Check the List of Countries Where Gold is the Most Affordable

In recent months, gold prices have surged significantly due to global market fluctuations. The global gold price has now reached $3,000 per ounce, and experts predict further increases. In India, the fall in equity markets has driven up demand for gold, pushing its price even higher.

However, some countries still offer cheaper gold rates compared to others. Let's take a look at the top 9 countries where gold is currently the cheapest and how much it costs in each.

Top 9 Countries with the Cheapest Gold Prices

9. Bahrain

• Gold Price: 359 BHD per 10 grams
• Price in INR: ₹83,085.50 per 10 grams

8. Kuwait

• Gold Price: 291.1 KWD per 10 grams
• Price in INR: ₹82,421.48 per 10 grams

7. Malaysia

• Gold Price: 4,230 MYR per 10 grams
• Price in INR: ₹83,516 per 10 grams

6. Oman

• Gold Price: 369 OMR per 10 grams
• Price in INR: ₹83,296 per 10 grams

5. Qatar

• Gold Price: 352 QAR per 10 grams
• Price in INR: ₹87,770 per 10 grams

4. Saudi Arabia

• Gold Price: 3,590 SAR per 10 grams
• Price in INR: ₹83,485.22 per 10 grams

3. Singapore

• Gold Price: 1,331 SGD per 10 grams
• Price in INR: ₹87,231.17 per 10 grams

2. Dubai (UAE)

• Gold Price: 3,507.4 AED per 10 grams
• Price in INR: ₹83,292.65 per 10 grams

1. United States (USA)

• Gold Price: $950 per 10 grams
• Price in INR: ₹82,858.35 per 10 grams

Gold Prices in India

In India, gold prices are currently higher than in the above-listed countries. The current gold rates are:

• Mumbai:
  • 22K Gold: ₹80,500 per 10 grams
  • 24K Gold: ₹87,820 per 10 grams
• Delhi:
  • 22K Gold: ₹80,650 per 10 grams
  • 24K Gold: ₹87,970 per 10 grams

Gold Import Duty in India

India recently reduced its gold import duty.

• The import duty on gold was cut from 15% to 6% in the Union Budget 2024-25, as announced by Finance Minister Nirmala Sitharaman.
• When bringing gold from Dubai to India, customs duty is applied based on the government's notified tariff rate, not the price at which you purchased the gold in Dubai.

Final Thoughts

While gold prices are rising globally, some countries still offer cheaper rates than India. Bahrain, Kuwait, Malaysia, and the USA are among the best places to buy affordable gold. However, import duties and taxes must be considered when bringing gold into India.

For those planning to invest in gold, keeping track of global price trends and government policies on gold imports is essential.