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Informist, Thursday, Apr. 30, 2026

--Govt cuts gold base import price to $1,456/10 gm from $1,544/10 gm 

--Govt cuts silver base import price to $2,360/kg from $2,509/kg 

MUMBAI – The government has lowered the base import price of gold by $88 per 10 grams to $1,456 per 10 gm, according to a notification issued by the Central Board of Indirect Taxes and Customs on Thursday. The base import price of silver has also been cut by $149 per kilogram to $2,360 per kg. The base import prices of both precious metals were last revised on Apr. 15.

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.

Prices of precious metals have simmered down in the past few weeks as the ongoing stalemate between the US and Iran has kept the Strait of Hormuz largely shut, keeping energy prices elevated. As such, concerns about a rise in inflation continue, which could prompt central banks across the globe to keep interest rates unchanged. Typically, higher interest rates dim the appeal of non-interest-bearing precious metals.  End

US$1 = INR 94.91

Reported by Shreya Shetty

Edited by Deepshikha Bhardwaj

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