gold
4 held with 11 kg gold at Sylhet airport
Customs officials detained four people along with 11 kgs of gold at Sylhet Osmani International Airport on Monday.
The detainees are Makbul Ali, son of Abdul Ahad, Bashir Uddin, son of Mantaz Ali, Sultan Ahmed, son of Najim Uddin of Kanaighat upazila and Sheikh Mohammad Zahid of Nabiganj upazila.
Read: Gold worth Tk 2.5 crore seized in Chuadanga
Al Amin, deputy commissioner of Sylhet Customs, said a flight of Biman Bangladesh Airlines BG-248 landed at the airport around 9 am from Dubai.
Tipped off, a team of customs officials challenged four passengers of the flight and recovered the gold worth Tk 7 crore from their luggage.
The gold was brought tactfully concealing in iron machines and juicers after melting it, said Al Amin.
Gold worth Tk 2.5 crore seized in Chuadanga
Members of Border Guards Bangladesh (BGB) seized four gold bars, weighing 4 kg, worth Tk 2.57 crore from Ramnagar Eidgah Field in Damurhuda upazila of Chuadanga district on Friday.
Tipped off, a BGB team conducted a drive in the area and seized four abandoned gold bars from a field along the Darshana border, said a BGB media release.
The gold bars were deposited with the Chuadanga treasury office.
Read: Gold bars worth Tk73 lakh seized at Shahjalal airport
Bangladeshi-Italian held with Tk 1.84cr gold at Dhaka airport
A Bangladeshi-origin Italian national was was held with gold bars worth over Tk 1.84 crore at Hazrat Shahjalal International Airport in Dhaka on Thursday.
Amranul Haque, who's originally from Raipura in Bangladesh’s Narsingdi district but now an Italian citizen, arrived in Dhaka at 2.37pm on Thursday on a flight from the European country, Customs officials said.
Read: Gold bars worth Tk73 lakh seized at Shahjalal airport
A regular scanning of his bag helped the Customs officials seize 3.07 kg of gold worth Tk 1.84 crore. Action will be taken against him, the officials said.
Is Gold a Good Investment?
Is gold a good investment? However, the answer is not as simple as the question. Is the investment long-term or short-term? What is the investment amount? Since gold has historically been a significant fixed asset across economic denominations, it easily comes up as the top choice for asset investment.
The History of Gold Investment
The use of gold as a trading instrument dates back to almost 4000 BC. Back then it was mostly used as a bartering tool. Historically, gold held a high trading and asset value in all the large civilizations beginning from the Egyptian to the Roman empire.
The first minted gold coin dates back to 500 BC under the rule of King Darius I of Persia. Over the years, regulations and acts saw gold become a significant tangible asset. In addition to offering significant value storage, there are some other benefits associated with gold that make it an investment haven for many.
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Why Should Someone Invest in Gold?
The main reason to invest in gold is because of the safety it provides. Risk-averse investors tend to look for three key things – rewards, liquidity, and safety. Historically gold has been a go-to option considering the high liquidity value and price fixations. In recent years, the reward system from gold is also catching up with the other two because of newer investment options.
To answer why should someone invest in gold? One needs to look at two market-related factors:
- Gold always outperforms inflation. Regardless of the inflation condition, the tangible value of gold remains almost unchanged thanks to its international valuation as a reserve determinant.
- Gold investment is inversely proportional to any form of equity investment. Meaning every time the stock market goes down, the price of gold goes up. So, for anyone looking to play safe on their investment, gold can be an ideal choice. Having a mix of gold investments on the portfolio will help to maintain some ground even if the overall investment goes down through equities. Gold can act as a good buffer for investment.
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Gold worth at least Tk 4 crore stolen from Karnaphuli Garden City shops
At least 700 bhori gold in ornaments was stolen from two jewelleries in Karnaphuli Garden City in the capital's Kakrail.
The incident only came to light on Saturday morning when employees showed up for work and found the locks were broken. The thieves had enjoyed a free run while the shops were closed.
Officer-in-Charge Md Monirul Islam of Ramna model police station told UNB that the theft targeted two shops - Best and Best Jewellers and Mohana Jewellers, on the fourth floor of the shopping mall.
"So far I know, at least 700 bhori gold ornaments were stolen from the two shops. The quantity of stolen gold ornaments might increase as counting continued," the OC said.
READ: Gold bars worth Tk 7 crore seized at Ctg airport
One bhori, a unit of measurement for bullion used in South Asia, equals 11.66 grams. According to Gold Prices Dubai live prices, as of today the price of gold in Bangladesh is Tk 4900 per gram. The price of the 700 bhori comes close to Tk 4 crore.
The owners claimed that the thieves broke the lock and took away gold and money. However, they are still calculating the amount taken.
A police officer not authorised to speak to the media said an investigation was underway and CCTV footage of the mall was being collected, including a list of employees and nightwatchmen for scrutiny.
