India hike gold, silver import base value amidst increasing global uncertainty – CNBC tv18

According to a notification of indirect tax and Customs (CBIC) released on Friday (14 February), the Government of India has increased the import price of gold by $ 41 per 10 grams, which $ 938 per 10. The village is released on Friday (14 February).

The base value of silver has also been increased by $ 42 per kg.

This amendment reflects global value trends, where gold is looking at an increased demand as a safe-heaven property due to increasing trade tension between the US and China.

Gold prices are rising globally due to economic uncertainty and geopolitical risks.

A high base value ensures that import duties, which are applied as a percentage of base value, accurately reflects the market trend.

Silver prices have also increased, leading to adjustment in its import price.

Gold prices in India reflect global trends on Monday (17 February). Here are the recent rates of yellow metal:

• The price of 24k gold is ₹ 8,662 per gram.
• 22k gold is ₹ 7,940 per gram.
• The price of 10 grams 22k gold increased by ₹ 500 to ₹ 79,400.
• 100 grams 22k gold increased by ₹ 5,000 ₹ 7,94,000.

The latest import price modification will affect domestic gold rates, as traders adjust prices to reflect the new base cost.