Post-demonetisation, gold smugglers work out new plans
By GCRU Gold News on Wednesday, April 5 2017, 09:58 - Permalink
Demonetisation of high denomination currency had checked gold smuggling for a few months as the domestic and cross-border unaccounted cash flow through informal (hawala) networks had been choked.
Data says, around 120 tonnes of gold was smuggled in India in 2016. Bullion traders fears that this year the quantity of smuggled gold could go up.