Govt raises base import price of gold by $39/10 gm, silver by $40/kg
This story was originally published at 10:35 IST on 1 February 2025
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MUMBAI – The government has raised the base import price of gold by $39 per 10 gram to $897 per 10 gram, according to a notification issued by the Central Board of Indirect Taxes and Customs on Friday. The yellow metal benefitted from safe-haven demand as tariff threats from US President Donald Trump pushed prices in the domestic and international market to record levels.
The base import price of silver was increased by $40 to $1,001 per kg. The base import prices of silver were last revised on Jan. 15, when the levy was hiked by $2 a kg.
The government revises base import prices of gold and silver every fortnight and these are used to calculate the duty on gold and silver that individuals bring into the country. India is the world's biggest importer of silver and the second-biggest importer and consumer of gold. End
US$1 = INR 86.61
Reported by Sandeep Sinha
Edited by Tanima Banerjee
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