Smuggled Gold Seized in Nepal in First Six Months of 2013

In the first six months of 2013, police in Nepal seized 69 kilograms of gold. Most of the gold was smuggled into the country from Tibet, with the final destination of India.

In all of 2012, police seized 18 kilograms of gold in Nepal. Security agencies believe that only 10 percent of the gold smuggled into Nepal is confiscated.

The rise in gold smuggling is due to the high demand for gold in India and China, as well as an increase in duties for gold bullion.

Source:  AFP, “Nepal’s smugglers cash in on India’s love of gold,” Bangkok Post, September 4, 2013.