World Gold Council: Smuggling worth over $120B annually
India recorded 3,005 gold smuggling cases during the financial year 2024-2025, with approximately 2.6 tons of the precious metal seized. Experts indicated that rising gold prices have contributed to an increase in smuggling activities, which are valued at over $120 billion annually and are used to fund conflicts and organized crime. Governments are working to strengthen oversight and legislation to combat the phenomenon, with initiatives underway for American and British bills aimed at curbing smuggling.
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