Gold Price Alert: Government Cuts Base Import Price by $12, Will Gold Get Cheaper?

• Central government reduced gold's base import price by $12 per 10 grams on March 14.
• The new base import price is $1652 per 10 grams, down from $1664.
• Base import price is the standard used to calculate customs duty and import tax.
• This decision aims to reduce the tax burden on importers, benefiting jewelers, traders, and consumers.
• The move could lead to lower domestic gold prices and a more competitive market.