Mumbai: July 2015 saw a mere 24 kg gold being smuggled in, the lowest in two years, thanks to the Dubai markets being closed for a five-day period after Ramzan, international prices crashing, and better surveillance at the airport following the involvement of senior airline and airport staff in the crimes being revealed.
Mumbai airport had witnessed the attempted smuggling of 150 kg of gold in between January and June. "With international prices crashing, the margins have disappeared, making it less attractive," said A P S Suri, commissioner of customs at Mumbai airport, to explain the change. Of late, gold prices have fallen from Rs 28,000 per kg to Rs 23,500 per kg.
Customs officials had other reasons to cite as well. "July saw a lull because of Ramzan, which led to the closure of markets in Dubai. It will start picking up again from mid-August when the south Indian wedding season kicks off," an official said.
05/08/15 Aditya Anand/Mumbai Mirror
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Mumbai airport had witnessed the attempted smuggling of 150 kg of gold in between January and June. "With international prices crashing, the margins have disappeared, making it less attractive," said A P S Suri, commissioner of customs at Mumbai airport, to explain the change. Of late, gold prices have fallen from Rs 28,000 per kg to Rs 23,500 per kg.
Customs officials had other reasons to cite as well. "July saw a lull because of Ramzan, which led to the closure of markets in Dubai. It will start picking up again from mid-August when the south Indian wedding season kicks off," an official said.
05/08/15 Aditya Anand/Mumbai Mirror
