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Scientists Turn Lead into Gold: Alchemist’s Dream Achieved Finally

May 12, 2025, 1:07 pm

In a historic feat, researchers at CERN’s Large Hadron Collider (LHC) have been able to convert lead into gold, though briefly, through high-energy collisions of lead nuclei. This remarkable experiment, part of the ALICE project, makes a medieval alchemist’s fantasy a reality through the application of contemporary physics.

The results, which were released in Physical Review Journals, shed light on the basic forces and conditions that existed in the early moments following the Big Bang. CERN’s ALICE collaboration measures the extent to which lead nuclei, under high-energy collisions, produce gold nuclei, a major milestone in the study of nuclear reactions.

Historically, the alchemical conversion of lead to gold was a medieval pursuit. This pursuit, known as chrysopoeia, was founded on the similar densities of lead and the valuable gold, which was prized due to its scarcity and aesthetic appeal. It wasn’t until later, however, that it was understood that lead and gold are two distinct chemical elements, and chemical reactions could not change one into the other.

Now with the discovery of nuclear physics during the 20th century, it was clear that heavy elements could be both naturally transformed through radioactive decay as well as artificially through bombardment by neutrons or protons. Although artificial gold has already been created by this process before, the ALICE collaboration recently unveiled a novel process through the near-miss collisions of lead nuclei at the LHC and is a monumental achievement in this field.

‘Z+ Security?’: Swiggy Instamart Delivery Agent OTW to Deliver Gold | WATCH

April 30, 2025, 2:28 pm

We have all been using Swiggy Instamart in our daily lives to buy groceries and home essentials. From water, clothes and plasticware to makeup, skincare and electronics, Swiggy Instamart is a one-stop destination to every product that a customer might require. However, few people are aware that Swiggy Instamart is also known to deliver precious metals, including gold and silver.

One such delivery was caught on camera where a Swiggy delivery agent is seen riding a bike with a security personnel on the backseat holding a ‘Swiggy Instamart Locker’ with Gold inside on the occasion of Akshaya Tritiya. The security guard dressed in formal black attire is holding the locker safely in one hand and a tall, heavy baton in the other.

Take a look;

View this post on Instagram

A post shared by Viral Bhayani (@viralbhayani)

The video quickly gained the attention of netizens and went viral on social media. Social media users have been humorously calculating the security of the gold with just one guard with a stick protecting the locker and making it obvious for the thieves and snatchers to actually attack.

Here’s what the internet has to say:

A user hilariously commented, “Is this the high security????” while another simply wrote “Z+.” A third user said, “Chorri karne ke liye easy padega , app aise he video daalte jaiye (It will be much easier to steal, keep uploading such videos.)”

Another user remarked clearly, “Security dada ko yeh dandaa aur tijori leke jo aapne bike pe bithaayaa hai bhai, kya kehne?? ab toh jisko na bhi pataa chaltaa use bhi pataa chal jaayegaa ki woh dekho!! Gold jaa rahaa hai??? (You made it easier for everyone to know that gold is being delivered by the way you sat the secuity guard with a baton and locker.)

What do you have to say about the viral video?

Gold Just Crossed ₹1 Lakh per 10 Grams — Here’s Why Investors Are Rushing to Buy

April 22, 2025, 11:28 am

Gold prices in India have risen above the record ₹1 lakh level per 10 grams, as uncertainty in the world markets keeps fueling a rise in the yellow metal. The price of 24-carat gold is now above ₹10,000 per gram in all major Indian metropolises, such as Delhi, Mumbai, Chennai, Kolkata, and Bengaluru.

As per goodreturns.com, 24-carat is priced at ₹10,150 per gram in Delhi and surrounding cities such as Gurugram and Noida. In other metros such as Mumbai, Chennai, and Kolkata, the price is slightly lower at ₹10,135 per gram. For 22-carat gold, which is widely used in jewellery, the price is around ₹9,305 per gram in Delhi and ₹9,290 in other cities.

The following are the current 24-carat gold prices per gram:

Delhi: ₹10,150
Noida: ₹10,135
Gurugram: ₹10,135
Mumbai: ₹10,135
Chennai: ₹10,135
Bengaluru: ₹10,135
Kolkata: ₹10,135

Global Factors Drive Gold Rally

The rally in gold prices is due primarily to a mounting feeling of insecurity in global financial markets. In the US, gold futures rose 1.7% and ended at $3,482.40 on Monday night. The upsurge occurred following President Donald Trump’s blistering attack on Federal Reserve Chairman Jerome Powell.

“Tariff concerns and the tensions between Trump and the Fed boss have seen investors seeking safer havens, because of which gold has been able to take advantage of a softening dollar,” said Tim Waterer, head of market analysis at KCM Trade.

Trump has urged cuts in interest rates, in contrast to Powell’s move to keep rates at existing levels until more transparency on the effects of tariffs is known. “The President has threatened that the US economy may slow if rates are not lowered,” Waterer said.

Cultural and Financial Importance in India

Gold’s worth in India goes beyond being monetary. It forms a central part of festivals, weddings, and individual investment. As a hedge against inflation and economic crises, gold is a reliable asset that Indian families have faith in.

While global turbulence continues to shake markets, the yellow metal will continue to drive its ascent, particularly with investors looking for financial security in turbulent times.

Will Trump’s Tariff Plans Make Gold The Best Investment Of The Year? | TDG Explainer

April 3, 2025, 12:38 pm

Gold prices are on a remarkable upward trajectory, leaving investors wondering if the precious metal will soon hit the ₹1 lakh mark per 10 grams. The surge comes as US President Donald Trump prepares to announce sweeping tariffs, a move he calls “Liberation Day” for the United States. But what does this mean for gold? Let’s take a closer look.

Gold’s Record-Breaking Rally

In 2024, gold proved to be a strong hedge against inflation, delivering over 20% returns. The momentum has continued into 2025.

On January 1, 2025, gold was priced at ₹79,390 per 10 grams.
By April 1, it had surged by ₹2,000 to hit ₹94,150 per 10 grams, marking its highest level in two months.
The previous record one-day jump was on February 10, when gold gained ₹2,400 per 10 grams.
On April 2, morning trade data from the India Bullion and Jewellers Association Ltd (IBJA) showed gold at ₹90,920 per 10 grams.
In the international market, spot gold hit a fresh peak of $3,149.03 per ounce.

Why Is Gold Rising? Experts Weigh In

Analysts say Trump’s tariff policies are fueling gold’s bull run.

