Govt Hikes Gold, Silver Base Import Prices Just 3 Days After Cut, Squeezing Jewellery Retailers
CBIC raised gold base import price by $5 to $1,348/10gm and silver by $83 to $2,175/kg, reversing a cut made three days earlier. Combined with 15% import duty and tighter silver import licensing, the move tightens margins for Tanishq, Kalyan and Malabar heading into the festive restocking window.
What happened
Government of India · Government raised base import prices for gold by $5 to $1,348/10gm and silver by $83 to $2,175/kg, three days after a cut. Move pressures
Key facts
- $1,348/10gm gold base price
- +0.37% gold
- $2,175/kg silver base price
- +4% silver
- 15% import duty
- $114.58 billion gold reserves
Why this matters
Policy volatility on bullion import pricing strengthens the case for vertically integrated sourcing and hedging partnerships ahead of festive demand.