By Admin 
Gold-Silver News: There has been a lot of fluctuation in the prices of gold and silver in recent times. A lot of changes have been seen not only in prices but also in import duty. Due to which sometimes businessmen benefited and sometimes it also resulted in loss. So the solution of the customers has also been similar. Meanwhile, once again the government has taken a big decision on the import of gold and silver, which can provide some relief to both the jewelery market and the customers.
What is the new decision of the government?
In fact, the Central Government has recently reduced the base import price of gold and silver. The government has reduced the base import price of gold by $ 51 (about Rs 4 thousand 851 in Indian rupees) to $ 1,297 (about Rs 1 lakh 23 thousand 381 in Indian rupees) per 10 grams and the base import price of silver by $ 22 (about Rs 2 thousand 092 in Indian rupees) to $ 1,875 (about Rs 1 lakh 78 thousand 365 in Indian rupees). Rs) per kilogram.
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What is base import price?
Base import price is the price on the basis of which customs duty on imported gold and silver is calculated. The government changes it from time to time according to international prices. Recently, the government has once again made a similar change, which can provide relief to both businessmen and customers.
What will be the impact on retail business?
With this decision of the government, the duty cost of importers and jewelery traders will be reduced to some extent. With this, importing gold and silver will become cheaper than before, which will also make a huge difference in the cost and margin of the traders selling gold and silver jewellery. If international prices and the dollar-rupee exchange rate remain stable, some of its benefits may also reach the customers.
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Will the prices of gold and silver come down?
With this decision of the government, common customers can also get relief on gold and silver. It is possible that in the coming days, there may be some relief on the prices of gold and silver jewelery and bullion. However, this relief may be limited as the final price depends on many other factors.