New airport rules to curb gold smuggling in India

Given the spate of smuggling, passengers flying into India would have to declare gold jewellery and bullion brought into the country to customs officials at the airports, in new rules defined by the Finance Ministry.

India Bullion and Jewellers Association and other associations urges Govt for gold policy development for better future

The India Bullion and Jewellers Association (IBJA) have been conducting regular meets to discuss the issues that have been affecting the gems and jewellery business.

Gold smugglers use their creativity to beat law

Gold melted into seed-shaped chips and hidden in dates coming from Dubai, bars broken into granules and mixed with other metals to make it look like ore,

Smuggled gold doubles to 200 tonnes

According to estimates by the global precious metals consultancy GFMS, 150 to 200 tonnes were smuggled in 2013 from Dubai, Singapore and land routes of Bangladesh, Pakistan and Nepal. The agency estimated 112 tonnes had been smuggled in 2012.

Demand in China

Global gold demand fell 15 per cent in 2013 as huge outflows from physically backed investment funds outweighed record consumer demand, according to London-headquartered WGC.