Gold price breaches ₹1 lakh mark; Customs dept at Ahmedabad airport on alert
Updated: Apr 22nd, 2025
As the equity markets struggle with Trump tariffs and global uncertainties, gold has seen a consistent upward trajectory in the last few days. In Ahmedabad, the price of 10 gm 24 carat gold on Tuesday stood at ₹1,01,400 with GST.
In international markets, the price of gold was $3,478 per ounce at 11 am on Tuesday.
Why gold prices are rising?
The consistent rise in gold prices over the last few days is attributed to rising tensions of trade war between US and China, the two major players refusing to back out of tariffs imposed on imported goods by each other.
On Monday, China even warned the other countries getting into a trade deal with the US of repercussions if the deal came at an expense of business to Beijing.
Customs department on alert at SVPI
The Customs department at the Sardar Vallabhbhai Patel International (SVPI) Airport in Ahmedabad was put on alert with the rising prices, as that can prompt increased smuggling activities. Ahmedabad airport has reported several cases of gold smuggling, brought mostly from the gulf cities like Dubai, Abu Dhabi, Muscat, and Sharjah. This has alerted airport authorities to keep a close eye on passengers arriving from these Gulf cities.
In the last week itself, the department had seized gold worth ₹2 crore that was brought into the country illegally.
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