Government Reduces Gold Base Import Price by $80 per 10 gm to $1,343 per 10 gm

The Government of India has announced a reduction in the base import price of gold by $80 per 10 grams.  

This adjustment brings the new price to $1,343 per 10 grams. The change is set to take effect from June 12, 2026, as per the notification issued by the Ministry of Finance. 

Previous tariff on May 30, 2026, was at $1,423 per 10 grams.  

The gold base import price decreased by $80 per 10 grams, which is a 5.62% reduction from the previous tariff. 

Details of the Notification 

According to Notification No. 54/2026-CUSTOMS (N.T.), dated June 11, 2026, the Central Board of Indirect Taxes & Customs has amended the previous notification from August 3, 2001.  

The revised tariff value for gold is now $1,343 per 10 grams, applicable to gold in any form benefiting from the entries at serial number 194 of Notification No. 45/2025-Customs. 

Reduction on Silver Import Price 

While the gold base import price has been adjusted, the tariff value for silver also changed to $2,092 per kilogram.  

The silver base import price decreased by $276 per kilogram, which is an 11.66% reduction from the previous tariff on May 30, 2026, which was at $2,368 per kg. 

Other commodities like crude palm oil, RBD palm oil, and crude soya bean oil also see no change in their tariff values. The notification outlines these details in the amended tables. 

Read More: Gold Imports Start Falling After Import Duty Increase; Government Says No More Steps Planned! 

Implementation Date 

This notification will come into force on June 12, 2026. The changes are part of the government's ongoing efforts to adjust import tariffs in response to market conditions and economic strategies. 

Conclusion 

The Indian government has reduced the gold base import price by $80 per 10 grams, setting the new rate at $1,343 per 10 grams. This change, effective June 12, 2026, is part of broader tariff adjustments, with silver also reduced from their previous values. 

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