MUMBAI, 1 Jul (Commoditiescontrol): The Indian government has increased the base import price of gold by $4 to $748 per 10 grams, as per a notification issued by the Central Board of Indirect Taxes and Customs on Friday.
Conversely, the base import price of silver has been reduced by $11 to $934 per kilogram. This follows a substantial increase on May 21, when the government raised the base import price of silver by $109 to $1,028 per kilogram, marking the highest increase since August 7, 2020, when it was hiked by $122 per kilogram.
The government typically revises the base import prices of gold and silver every fortnight, using these prices to calculate the duty on gold and silver imported into the country. India is the world's largest importer of silver and the second-largest consumer of gold.
(By Commoditiescontrol Bureau; +91 98201 30172)
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