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Bahrain, Kuwait, Malaysia, Oman, Qatar, and Dubai are some of the countries where gold is the cheapest in the world; check latest rates:
Check top-9 countries where gold is cheapest.
Gold prices has increased in the past few months due to global uncertainties. The correction in the equities market in India has further boosted the safe-haven demand for the yellow metal, thus raising its prices. Here’s are some of the cheapest countries to buy gold:
Known for its unmatched purity, 24-carat gold continues to attract buyers seeking premium quality. Meanwhile, 22-carat gold, prized for its durability and timeless charm, remains a favourite among jewellery enthusiasts and investors alike, striking a balance between elegance and practicality.
Here are top-9 countries where gold is cheapest (per 10 grams):
Bahrain: 359 BHD per 10 gram, or Rs 83,085.5
Kuwait: Kuwati Dinar 291.1 per 10 grams, or Rs 82,421.48
Malaysia: 4,230 RM, or Rs 83,516
Oman: OMR 369, or Rs 83,296
Qatar: QAR 352 per gram, or Rs 87,770
Saudi Arabia: 3,590 Saudi Riyal, or Rs 83,485.22
Singapore: SGD 1,331, or Rs 87,231.17
Dubai: AED 3,507.4, or Rs 83,292.65
USA: $950, or Rs 82,858.35
The prices are taken from goodreturns.com. The actual price may vary.
Gold Price in Delhi, Mumbai:
Gold was trading at Rs 80,500 per 10 grams for 22-carat and Rs 87,820 per 10 grams for 24-carat in Mumbai. In Delhi, the prices stand at Rs 80,650 and Rs 87,970, respectively.
What Is the Import Duty on Gold In India?
The import duty on gold in India currently stands at 6 per cent. It was reduced from 15 per cent to 6 per cent in the Union Budget 2024-25 by Finance Minister Nirmala Sitharaman.
When you bring gold from Dubai to India, the customs duty is imposed based on the government-notified rate of gold (called ‘tariff value’ or ‘base rate’), not the price at which you bought it in Dubai.
Currently, the tariff price of gold stands at $927 per 10 grams. It was reduced on February 28 by the Central Board of Indirect Taxes and Customs (CBIC) from the $938 earlier.
How Much Gold Are You Allowed To Carry On International Flights?
Under the Passport Act of 1967, Indian passengers are allowed to carry up to 1kg of gold, with specific duty-free allowances: 20 grams for men and 40 grams for women (with a value cap of Rs 1 lakh only in the case of a woman passenger.
Children are allowed to bring 20/40 grams of gold, with a value limit of Rs 50,000/Rs 1,00,000 depending on gender.
Passengers of Indian origin or those with a valid passport returning to India after at least six months of staying abroad are permitted to import gold in their baggage.
However, brief visits made during this six-month period will be disregarded if they do not exceed a total of 30 days and if the passenger has not already taken advantage of this exemption during those short visits. Importing gold in baggage is strictly prohibited for all other passengers.
