Silver Rules Tighten in India After Volatile Trading on Gold-Duty Moves
India restricted imports of silver bars and semi-manufactured silver effective immediately, requiring tighter approvals after a surge in imports and volatility in domestic prices. The move follows a tariff hike that raised duties on gold and silver to 15%. Silver imports hit a record $12 billion last year, with April imports up 157% from a year earlier. Retail silver prices in major cities ranged from 280,000 to 290,000 rupees per kilogram on Sunday.