READ: Gold bars worth Tk73 lakh seized at Shahjalal airport
Several people were taken into police custody on Saturday for interrogation, the Officer said requesting anonymity.
Gold bars worth Tk 7 crore seized at Ctg airport
As many as 86 gold bars worth Tk 7 crore were found hidden under two passenger seats of a Biman Bangladesh Airlines flight that landed at the Chattogram international airport from Dubai on Saturday morning, Customs officials said.
Sumon Chakma, deputy commissioner of Customs at Hazrat Shah Amanat International Airport, said they carried out a search operation as soon as the Biman flight (BG-148) landed from Dubai in the morning, acting on a tip-off.
READ: Gold bars worth Tk73 lakh seized at Shahjalal airport
"Some 86 gold bars weighing 10kg, the market value of which is Tk 7 crore, wererecovered from under two passenger seats. However, no one was arrested in this connection," the officer said.
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BGB arrests smuggler with 1.4 kg gold
Border Guard Bangladesh, or BGB's Maheshpur Battalion on Monday arrested a gold smuggler with 1.397 kilograms of gold near the Indian border at Jibannagar in Chuadanga.
The arrestee is Md. Shahabul Islam, 44, son of Md. Ali Ahmed of Medinipur village in Jibannagar.
The BGB patrol team led by Naik Nazrul Islam of Medinipur BOP was operating an anti-smuggling operation when Shahabul was seen speeding on his bike near Khalpara bridge area of Medinipur village.
The patrol team, with the help of locals, managed to arrest him and seize 12 gold bars weighing 1.397 kg, as well as his 110 cc motorcycle.
Shahabul in custody has revealed two other names- Mohammad Wasim Mia, 35, and Mohammad Rashed Ali, 30, were involved in smuggling with him, said BGB sources.
He was handed over to Jibannagar police station along with the gold bars and motorcycles.
A case was being filed in this regard, they said.
2 held with gold worth over Tk 2cr in separate drives at Dhaka airport
Customs officials detained two men along with 20 gold bars, paste-like gold, and various gold ornaments at Hazrat Shahjalal International Airport in separate drives on Thursday and Friday.
The detainees were identified as MH Shiblee, and Rakibul Hasan.
Read: Man held with Tk 3.5 crore worth gold at Sylhet airport
Customs Detective and Investigation Circle of the airport said in a press release that based on a tip-off, officials intercepted Shiblee at the airport around 9.30 am today upon his arrival from Sylhet on a Biman Bangladesh Airlines flight from Dubai.
"Upon frisking, our officials found 18 gold bars weighing 2.09kg hidden in a paper bag in his luggage. The estimated market value of the seized gold is Tk 1.46 crore," said the release.
On Thursday, the Customs officials, tipped off, searched Rakibul Hasan upon his arrival from Dubai on a Biman Bangladesh Airlines flight and seized 525 grams of paste-like gold and two gold bars and 98 grams of various gold ornaments.
Read: 12 kg gold bars seized at Dhaka airport
The estimated market value of the seized gold on him is Tk 59.85 lakh.
The seized gold was later deposited at the Customs Warehouse.
The detainees were later handed over to the Airport Police Station. A case will be filed against them in this connection, said the release.
Man held with Tk 3.5 crore worth gold at Sylhet airport
Customs intelligence officials seized 6.148 Kg gold worth Tk 3.5 crore from a passenger coming from Dubai at Sylhet Osmani International airport on Monday.
The officials have recovered 38 bars and a disc of gold from Parendranath Dash, a resident of Nazirabad area in Moulvibazar sadar up[azila.
Also read: 12 kg gold bars seized at Dhaka airport
The airport authority said they found Biman’s BG-248 flight’s passenger Paresh’s movement at the airport suspicious and interrogated him.
At one point he confessed to carrying gold which was recovered from inside a juicer blender in his luggage.
Deputy Commissioner of airport’s customs Mohammad Al Amin said Paresh is currently under the custody of the authority and they are investigating how he got the gold.
Also read: Man held with 8 gold bars in Hili
Meanwhile, Parendranath said an anonymous person has handed him the blender.
12 kg gold bars seized at Dhaka airport
Customs officials on Monday seized 104 gold bars worth some Tk8.44 crore from an aircraft at Hazrat Shahjalal International Airport in Dhaka.
According to a press release of the Directorate of Customs Intelligence and Investigation, a team of customs officials, tipped off, searched the cargo hold of a Biman Bangladesh Airlines flight from Dubai around 9.15am.
Also read: Man held with 8 gold bars in Hili
Later, the officials found 104 gold bars weighing 12 kg in three packets hidden in the cargo hole of the aircraft.
The gold bars were brought for ‘smuggling’ purposes to avoid duty fees. However, no one was identified, according to customs intelligence sources.
Processes are underway to file a case in this regard, said the release.
Also read: Security guard held with 80 gold bars at Chattogram airport