Feb 112014
 

China becomes gold importer

China has overtaken India as the largest importer of gold in the world and, worryingly, some of it is headed to India illegally.

According to the report, Financial intelligence agencies have stumbled upon evidence that after pushing in gold from Bangladesh and Nepal, smugglers are now routing the yellow metal through China as well.

The latest addition has been China which has already reached its all-time high figure in gold imports with still some time to go for the fiscal year to end.

Contributed By Sonia Narula

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