Precious Metals
Govt raises base import price of gold by $41/10 gm, silver by $42/kg
This story was originally published at 22:16 IST on 14 February 2025
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--Govt ups gold base import price to $938/10 gm from $897/10 gm
--Govt ups silver base import price to $1,043/kg vs $1,001/kg
MUMBAI – The government has raised the base import price of gold by $41 per 10 grams to $938 per 10 grams, according to a notification issued by the Central Board of Indirect Taxes and Customs on Friday. The yellow metal benefitted from safe-haven demand because of increasing trade tensions between the US and China.
The base import price of silver was increased by $42 per kg to $1,043 per kg. The base import prices of silver were last revised on Jan. 31, when the levy was hiked by $40 per 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 86.82
Reported by Sandeep Sinha
Edited by Deepshikha Bhardwaj
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