Silver lumps found with smugglers
Silver smuggling is on the increase between Bangalore and Hyderabad. As excise staff raided a bus coming from Bangalore at Shadnagar on Monday night, they found bundles of a certain kind with several passengers. When they opened the bundles, they found silver lumps. The shocked excise men got the lumps weighed and found those to be nearly 60 kg. When the gold prices were on a high, silver prices also shot up. It is curious why silver smuggling is taking place when silver prices the world over are falling. Silver prices rose to $18 an ounce in the first quarter of the year, and have since been falling. The new strategy of the silver smugglers in a falling market is intriguing.