The Central Board of Excise and Customs of the Indian government having reduced the import tariffs on gold and silver, reports say. The value of the import tariff is usually revised every 15 days, while considering the global prices. This is the base price on which the customs duty is determined.

Import duty on gold is now at $385 per 10 grams, and the said duty on silver will now stand at $544 per kg after a deduction, reports say. As the prices vary according to international prices, the previous 15 days recorded gold prices at $398 per 10 grams and on silver at $567 per kg, reports say.