In the world of gold smuggling in Kerala, intricate schemes unfold, often involving carriers from the UAE, rival gangs, and strategic maneuvers to avoid detection. This illicit trade, deeply rooted in gang rivalry and hawala transactions, thrives alongside Kerala s enduring love for gold. Despite Customs crackdowns and high import duties, smuggling persists, driven by the state s insatiable appetite for the yellow metal. The lure of profit continues to outweigh the risks, ensuring that the clandestine trade in Kerala s gold remains a lucrative enterprise.
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Before falling for marketing spiel about zero percent making charges, do understand that jewellers can charge you under other heads, without calling them making charges.
The industry does not foresee customers flocking to jewellers this year during the normally busy and auspicious time of Dhanteras and Diwali, but the high price could mean that revenue figures are not badly affected.
While prices may not come down drastically, it is expected that there will be stability later in the year. The festive season is expected to push up local demand, while the export market is expected to pick up later this year.