Price Cut
Govt slashes base import price of silver by $119 a kg, highest in 5 years
This story was originally published at 14:13 IST on 11 April 2025
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MUMBAI – The government has cut the base import price of silver by $119 per kilogram to $983 a kilogram, according to a notification by the Central Bureau of Indirect Taxes and Customs earlier this week. This is the biggest cut in base import price of silver in five years. Silver prices have fallen sharply because of concerns of a trade war and worries about demand.
The base import price of gold has been kept unchanged at $984 per 10 grams. The base import price of gold was last revised on Mar. 28, when the levy was increased by $43 per 10 grams.
The government has also kept the base import prices of edible oils unchanged. The government mostly revises base import prices of precious metals, edible oils, brass scraps, and areca nut every fortnight, depending on changes in global prices and foreign exchange rates. End
US$1 = INR 86.11
Reported by Sandeep Sinha
Edited by Ashish Shirke
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