Chirag Mehta, Chief Investment Officer, Quantum Mutual Fund, explained:
“Since the onset of his campaign, President Trump has consistently promoted the ‘America First’ policy, with imposing tariffs on foreign nations being a central aspect of his economic agenda.”

Manoj Jain, Director, Prithvi Finmart, noted:
“Traders are waiting for US tariff announcements, but the overall bullish structure is intact for precious metals due to global uncertainty.”

Kotak Securities highlighted:
“Gold prices have surged to a record high for the fourth consecutive session due to concerns over US trade tariffs. Trump’s planned levies on all trading partners have heightened fears of retaliatory measures and global economic instability.”

Will Gold Hit ₹1 Lakh?

With uncertainty looming, analysts predict gold will remain strong in the coming months.

Prithviraj Kothari, MD, RiddiSiddhi Bullions Ltd (RSBL) stated:
“Trump tariffs will lead to stagflation and a weak dollar index in the next few months, and maybe a recession by the end of the year, which will support gold prices.”

Prathamesh Mallya, DVP-Research, Angel One Ltd, added:
“Gold has been trading in a bullish mode for quite some time as countries deal with tariff wars, economic slowdowns, and interest rate cuts.”

What’s Next for Gold Investors?

As markets brace for Trump’s tariff announcements, gold’s position as a safe-haven asset is stronger than ever. Whether prices will touch the ₹1 lakh mark remains uncertain, but the metal’s strong performance indicates that investors are betting big on gold in 2025.

Gold Prices Surge to Record High as Tariff Concerns Fuel Economic Uncertainty

March 28, 2025, 2:04 pm

Gold prices soared to an all-time high on Friday as concerns over U.S. President Donald Trump’s latest tariff plans sparked fears of a global trade war. Investors turned to the precious metal as a safe-haven asset, pushing spot gold up 0.6% to $3,073.79 an ounce. Earlier in the session, it hit a record $3,077.44. U.S. gold futures also gained 0.8% to $3,083.60. With rising geopolitical risks, potential interest rate cuts, and inflation worries, it continues to be a preferred hedge against uncertainty.

Economic and Market Uncertainty Drives Gold Surge

Gold has been on a strong upward trend, gaining 1.7% this week. Market analysts attribute the surge to several factors, including trade tensions, fiscal policy shifts, and slowing economic growth. It has also been noted that gold is benefiting from multiple global concerns, with $3,100 per ounce seen as the next milestone.

Donald Trump’s tariff plans have amplified fears of a deepening trade war. Canadian Prime Minister Mark Carney warned of retaliatory trade measures if new auto tariffs are imposed. These uncertainties have led to stock market volatility, further driving investors towards gold as a stable asset. The next round of reciprocal tariffs set to take effect on April 2 could stoke inflation, slow economic growth, and exacerbate trade disputes. According to BMI analysts, gold prices will likely remain bullish due to ongoing policy uncertainty, military conflicts, and macroeconomic risks.

Federal Reserve Policy and Precious Metals Outlook

Richmond Federal Reserve President Tom Barkin stated that the current “moderately restrictive” monetary policy remains appropriate given the high levels of economic uncertainty. The Fed’s recent decision to hold its benchmark rate steady has also influenced its prices. Markets are now awaiting the U.S. Personal Consumption Expenditures data, which could shape expectations for future rate cuts.

While gold dominated the headlines, other precious metals saw mixed movements. Spot silver fell 0.3% to $34.31 an ounce. Platinum edged up 0.3% to $988.45, while palladium rose 0.1% to $976.50. These metals remain sensitive to economic trends and industrial demand.

Gold’s record surge highlights the increasing economic and geopolitical uncertainty worldwide. With trade tensions escalating, inflation fears mounting, and central banks continuing to buy gold, the precious metal remains a key asset for investors seeking stability. As the global landscape remains uncertain, all eyes will be on future trade policies, central bank decisions, and economic indicators shaping the next move in gold prices.

Who is Ranya Rao? Actress Caught Smuggling 14.8 kg Gold at Bengaluru Airport

March 5, 2025, 1:20 pm

Kannada actress Ranya Rao was arrested at Kempegowda International Airport in Bengaluru on charges of smuggling 14.8 kg of gold. The 31-year-old was detained by the Directorate of Revenue Intelligence (DRI) when she arrived from Dubai. She had been monitored because she made frequent visits abroad.

Ranya Rao, born in Chikmagalur, Karnataka, pursued engineering at Dayananda Sagar College of Engineering in Bengaluru before going on to the film industry. She first appeared on screen in 2014 playing the character Manasa, the rich love interest, in the Kannada movie Maanikya. She furthered her career in Tamil films in 2016 in Wagah and then came back to Kannada with Pataki in 2017.

When she returned to Bengaluru on an Emirates flight, officials suspected her after observing that she kept going to Dubai frequently. Inquiries showed that Rao had apparently smuggled the gold by covering a major portion of it on her body and hiding gold bars in her garments. Officials suspected her because of her four journeys to Dubai in 15 days, leading to a targeted operation. She also allegedly tried using her influence, posing as Karnataka’s Director General of Police’s daughter, and sought assistance from local policemen to leave smoothly.

Rao was subsequently produced in front of an economic offences court after having been arrested and remanded into 14 days of judicial custody. Officials are now investigating if she had been operating on her own or as part of a larger smuggling syndicate, with suspicion centered around any law enforcement official involvement, including her supposed relative within the IPS.

Lemon Sold For Gold? Discover How A Temple Auction Turned A Lemon Into A Rs 13,000 Treasure!

March 1, 2025, 7:02 am

In a striking display of devotion and generosity, a lemon was auctioned off for an impressive ₹13,000 at the Pazhamathinny Karuppa Eswaran Temple in Vilakethi during the annual Maha Shivaratri festivities. The event, marked by spirited bidding, showcased the community’s deep-rooted faith and commitment to sacred traditions.

Auction Highlights

During the public auction, devotees eagerly bid on various sacred items, including a lemon, a silver ring, and a silver coin presented before the deity. The lemon, integral to certain religious rituals, drew considerable attention. Ultimately, Thangaraj emerged as the winning bidder, securing the lemon for ₹13,000. In another notable bid, Chidambaram of Arachalur acquired the silver ring for ₹43,100.

A Tradition of High-Stakes Bidding

The practice of auctioning temple offerings is a longstanding tradition in Tamil Nadu, believed to bring prosperity to families that possess these sacred items. This custom has seen some astonishing figures in the past; for example, at a temple in Villupuram last year, over nine lemons were auctioned for a collective sum exceeding ₹2.36 lakh, with one individual lemon fetching as much as ₹50,500.

