Informist, Monday, Jul 1, 2024

MUMBAI – The government has raised the base import price of gold by $4 to $748 per 10 gm, according to a notification by the Central Board of Indirect Taxes and Customs on Friday.

The base import price of silver has been reduced by $11 to $934 per kg. On May 21, the government had raised the base import price of the white metal by $109 to $1,028 per kg, the highest increase since Aug 7, 2020, when it was hiked by $122 per kg.

The government usually revises base import prices of gold and silver every fortnight and that is 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 consumer of gold. End

US$1 = 83.41 rupees

Reported by Romeo M. Raj

Edited by Tanima Banerjee

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