The government has slashed the import tariff values of Gold and silver today. Till yesterday, the tariff value on imported gold was at $407 per ten grams now the value is $404 while silver is $663 per kg now it stood at $635. The Central Board of Excise and Customs (CBEC) were issued the orders of this slash in price by government today the morning hours.

After analyzing the global price trend, the government took this decision. Gold is second largest item in the country after Petrol. This decision may increase the sales of gold however, imports of gold will decline as government is likely to take several measure to decrease them because of high current account deficit.

(AW: Vamshi)