Tariff value on Gold reduced to US $ 421 per 10 GRAMS,from 445 and that of Silver to,644 from 694/Kg.
At the time of writing,the prices of Gold and Silver,in the International markets are:-
Gold US $ 1286/US Oz [Rs 26751 Re 59.91 v US Dollar].In India Rs 28360/10 Grams
Silver US $ 616.63/Kg [Rs 36942/Kg]; in India Rs 42835/Kg
Tax base tariff for Gold = Rs 25222/10 gram
Tax base tariff for Silver = Rs 38582 / Kg
Premium on Gold in India = Rs 1609 per 10 Grams About 6%
Premium on Silver in India = Rs 5893 per Kg About 16% !!!
2.BDI falls drastically.
Will be updated............