Cultural and Economic Significance

Temple auctions like this not only reflect the profound faith of the local community but also highlight the cultural and economic importance of these events. The funds generated often support local causes and contribute to the upkeep of the temple, strengthening the bond between the community and its religious institutions.

This year’s auction at the Pazhamathinny Karuppa Eswaran Temple serves as a powerful reminder of how cultural traditions and religious fervor continue to influence everyday life in Tamil Nadu, transforming simple offerings into symbols of prosperity and communal unity.

Banks Move Gold from London to New York: Here’s Why

February 18, 2025, 3:42 pm

Banks are rapidly moving gold from vaults in London to New York, prompted by concerns that US President Donald Trump’s potential trade war could disrupt the global economy. As a significant price disparity develops between gold in New York and London, several banks have acted swiftly.

Reports indicate that US gold inventories have doubled since Trump’s victory in the 2016 elections. The Republican president’s threats of tariffs on European imports have created turbulence in the gold market, resulting in the largest trans-Atlantic movement of physical gold bars in years.

Let’s explore this further.

US banks pull out gold from London

Concerns over President Trump imposing tariffs on Europe have led to a surge in gold prices in New York, while prices in London have dropped since late last year.

After the US President levied 25% import taxes on steel and aluminum, traders are increasingly worried that gold could be his next target. As a result, gold is being flown from London to New York, where it is currently valued higher.

Major banks such as JPMorgan from the US and HSBC Holdings from the UK are among those moving gold from London’s vaults to Manhattan, according to The Wall Street Journal (WSJ).

According to The Independent, a vast network of tunnels beneath London’s Threadneedle Street houses the world’s second-largest gold depository. Following Trump’s tariff threats, US banks are rushing to transport gold stored in the Bank of England’s heavily guarded vaults.

While the gold markets in the UK and the US are typically in sync, when there is a significant price difference, traders can move gold to where it fetches a higher value.

As reported by WSJ, gold futures in New York have risen by 11% this year, reaching $2,909 (around Rs 2.5 lakh) per troy ounce last week. Some analysts predict that the price could hit a record high of $3,000 (around Rs 2.6 lakh) per troy ounce.

Since early December, gold prices in London have been about $20 (Rs 1,739) lower per troy ounce.

Bank of England Deputy Governor Dave Ramsden told The Telegraph that the bank has been flooded with requests to move bullion out of its vaults after New York’s futures prices exceeded London’s cash prices.

The transfer to US Banks

Shifting physical gold from London to New York is no simple task. US banks are utilizing the cargo holds of commercial planes to transport the precious metal safely across the Atlantic.

The process, which is cost-effective, involves security firms transporting gold bars in high-strength vans to the airport in London, as reported by The Wall Street Journal (WSJ).

Before reaching New York, the gold bars are sent to Swiss refineries for recasting, as New York’s Comex contracts require bars of a different size. These newly recast bars are then flown to the US on commercial flights.

However, the Bank of England is struggling to meet the increasing demand for gold. Deputy Governor Ramsden explained earlier this month, “There are real logistical constraints and security constraints. Getting into the bank for me this morning was a bit trickier because there was a lorry in the bullion yard…It takes time and the stuff is also quite heavy.”

Reason for moving Gold

Gold is regarded as a safe haven during times of uncertainty, and US banks are reportedly moving the precious metal from London to New York to cover losses on short futures positions.

Banks like JPMorgan and HSBC hold large amounts of gold in London, which they lend out to borrowers for a return. To protect themselves from price drops, they sell gold futures in New York.

As The Wall Street Journal (WSJ) noted, this trade appears almost risk-free when gold prices in London and New York are similar. However, after Trump’s election, when gold prices in New York’s Comex exceeded those in London, banks that had sold futures contracts in New York began incurring losses.

To turn these losses into profits, these banks have opted to move physical gold bars from London to New York, rather than buying back the futures contracts at a loss.

By taking advantage of the price disparity between the two cities, banks are transferring significant amounts of gold.

The Independent reports that nearly 8,000 gold bars, or about two percent of the Bank of England’s total reserves, have been removed over the past few months.

Comex filings show that JPMorganChase alone is expected to deliver $4 billion (approximately Rs 34,000 crore) of gold this month.

Gold Ownership: Indian Women Hold 24,000 Tons, Representing 11% of the World’s Gold

December 29, 2024, 5:41 pm

A recent report from the World Gold Council reveals that Indian women collectively own approximately 24,000 tons of gold, accounting for about 11% of the world’s total gold reserves in jewelry form. This remarkable figure underscores the deep-rooted cultural significance of gold in India, particularly among women, who have a longstanding connection to gold jewelry.

Gold plays a central role in Indian celebrations, especially weddings, where it is considered an essential part of the festivities. From intricate bridal jewelry to simple gold bars, the gifting of gold is a tradition that has been passed down through generations. This cultural affinity has led to substantial gold accumulation among Indian women, making India a global leader in household gold ownership.

Comparison with Global Gold Reserves

The volume of gold owned by Indian women is striking, surpassing the combined gold reserves of the top five countries. For context, the United States holds 8,000 tons, Germany 3,300 tons, Italy 2,450 tons, France 2,400 tons, and Russia 1,900 tons. Even when considering the combined reserves of these nations, they still fall short of the gold owned by women in India. According to the Oxford Gold Group, Indian households collectively hold 11% of the world’s gold, exceeding the reserves of the United States, the International Monetary Fund (IMF), Switzerland, and Germany.

Regional Insights and Economic Impact

Women in South India are particularly significant in terms of gold ownership, with the southern region holding 40% of India’s total gold. Tamil Nadu alone accounts for 28% of this gold. A study by the World Gold Council for 2020–21 indicated that Indian households owned between 21,000 and 23,000 tons of gold, a figure that has since increased to approximately 24,000 to 25,000 tons by 2023, representing over 25 million kilograms of gold. This substantial gold reserve plays a vital role in supporting India’s economy, covering 40% of the nation’s GDP.

In accordance with India’s Income Tax laws, married women are permitted to hold up to 500 grams of gold, while unmarried women can own up to 250 grams. In contrast, men are restricted to a maximum of 100 grams. This disparity reflects the significant cultural value placed on women’s ownership of gold, symbolizing wealth and serving as a safeguard for the future.

Is China The New Gold King? World’s Largest Deposit Worth Rs 7 Lakh Crore Discovered

November 29, 2024, 8:39 am

In a breakthrough, it has been confirmed that the enormous gold deposit discovered in Pingjiang County in the northeastern part of Hunan Province, China, has a volume of around 1,000 metric tonnes of high-quality gold ore.

