Oil and gold price to decrease

New Delhi: Gold and silver prices may fall along with edible oil in the coming days. Why has the government reduced the price of basic imports of edible oil, gold, and silver? The government said in a statement, “There has been an improvement in global market prices.”

According to a report by Moneycontrol, the Indian government issued a statement late on Friday. According to this report, the base price of crude palm oil has been reduced from $996 to $937 per ton. It is then speculated that the fall in palm oil base price may lead to a fall in the price of edible oil. On this basis, the amount of tax to be paid by the importer is calculated.

Apart from this, the base price of RBD palm oil decreased from $1,019 to $982 per ton. The basic price of RBD Palmolein fell from $1,035 to $998 per tonne. The basic price of crude soybean oil fell from $1,362 to $1,257 per ton, the base price of gold decreased from $549 per 10 grams to $553 per 10 grams, and the basic price of silver decreased from $635 to $608 per kilogram. Market experts said that the price of gold and silver in the domestic market along with edible oil may decrease due to the reduction in the price of basic imports.