New Delhi: In view of rising prices of gold and silver in foreign markets, the government has increased the import duty value of both precious metals.

Import duty value is the price on which import duty is levied on gold and silver and some other items.In the notification of Central Board of Indirect Taxes and Customs, it has been said that the import duty value of gold has been increased by $ 14 to $ 496 per ten grams. The import duty value of silver has increased by $ 33 and now it has been increased to $ 596 per kg. The board reviews the import tariff value every fortnight.