Gold Prices Lower Than India in These 7 Countries: Gold and silver are the two precious metals that are in high demand for centuries. Gold is considered beneficial for any country’s economy because of its role as a stable store of value. It is a hedge against inflation currency devaluation and a safe-haven asset during times of economic uncertainty. These are the reasons why the prices of the glittery yellow metal are always high. India is also one of the biggest consumers of the precious metal. In India gold is not just jewellery but an asset that people can use during their hard times. The prices of gold in India are surging every day. Recently during Diwali the prices of the yellow metal touched an all-time high mark making it difficult for people to buy it. But do you know there are places where gold is cheaper than in India? Let’s check out. Why Gold Is Expensive? Gold is universally valued and its price depends on various factors. The price an individual pay for the yellow metal can vary depending on the country. Factors that effect gold prices are taxes import duties and local demand. For people who are planning to buy a good amount of gold as an investment knowing where its cheaper can make a major financial impact and also save a hefty amount.