Base Import Price
Govt raises base import price of silver by $595/kg, keeps gold unchanged
This story was originally published at 09:39 IST on 28 January 2026
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--Silver base import price up at $3,545/kg from $2,950, not $2,724
--Govt keeps gold base import price unchanged at $1,567/10 gm
MUMBAI – The government has raised the base import price of silver by $595 to $3,545 per kg, according to a notification issued by the Central Board of Indirect Taxes and Customs late on Tuesday. The base import price of gold has been kept unchanged at $1,567 per 10 gm. The base import price of silver was last revised on Jan. 22.
The government normally revises base import prices of gold and silver every fortnight, and these are used to calculate the duty on these precious metals that individuals bring into the country. India is one of the world's biggest importers of silver and the largest consumer of gold.
Futures contracts of silver surged past the $100 per ounce mark on COMEX last week due to safe-haven demand. Geopolitical tensions between the US and Iran and US president Donald Trump's tariff threats against Canada and South Korea supported silver prices. Expectations around the US Federal Reserve also added to volatility, with speculation that a more dovish Fed chair appointment could strengthen the outlook for easier monetary policy, according to Kedia Advisory. End
US$1 = INR 91.64
Reported by Shreya Shetty
Edited by Vandana Hingorani
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