The global mining community has reacted to this discovery with much excitement because it has the potential to be larger than the South Deep Gold Mine in South Africa, which previously held the record of the world‘s largest known gold reserves.

China’s Gold Discovery: A Game-Changer for the Industry

State media reported that the newly discovered gold reserve is valued at about 600 billion yuan, equivalent to about Rs 6,91,473 crore. This discovery will help China make a dramatic improvement in its mining industry and even establish it as a market leader in the global gold market.

The Geological Bureau of Hunan Province confirmed the discovery.Preliminary exploration revealed that there are 40 gold veins within a 2-kilometre depth. These veins alone hold an estimated 300 metric tonnes of gold. But advanced 3D modelling of the area reveals more substantial reserves at greater depths – up to 3 kilometers.

New Technologies Reveal Promising Prospects

Using cutting-edge ore-prospecting technologies, such as 3D geological modelling, the discovery is expected to revolutionize gold mining in China. Drilling results from the site have been promising, with many rock cores showing visible gold. According to Chen Rulin, an ore-prospecting expert at the Geological Bureau, one tonne of ore from the 2,000-metre range has yielded a maximum of 138 grams of gold, indicating the quality of the reserve.

Liu Yongjun, the vice head of the bureau, mentioned that exploration efforts have also yielded gold at peripheral areas surrounding the Wangu gold field, expanding the potential of the deposit even further.

A Major Shift in Gold Reserves

The discovery of this vast deposit in China is set to change the global landscape of gold reserves. Until now, the largest gold reserves have been located in several countries around the world, including South Africa, Indonesia, and Russia. The top ten gold reserves prior to this Chinese discovery include:

Olimpiada Gold Mine – Russia
Lihir Gold Mine – Papua New Guinea
Norte Abierto Gold Mine – Chile
Grasberg Gold Mine – Indonesia
Carlin Trend Gold Mine – USA
Boddington Gold Mine – Australia
Pueblo Viejo Gold Mine – Dominican Republic
South Deep Gold Mine – South Africa
Cortez Gold Mine – USA
Mponeng Gold Mine – South Africa

These mines have long been recognized for their immense reserves, but with China’s new discovery, these rankings could now be in jeopardy.

A Game-Changer for China’s Economic Landscape

Beyond the mining industry, this gold discovery could have far-reaching economic implications for China. The enormous value of the deposit could further strengthen the nation’s economic standing and possibly lead to increased investment in both mining infrastructure and technology. As the world watches closely, the full potential of this gold reserve is still unfolding, and it may soon become one of the most significant finds in modern history.

The Pingjiang County gold discovery in Central China stands as a monumental achievement in the mining sector. If confirmed to be the world’s largest gold reserve, it could significantly alter global market dynamics and solidify China’s position as a key player in the world’s gold industry. As exploration continues, the global mining community eagerly anticipates the full extent of what this unprecedented discovery could mean.

Gold Attracts Strong Investment Inflows Across Asia: China and India Lead the Surge

November 8, 2024, 2:14 pm

Global gold exchange-traded funds (ETFs) have recorded positive demand for the first time in 2024, with year-to-date inflows totaling 18 tonnes, as reported by the World Gold Council. Asia has been a major driver of this trend, leading to a substantial 33% rise in assets under management (AUM) and an impressive inflow of USD 4.7 billion this year.

Asia Driving Growth with Record October Inflows

Asian gold ETFs attracted USD 2.1 billion in October, marking the 20th consecutive month of inflows for the region. China has seen record-breaking investments in gold ETFs, fueled by rising local gold prices and stock market volatility. A wave of government stimulus measures in late September added momentum, resulting in October reaching the highest monthly inflows on record.

India has also experienced steady growth in gold ETF investments. Fluctuating stock markets and favorable adjustments to the long-term capital gains tax on gold have increased its appeal as a stable investment. Additionally, improved trading volumes in over-the-counter (OTC) markets and active ETF trading have boosted global demand for gold.

Global Demand for Safe-Haven Asset Rises Amid Market Uncertainty

With continued global equity market volatility, gold’s safe-haven appeal has led to robust inflows, elevating gold ETFs to their highest asset levels of the year. Geopolitical and economic uncertainties have reinforced gold’s standing as a reliable investment. North American gold ETFs reported inflows of USD 2.7 billion for the fourth consecutive month in October, despite rising bond yields and a stronger U.S. dollar, which typically curb gold interest. Concerns over uncertain interest rate trajectories and escalating geopolitical tensions have driven investors to gold.

Investors’ “fear of missing out” (FOMO) amid surging gold prices and rising geopolitical tensions has spurred demand for gold. Heightened safe-haven buying has been fueled by escalating conflicts in the Middle East and speculation about North Korea’s involvement with Russia in the Ukraine war. Meanwhile, the ongoing U.S. presidential election has added a layer of uncertainty, increasing gold’s appeal.

In contrast, European gold ETFs reported outflows of USD 563 million in October. This was a departure from previous months, as outflows spread across major markets rather than concentrating in the UK. Rising yields in European government bonds have raised the opportunity cost of holding gold, despite the European Central Bank’s recent 25-basis-point rate cut. The strengthening U.S. dollar and weakening local currencies in Europe have prompted investors to reduce FX-hedged gold holdings.

Outside of Asia, other regions reported positive inflows for the fifth consecutive month. Australian and South African funds added a combined USD 68 million in October. The weakening Aussie dollar enhanced gold returns for Australian investors, increasing interest in currency-hedged investments.

RBI’s Dhanteras Gift: Brings Home 102 Tonnes Of Gold From Bank Of England

October 30, 2024, 12:54 pm

The Reserve Bank of India (RBI) has recently moved 102 tonnes of gold from the Bank of England’s vaults to secure facilities in India, emphasizing the central bank’s preference for keeping valuable assets closer to home. Since September 2022, India has repatriated a total of 214 tonnes of gold, reflecting the RBI’s commitment to maintaining a significant portion of its wealth domestically.

With this latest transfer, the RBI’s reserves now total 855 tonnes, with 510.5 tonnes stored within India. This move aligns with rising geopolitical tensions and the government’s objective of improving security by managing its assets on home soil.

The decision to repatriate gold comes amid escalating international tensions and economic challenges. According to government officials, retaining these reserves within India enhances security.

Transporting the gold required meticulous secrecy and advanced security measures, utilizing specialized aircraft and strict protocols. This indicates the government’s dedication to safeguarding sensitive information and assets, particularly as the global situation becomes more intricate.

