Govt hikes base import price of gold by $14/10 gm, cuts silver by $6/kg
This story was originally published at 09:13 IST on 16 July 2026
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--Govt ups gold base import price by $14/10 gm to $1,311/10 gm
--Govt cuts silver base import price by $6/kg to $1,869/kg
MUMBAI – The government has raised the base import price of gold by $14 per 10 grams to $1,311 per 10 gm, according to a notification issued by the Central Board of Indirect Taxes and Customs late on Wednesday. The base import price of silver has been lowered by $6 per kilogram to $1,869 per kg. The revised base import price came into effect Thursday.
The customs department had previously revised the base import price for both precious metals on Jul. 1. Typically, the government revises base import prices of the two precious metals every fortnight, but makes more frequent changes when prices are volatile. India is one of the world's biggest importers of silver and the second-largest consumer of gold.
Prices of precious metals have been volatile in the past fortnight, gaining back some of their losses after the US and Iran signed an interim peace deal, but losing some of those gains in the past few days after military hostilities between the two countries resumed. End
US$1 = INR 96.26
Reported by Shreya Shetty
Edited by Akul Nishant Akhoury
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