Government today further slashed the tariff value of gold to 449 US Dollars per ten grams and silver to 762 US Dollars per kg, in view of falling global prices of the precious metals. Tariff value is the base price on which the customs duty is determined to prevent under-invoicing.It was only two days back that the tariff value wasbrought down to 499 US Dollars per ten grams and silver at 890 US Dollars per kg.The notification in this regard was issued by the Central Board of Excise and Customs (CBEC).Gold prices are ruling down at 1337.86 US Dollars per ounce in SingaporeIn the national capital, gold rates have fallen sharply in the last few trading sessions and are currently ruling down at 26,600 rupees per ten gram. Silver is ruling at 45,400 rupees per kg.Decline in bullion prices has boosted domestic demand in the country, the world's largest gold consuming nation.