Will Gold Become Cheaper As India Cuts Base Import Price Of Gold And Silver

Gold and silver can be cheaper in India. The government has spoken of a reduction in the base import prices of gold and silver.

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New Delhi: The Government of India has said to cut the base import prices of gold and silver. After this move of the government, it can be cheaper to buy gold and silver in India. In India gold prices are charged as 7.5% import duty and 3% GST. This notification issued by the government has become effective from today.

Let us inform you that today there has been a big fall in gold and silver prices. Gold fell to $ 1,755 an ounce in the last trading session in the international market. Earlier, gold came close to this level on 15 April.

After the fall in gold in the international market, the price of gold was seen softening by Rs 264 in the bullion market of Delhi. The price of gold in Delhi has reached Rs 45,783 per 10 grams. At the same time, gold had closed at 46,047 in the last trading session. 

If you look at the rate of India Bullion and Jewellers Association Limited, the IBJA, the price of gold looks something like this today. (These prices are quoted without GST per 10 grams)

999 (purity) - 46,753
995- 46,566
916- 42,826
750- 35,065
585- 27,351

City	22 carats / 10 grams (price in rupees)	24 carats / 10 grams (price in rupees)
Delhi	45,890	49,890
Mumbai	45,730	47,730
Kolkata	46,090	48,790
Chennai	44,090	48,090

Looking at the prices of gold in major cities of the country, the price of 22-carat gold in Delhi is Rs 45,890 and that of 24-carat gold is Rs 49,890. Whereas in Mumbai, the price of 22-carat gold is Rs 45,730 and 24-carat gold is Rs 47,730.

In Kolkata, 22-carat gold is being sold for Rs 46,090, while 24-carat gold is Rs 48,790. In Chennai, the price of 22-carat is Rs 44,090, and 24-carat is maintained at Rs 48,090.