Govt cuts base import price of gold by $11/10 gm, silver by $18/kg
This story was originally published at 16:38 IST on 3 March 2025
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MUMBAI – The government has cut the base import price of gold by $11 per 10 grams to $927 per 10 grams, according to a notification issued by the Central Board of Indirect Taxes and Customs on Friday. The yellow metal has lately come under selling pressure due to a recovery in the dollar index and profit-taking by investors at higher levels.
The base import price of silver was decreased by $18 per kg to $1,025 per kg, as per the notification. The base import prices of silver were last revised on Feb. 14, when the levy was hiked by $42 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 87.37
Reported by Sandeep Sinha
Edited by Tanima Banerjee
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