This is not the first large-scale gold repatriation for India. In May, the country brought back 100 tonnes from the Bank of England, marking one of the most significant gold relocations since the 1990s. Unlike that instance, where gold was pledged as collateral during a financial crisis, this transfer is part of a proactive strategy to protect the nation’s wealth rather than a response to an economic emergency.

Currently, 324 tonnes of India’s gold reserves remain held by the Bank of England and the Bank for International Settlements, both located in the UK. The Bank of England has historically been a reliable custodian for central banks worldwide, providing a secure “bullion warehouse” since 1697. London’s bullion market also offers liquidity advantages; however, sources indicate that India is unlikely to withdraw additional gold from the UK this year.

Gold now comprises 9.3% of India’s total foreign reserves, an increase from 8.1% in March. This rise has been fueled by a rally in global gold prices, currently around Rs 78,745 per 10 grams in Mumbai. Analysts predict that prices could climb to Rs 85,000 per 10 grams over the next year, driven by growing investor interest in gold during times of economic uncertainty and conflict, especially in regions like the Middle East.

Delhi Man’s Dhanteras Shock: ‘I Literally Cried’ After Blinkit Delivers Half The Gold Ordered

October 29, 2024, 5:27 pm

A Delhi resident recently shared his disappointing experience on social media after ordering gold from Blinkit during the Dhanteras festival, only to receive less gold than expected. Mohit Jain, who intended to purchase a 1-gram Mata Lakshmi gold coin and a 1-gram silver coin, both prepaid, was surprised to find a discrepancy upon delivery.

As Jain was not home to receive the items, he entrusted his younger brother with the OTP required for verification. When he returned 20 minutes later, he found that the delivered item was a 0.5-gram Malabar gold coin with a rose design, instead of the 1-gram Mata Lakshmi gold coin he had ordered.

Attempting to return the incorrect item, Jain was further disappointed to find the return window had already closed. “I can’t contact any support executive,” he explained, describing his frustration with Blinkit’s customer service.

In his efforts to seek assistance, he called the delivery agent and shared, “I literally cried while talking to him,” adding that the agent even had photos of the coin before delivery but still could not help. “He said there was nothing he could do even after knowing he delivered the wrong item.”

Feeling disheartened, Jain noted it would be his “first and last time” ordering an expensive item from Blinkit, as he found himself only able to interact with AI bots, with no real customer support. Jain also mentioned he has CCTV footage as proof of the wrong item being delivered, underscoring his disappointment with Blinkit’s lack of accountability.

Gold Prices For Dhanteras 2024: Prices Hit Rs 78,804, Marking A 0.3% Rise

October 29, 2024, 1:36 pm

As Dhanteras 2024 unfolds, gold prices have seen a notable uptick, rising by 0.3% or ₹238 to reach ₹78,804 per 10 grams for 24K gold futures dated December 5. This increase comes in the wake of Dhanteras, a significant occasion in Hindu culture when the purchasing of precious metals is traditionally encouraged.

What Is Dhanteras

Dhanteras marks the first day of the Diwali festival, a time when devotees worship Dhanvantari, the divine physician of the Devas and an avatar of Vishnu. According to Hindu texts, Dhanvantari emerged during the Samudra Manthana, holding the elixir of life (Amrita) in one hand and a sacred Ayurvedic scripture in the other. This auspicious day is deemed an ideal time for investing in gold and silver.

Gold Price Trends

This year has seen a remarkable 30% increase in gold prices compared to Dhanteras 2023. Just a day prior, on October 28, 2024, gold prices experienced a slight dip of 0.04%, falling to ₹78,536. This minor decrease was attributed to a strengthening US dollar, influenced by recent macroeconomic indicators, including inflation and GDP reports, which are critical for predicting potential rate cuts by the US Federal Reserve.

In contrast to the gold market, domestic equities have underperformed; the benchmark BSE Sensex has only risen by 10.79% this year, showcasing gold’s significant rally since last year’s Dhanteras.

As the festive season progresses, the increased demand for gold during Dhanteras highlights its enduring value as a symbol of prosperity and wealth.

Silver Crosses ₹1 Lakh Mark Amid Rising Demand, Gold Hits Record ₹81,000

October 22, 2024, 9:44 pm

The prices of gold and silver have surged to new heights, with silver crossing ₹1 lakh per kilogram and gold reaching ₹81,000 per 10 grams in the national capital. The rising demand for precious metals is being driven by global uncertainties, with investors flocking to safe-haven assets like bullion.

Silver Surges by ₹1,500, Crosses ₹1 Lakh Mark

On Tuesday, silver extended its gains for the fifth consecutive day, surging by ₹1,500 and crossing the ₹1 lakh mark. Silver’s new high of ₹1.01 lakh per kilogram comes after it closed at ₹99,500 per kilogram on Monday. The demand for silver continues to grow as traditional assets underperform, fueling the metal’s rapid price escalation.

Gold Reaches All-Time High of ₹81,000 per 10 Grams

Gold prices also rose by ₹350, hitting a new all-time high of ₹81,000 per 10 grams. On the MCX (Multi Commodity Exchange), gold gained ₹300, climbing to ₹78,300 per 10 grams. The bullish momentum continues, driven by investors’ desire to safeguard their wealth against economic and geopolitical risks.

Investor Demand for Bullion Grows Amid Global Uncertainty

According to Jateen Trivedi, VP Research Analyst – Commodity and Currency at LKP Securities, the surge in gold prices is primarily due to investors’ growing interest in safe-haven assets like bullion. Global economic uncertainties, geopolitical tensions, and concerns over traditional risk assets are driving demand for precious metals.

Trivedi added that the next resistance levels for gold are expected at ₹78,750- ₹79,000, while support is anticipated in the ₹77,800- ₹78,000 range. Factors such as interest rate developments, global conflicts, and macroeconomic data will play a critical role in shaping the future trajectory of gold prices.

Outlook: Continued Bullish Momentum

With demand for bullion remaining strong, the outlook for gold and silver prices remains bullish in the near term. Market participants will be closely monitoring global events, as these will continue to impact investor sentiment and the direction of precious metal prices.

Kerala: 12 Gang Members Kidnaps 2 And Steals Rs. 1.8 Crore In Gold On Highway

September 27, 2024, 4:22 pm

In a shocking incident on Thursday, a 12-member gang executed a brazen highway robbery near Peechi in Kerala, where they kidnapped two individuals and made off with over 2.5 kilograms of gold ornaments valued at ₹1.84 crore. The incident was captured on a dashcam and has since gone viral on social media, raising concerns about safety on the state’s highways.

