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Gold price increased by Rs 12 to Rs 58,985 per 10 gram in futures trade as speculators created fresh positions on firm spot demand.
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The gold paste was concealed in his baggage, and it was discovered during a search by the Air Customs team.The recovered gold paste contained an extracted quantity of approximately 1,893 grams of pure gold, valued at Rs. 99.53 lakhs.
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Gold price on Wednesday increased by Rs 32 to Rs 59,280 per 10 gram in futures trade as speculators created fresh positions on firm spot demand.
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The official stated that it was evident that both passengers had committed an offense subject to punishment under Sections 132 and 135 of the Customs Act.
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The customs officers have seized 808 grams of smuggled worth Rs 49.12 lakh at Sri Guru Ram Dass Jee International Airport here on Tuesday.
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26-year-old Rayavarapu Venkatesh killed 72-year-old Varalakshmi allegedly by suffocating her with a pillow.
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In Thursday's futures trade, gold prices rose by Rs 184, reaching Rs 59,645 per 10 grams. The surge was driven by speculators establishing new positions due to strong spot demand.
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Households in districts with greater banking access and better health infrastructure showed a smaller shift towards gold, it said.
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On the Multi Commodity Exchange, gold contracts for August delivery traded higher by Rs 115 or 0.19 per cent at Rs 59,905 per 10 grams in a business turnover of 8,029 lots.
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Gold contracts for August delivery on the Multi Commodity Exchange witnessed an increase, trading higher by Rs 68 or 0.11%.
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Fresh positions built up by participants led to the rise in gold prices, analysts said. Globally, gold was trading 0.48 per cent higher at USD 1,965.70 per ounce in New York.
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Gold prices on Monday fell by Rs 191 to Rs 59,125 per 10 grams in futures trade as speculators reduced their positions.
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The 24 karat gold per 10 grams reached a price of Rs 60,000, marking a significant increase of Rs 380 from the previous day's price of Rs 59,620.
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The officials also seized around 62,000 foreign cigarette sticks from two other passengers
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Gold price remained flat at Rs 59,280 per 10 gram in the national capital on Wednesday, according to HDFC Securities.
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The five passengers, who were Indian citizens, smuggled those gold via Bangkok, customs officials at Delhi airport said.
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Three passengers who are from Uttar Pradesh had arrived at the airport in a flight from Riyadh and had concealed the gold in the form of paste in their shoes
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Adilabad police said the burglars stole gold ornaments and cash from Madhukar's house by breaking open the doors
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India's gold demand in the January-March quarter of 2023 fell 17 per cent year-on-year to 112.5 tonnes following record-high and volatile gold prices
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Air Intelligence Unit of the customs department seized 269 grams of gold concealed inside chocolates from two passengers