metal box in the rear side of a TV. The gold bars were detected during the X-ray scan. Assistant commissioner Rohit Kumar led the search and seizure operation. Meanwhile, some of the airports have upgraded the scanners and x-ray machines to detect gold smuggling which has risen following the increase in import duty to 8% and differential in gold prices in India and abroad, market analysts said.”

http://www.bullionstreet.com/news/india-witnesses-spurt-in-gold-smuggling/5264

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