The Kidnapping and Robbery

According to police officials, the robbery took place when the gang, traveling in multiple SUVs, cornered a car on a national highway. As the vehicle approached a section of the flyover under construction, the gang swiftly boxed it in, forcibly removing two men identified as Arun Sunny and Rojy Thomas from the car. The FIR, filed on September 22, details that the victims were initially assaulted before the gang stole their jewellery. After the robbery, the two men were later released unharmed.

Ongoing Investigation and Security Concerns

Authorities are treating this incident with urgency, as a Special Investigation Team (SIT) has been established to probe the case further. In a separate but related case, police reported another robbery in Thrissur, where a five-member gang used a gas cutter to steal ₹65 lakh in cash from three ATMs. To evade detection, the criminals painted over CCTV cameras, but surveillance footage from a nearby hotel captured images of the masked suspects fleeing the scene.

As the investigations unfold, police are urging the public to remain vigilant and report any suspicious activity, highlighting the need for enhanced security measures on highways and in public spaces across the region.

Gold Prices Soar to Record High: Yellow Metal Rates Across Major Indian Cities

September 25, 2024, 2:08 pm

Gold futures for October at the MCX have surged to an unprecedented high of Rs 76,000 per 10 kilograms, reflecting an increase of 0.24 percent or Rs 177. This comes after the prices reached Rs 75,049 on Tuesday. Since the US Federal Reserve cut interest rates by 50 basis points last week, gold prices have been on a steady rise, increasing by Rs 2,900 per 10 kilograms.

Current Gold Rates

The price of the highest purity gold, known as 24-karat, is currently set at Rs 77,020 per 10 grams. For those looking to purchase jewelry, 22-karat gold, which is slightly more durable due to its alloy composition, is priced at Rs 70,600 per 10 grams.

Expert Insights

“Gold’s bull run continues as prices hit yet another all-time high at 76000 per 10gm on futures and move close to $2700 per ounce overseas. Prices remain supported by a weaker dollar, expectation of more rate cuts from global central banks, safe haven demand, and inflow of ETF funds,” said Pranav Mer, Vice President of EBG – Commodity & Currency Research at JM Financial Services Ltd.

Gold Prices In Major Indian Cities

Take a look at the gold rates in various cities across India as of September 25:

Gold Prices In Major Indian Cities

Paris Paralympics: India Continues Podium Success with Dharambir Winning Gold and Pranav Claiming Silver

September 5, 2024, 5:26 am

India’s impressive streak of double podium finishes continued at the Paris Paralympics, with para-athletes Dharambir and Pranav Soorma securing gold and silver medals, respectively, in the men’s club throw F51 final. This latest success has propelled India’s total medal count to 24, comprising five gold, nine silver, and ten bronze medals. The Indian team is now just one medal shy of reaching the 25-medal target set by Paralympic Committee of India (PCI) President Devendra Jhajharia.

Dharambir’s exceptional performance included a record-breaking throw of 34.92 meters, setting a new Asian record and earning him the gold medal. His result matched India’s gold tally from the Tokyo Paralympics three years ago. Pranav Soorma, who threw 34.59 meters, narrowly missed out on gold but secured silver. The podium result was a reversal of last year’s Para Asian Games, where Pranav had won gold and Dharambir had taken silver.

Amit Kumar Saroha, the third Indian competitor in the event, did not manage to reach the podium, with his best throw being 23.96 meters. Dharambir’s path to victory was particularly dramatic, as he initially struggled but broke the Asian record with his fifth throw. He also made a significant second attempt of 31.59 meters.

In addition to this success, Serbia’s Zeljko Dimitrijevic, a strong competitor with a history of winning medals, claimed the bronze with a throw of 34.18 meters.

On Tuesday, India enjoyed more podium finishes with Ajeet Singh and Sundar Singh Gurjar winning silver and bronze in the men’s javelin throw F46, and Mariyappan Thangavelu and Sharad Kumar taking bronze and silver in the men’s high jump T6 final.

Earlier in the week, para-archer Harvinder Singh made history by securing India’s first-ever gold medal in para-archery at the Paralympics. Additionally, para-shooter Avani Lekhra earned the nation’s first gold at the Paris Games with a stellar performance in the women’s 10m air rifle final, while para-shuttler Nitesh Kumar won gold in the men’s singles SL3 category. Javelin thrower Sumit Antil also contributed to India’s gold tally with a record-breaking throw of 70.59 meters in the javelin throw F64 class final.

Paris 2024 Paralympics: Kareena Kapoor, Ayushmann Khurrana, and others praise Avani Lekhara for winning GOLD in rifle shooting

August 31, 2024, 4:53 am

Indian para-athletes have made the nation proud at the Paris Paralympic Games 2024, with a historic achievement on Friday. India secured four medals in total—one gold, one silver, and two bronze. Avani Lekhara won the gold medal in the Women’s 10m Air Rifle Standing SH1 final, marking a significant milestone. Bollywood celebrities, including Kareena Kapoor Khan, Ayushmann Khurrana, and others, took to social media to celebrate Avani’s remarkable victory.

In addition to Avani’s gold, debutant Mona Agarwal earned a bronze medal in the same air rifle category. Manish Narwal achieved silver in the men’s air rifle event, while Preethi Pal won bronze in the Women’s T25-100m event. Notably, Preethi is the first Indian para-athlete to achieve this feat.

On August 30, Kareena Kapoor Khan shared her congratulations on Instagram, posting a collage of the four medalists—Avani, Mona, Manish, and Preethi. Her Instagram story read, “Huge congratulations” with red heart and tricolor emojis, tagging the athletes in her post.

Ayushmann Khurrana also celebrated the achievements, sharing pictures of the winners and expressing his pride. His Instagram story noted, “What an amazing day for India at the Paralympics. Feeling super proud,” alongside congratulatory messages for the athletes.

Sonali Bendre, known for her roles in films like Hum Saath-Saath Hain and Sarfarosh, joined in the celebration. She posted a collage of Avani and Mona with their medals on Instagram, congratulating them and stating, “Medals are home again,” accompanied by red heart and tricolor emojis.

Producer Jackky Bhagnani and actress Rakul Preet Singh also conveyed their congratulations. Jackky called the achievements “phenomenal,” praising Avani and Mona for their extraordinary success and inspiring performances. Rakul Preet shared a collage of the air rifle champions, highlighting Avani’s double gold and Mona’s bronze. She described the moment as “inspiring” and applauded their hard work and dedication.

Sonu Sood took to X to share his pride in Avani and Mona, posting a picture of the two athletes showing their victory signs and tweeting, “Proud of you both.”

