The Central government on Friday raised the import tariff value on gold by $8 to $362 per 10 gm, and reduced it for silver by $14 to $443 per kg, according to a Finance Ministry statement.
The tariff values on gold and silver were fixed at $354 and $457 on 18 January, 2016.
The import tariff value is the base price at which the customs duty is determined to prevent under-invoicing. It is normally revised on a fortnightly basis.
The tariff values on gold and silver were fixed at $345 and $452, respectively on 31 December, 2015.
Gold prices closed at Rs 27,050 per 10 gm on 29 January, down Rs 85 from Thursday's closing price, while silver prices fell Rs 350 on Friday to end at Rs 34,850 per kg.
Gold imports in December 2015 were valued at $3.80 billion, up from $1.36 billion in December 2014.