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.
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 jewelry retailers like Tanishq, Kalyan, Malabar amid tightened silver import licensing rules.