Proud of you both ??
#Paralympics2024 pic.twitter.com/bPX6pkRKbx

— sonu sood (@SonuSood) August 30, 2024

Avani Lekhara’s latest triumph makes her the first Indian woman to win two gold medals at the Paralympic Games. In the final, she scored 249.7, setting a new Paralympic record and surpassing her previous record of 249.6 from the Tokyo 2020 Games.

Congratulations to all the medalists at the Paris Paralympic Games 2024 for their outstanding performances and historic achievements.

Neeraj Chopra Triumphs With Gold in Men’s Javelin At Paavo Nurmi Games

June 19, 2024, 1:27 am

Returning to competition after a month-long break due to an injury, reigning Olympic javelin throw champion Neeraj Chopra secured the gold medal at the 2024 Paavo Nurmi Games in Turku, Finland on Tuesday. Neeraj achieved his best throw of 85.97m in his third attempt and led for a significant portion of the event.

Among the competitors was 19-year-old German Max Dehning, who became the youngest to surpass the 90m mark earlier in February. Neeraj improved on his performance from 2022, where he had won a silver medal.

Local favorite Toni Keranen claimed the silver medal with a top throw of 84.19m, while Oliver Helander, the gold medalist from the previous edition, secured third place with 83.96m.

The 26-year-old Chopra returned to competition following a second-place finish in the Doha Diamond League and a gold at the Federation Cup in Bhubaneswar last month.

After these two events, Chopra took a break due to feeling “something” in his adductor muscles.

Gold prices pull back modestly after record surge

May 27, 2024, 3:17 am

Gold prices have eased from their peak of mid-April, likely due to profit taking. Nevertheless high gold prices prevailed, ending April up 4% on the back of an 8% rise in March. Since mid-April1 gold prices have moderated 1% and have risen by 15% so far this year, trading at over US$2,350/oz at the time of writing.2 Domestic landed gold prices in India3 have followed the movement of international gold prices owing to the relative stability of the INR vs the US dollar.

Festival alongside price moderation stimulates demand

After a generally weak March and April, there was a resurgence in gold demand ahead of and around the Akshaya Tritiya festival on 10 May. Considered one of the two most important days for buying gold traditionally, anecdotal evidence suggests that demand exceeded expectations, with strong activity observed in both urban and rural areas; some industry participants even hinting at record buying in value terms.

Anecdotal accounts from jewellers and various industry stakeholders suggest that there was significant pre- booking of gold jewellery, bars and coins well before the festival, as consumers took advantage of the moderation in price from its April peak. Additionally, there was notable demand for wedding jewellery – typically heavier pieces – despite the busy wedding season being some months away. Consumers were apparently bringing forward their wedding purchases in anticipation of further price rises in the near future. Demand for bars and coins, particularly among younger age groups, was reportedly robust, reflecting favourable consumer attitudes toward gold as an asset.

Anecdotal reports from jewellers suggest that the value of sales during the festival was appreciably higher compared to the previous year, with healthy volumes. This growth occurred despite the festival lasting longer last year in some regions4 and gold prices being 20% higher, suggesting that consumers likely accepted gold’s higher price and may have a positive view of its trend.

However, the likelihood of the continuation of such demand is low with consumers making purchases around festivals. Overall buying activity is expected to be restrained.

Rising consumer interest was reflected in the reduced discounts on domestic gold prices in relation to international prices. India’s gold price discounts averaged US$3/oz in the first fortnight of May, down from US$10/oz in April.

RBI enhances its gold stockpile

The RBI is consistently bolstering its gold reserves. According to RBI data and our own estimates, its gold holdings reached a new peak of 828.6 tonnes at the beginning of May.6 After adding 5.6t in April,7 RBI has now made a net acquisition of gold bullion equivalent to 25t since the start of the year. On average, the RBI has been purchasing around 6t of gold per month this year. The central bank’s net gold acquisitions in 2024 have already exceeded those of 2023 (16.2t). As of early May, gold comprises 8.5% of total reserves, up from 7.7% at the close of 2023.

The RBI is among major emerging market central banks that have been driving gold purchases in 2024. Having surpassed the whole year purchase of 2023 in the first three months of 2024 itself, the central bank seems to be on track for net gold acquisition reminiscent of levels seen in 2021 (a total of 77.5 tonnes with average monthly buying of 6.5t).

Resurgence in gold imports

Following a significant decline in March, gold imports witnessed a resurgence in April, reaching a value of US$3.1bn, more than twice the amount of the previous month. Import figures for April also marked a three-fold increase from the corresponding period last year.

This is despite record high prices during the month and can be attributed to the stocking up in readiness for Akshaya Tritiya. In volume terms, as per our estimates, gold imports in April likely hovered around 50t, higher than the 34t of gold imports in March and 17t in April23.

(Source: World Gold Council)

Mumbai Airport Customs Seize ₹6.46 Crore in Diamonds and Gold

April 23, 2024, 4:44 pm

Customs officials at Mumbai airport discovered diamonds concealed in noodle packets and gold hidden on passengers and in their bags, with a total value of Rs. 6.46 crore, according to PTI citing an official.

Last weekend, customs officials arrested eight passengers found with over 6.815 kg of gold worth Rs. 4.44 crore and diamonds valued at Rs. 2.02 crore, as per a statement released late on April 22.

One Indian traveler heading from Mumbai to Bangkok was apprehended with diamonds hidden in noodle packets inside his suitcase and subsequently arrested.

Another foreign traveler flying from Colombo to Mumbai was caught with gold bars and a small piece totaling 321 grams, concealed in her underwear.

Additionally, ten Indian nationals arriving from Dubai, Abu Dhabi, Bahrain, Doha, Riyadh, Muscat, Bangkok, and Singapore were apprehended with over 6 kilograms of gold, valued at about Rs. 4.04 crore, concealed in their rectums, on their bodies, and in their luggage. Three of them were arrested. Further details were not provided.

“Mumbai Customs Zone-III seized over 9.482 Kg Gold valued @ Rs. 5.71 Cr across 14 cases. Gold was found concealed in rectum, on body, in handbag and cavities in undergarments of pax. Eight Pax were arrested,” Mumbai Customs stated on X (formerly Twitter).

The seized gold items included gold chains, bracelets, rings, kadas, and discs concealed in clothes and luggage; gold chains and plates hidden in mobile phones and clothing; gold dust in wax hidden in rectums; and melted gold bars hidden in undergarments, as per ANI.

Furthermore, on April 19, officers of APSC Commissionerate, Mumbai Customs Zone III, intercepted and seized 2.314 kg of colored pills resembling MDMA valued at Rs. 4.62 crores, concealed in two cloth organizers. A controlled delivery operation resulted in the arrest of an Indian and a Foreign National.

