India
oi-Vicky Nanjappa
New Delhi, Feb 01: Gold in the national capital on Monday tumbled Rs 1,324 to Rs 47,520 per 10 gram on a day when the government announced cut in import duty on gold and silver, according to HDFC Securities.
In the previous trade, the precious metal had closed at Rs 48,844 per 10 gram.
Silver, in contrast, jumped Rs 3,461 to Rs 72,470 per kilogram from Rs 69,009 per kilogram in the previous trade.
In the international market, gold was trading in the green at USD 1,871 per ounce and silver also quoted with gains at USD 29.88 per ounce.
The government on Monday announced a cut in import duty on gold and silver, a move that will help bring down prices of these precious metals in the domestic market and boost exports of gems and jewellery.
“Gold and silver presently attract a basic customs duty of 12.5 per…