PM Modi Accuses Congress of Plotting Wealth Redistribution, Defends Women’s Right to Gold and Property

April 22, 2024, 12:11 am

Prime Minister Narendra Modi strongly criticized the Congress party, accusing them of planning to seize people’s gold and property and redistribute it among those with more children. He emphasized the significance of the ‘Mangalsutra’ for women and condemned any attempt to take it away.

Modi highlighted concerns about the Congress manifesto, alleging it promotes intrusive surveys into individuals’ property. He referenced recent comments by Rahul Gandhi regarding wealth distribution, which sparked controversy.

Despite Congress’s clarification that they didn’t propose wealth redistribution, Modi reiterated his claims, suggesting the party aims to distribute assets to illegal immigrants.

He underscored the sentimental value of gold and Mangalsutra for women, arguing against their potential redistribution. Modi further criticized the Congress for its alleged favoritism towards certain demographics and emphasized the need for a strong government capable of addressing various societal needs.

He highlighted BJP’s track record in governance as evidence of their ability to fulfill these demands. Additionally, Modi mentioned the upcoming Lok Sabha elections in Rajasthan, where the BJP seeks to maintain its dominance.

Tamil Nadu: AIU Trichy seizes gold worth Rs 23.84 lakhs

September 30, 2023, 12:48 pm

According to a press release issued on Friday, the Air Intelligence Unit (AIU) in Trichy successfully intercepted and confiscated gold valued at Rs. 23.84 lakhs in three distinct cases.

The Deputy Commissioner of Trichy Customs explained, “In the initial case, a passenger from Kuala Lumpur had concealed a piece of gold in their pants pocket. In the subsequent two cases, gold had been hidden as buttons on a pair of jeans and sprayed onto a transparent sheet covering a carton box, both belonging to passengers arriving from Kuala Lumpur. In total, 401 grams of gold with a total worth of Rs. 23.84 lakhs were discovered and confiscated.”

On a previous occasion, on September 23, the customs air intelligence unit at Trichy airport thwarted an attempt to smuggle approximately 348.00 grams of gold in the form of a concealed paste within a pair of jeans. This gold, valued at Rs. 20,84,868, was seized from a passenger who had arrived from Singapore on an Air India flight, as confirmed by officials.

In a separate incident, another passenger arriving from Singapore on an Air India flight was apprehended, and customs officials seized 349.00 grams of gold worth Rs. 20,90,859.

Kerala: Customs department seizes gold worth 57 lakhs

June 13, 2023, 3:51 pm

The customs department at Kochi airport made a seizure on Tuesday, confiscating 1069.57 grams of gold valued at Rs. 57 lakhs from a passenger who arrived from Bahrain via Calicut.

The individual, named Asraf and hailing from Kozhikode, concealed four compact capsules of gold within his body.

The gold has been taken into custody, and an ongoing investigation is underway. More information will be provided as it becomes available.

2 arrested with gold values over Rs 1 crore at Hyderabad airport

June 6, 2023, 5:02 pm

The Air Intelligence Unit (AIU) of the Customs Department seized 1705.3 grammes of gold worth over Rs. 1 crore from 2 passengers arriving from Dubai at the Rajiv Gandhi International Airport in Hyderabad.

On Monday, as per the Customs Department, based on specific information, two passengers who arrived from Dubai on Indigo flight 6E-1484 at 10 p.m. were intercepted by the officers of the Customs Air Intelligence unit after having suspicions about them.

On searching both passengers, it was found that they had concealed 6 capsules containing gold paste wrapped with black tape in their rectum. Customs have seized gold weighing a total of 1705.3 grammes worth Rs 1.05 crore from the two passengers, according to the official statement. Both passengers were then arrested under the Indian Customs Act 1962, and further investigation was underway.

Four arrested for posing as IT officials, stealing gold biscuits worth Rs 60 lakh

May 31, 2023, 2:32 pm

Four people in Hyderabad were arrested for allegedly posing as Income Tax officials and stealing gold biscuits worth Rs 60 lakh from a shop in the city, Telangana police said on Tuesday.

The accused were identified as Rehman Ghafoor Athar, Zakir Gani Athar, Praveen Yadav and Akash Arun Hovil, Hyderabad’s Commissioner of Police, CV Anand, said.
The Commissioner on 27 May said that eight to 10 people had been posing as Income Tax officials, stealing 17 gold biscuits worth Rs 60 lakh from a shop in Hyderabad’s Monda Market.

The police announced that they had recovered seven gold biscuits from the possession of the accused; efforts to arrest their co-conspirators as soon as possible are underway.

“On May 27, eight to 10 people posing as Income Tax officials stole 17 gold biscuits, worth Rs 60 lakh, from a shop named Siddhivinayak in Monda Market. The four accused persons have been arrested. Seven gold biscuits have been recovered from them. Other accused are at large but will be arrested soon,” the Commissioner added.

Gold worth over Rs 65 lakh seized at Hyderabad airport

March 28, 2023, 6:17 pm

As per recent reports, the Customs department seized smuggled gold weighing over 4 kg at Hyderabad airport in two separate incidents. In one of the incidents, gold worth Rs 65 lakh was seized from two passengers who had come from Dubai at Hyderabad’s Rajiv Gandhi International Airport on Tuesday, said an official. During search three capsules of gold in paste form weighing 840 gm (approximately Rs 51.24 lakh value) was found concealed in rectum, a release from Customs said. The Air Intelligence Unit (AIU) sleuths of the customs department were able to gather some information about the gold smuggling, leading to the successful seizure of the smuggled gold.

Another passenger, who came in another flight from Dubai was intercepted by Customs officers and on searching his baggage two gold bars weighing 233 grammes (approximate value Rs 14.23 lakh) was found concealed between Tuna Fish oil tins kept in the check-in bags, said the press release.

The Customs department is continuously working to combat such illegal activities and prevent the smuggling of contraband goods into the country.

Kochi airport: Customs seize gold worth 49 lakh

March 1, 2023, 4:27 pm

The AIU of the Customs department has seized around 1065.30 grams of gold worth Rs. 49 lakh at Kochi airport. As per the profiling done by officers of the Customs AIU batch, a passenger who was coming from Kuwait to Kochi Airport by flight KU 357 was intercepted at the green channel.

During the examination of the aforesaid passenger, a total of 4 capsules of gold in compound form weighing 1065.30 grams concealed inside his body were recovered ans seized. The accused has been identified as Muhammad Abdul, who is a native of Perinthalmanna in the Malappuram district. The matter is under investigation. Further details are awaited.