Where to Buy Gold at the Cheapest Prices? Top Countries Offering Lower Rates than India and Dubai
Gold remains one of the most sought-after investments globally, prized for its intrinsic value and historical significance. Whether as a hedge against inflation, a long-term investment, or for cultural reasons, many investors and buyers seek the best deals on gold. While India and Dubai are often seen as gold hotspots , several countries offer significantly lower prices. Here’s a guide to the top five countries where gold is priced more affordably compared to India and Dubai.
1. Indonesia: Affordable Quality Gold
Indonesia is a haven for gold buyers seeking quality at lower prices. The cost of 24-karat gold here stands at 1,330,266 IDR (around ₹71,880) per 10 grams, making it approximately ₹5,820 cheaper than India's current rate of ₹77,700 per 10 grams. This price advantage, coupled with good quality, makes Indonesia an attractive option for gold purchases.
2. Malawi: Low Prices in East Africa
Malawi, located in East Africa, offers 24-karat gold at 1,482,660.70 MWK (₹72,030) per 10 grams. This price is approximately ₹5,670 lower than India's, making Malawi an affordable choice for those looking to invest in gold with minimal financial strain.
3. Hong Kong: A Leading Gold Hub
Hong Kong, known for its efficient trading environment, offers 24-karat gold at around HKD 665 (₹72,050) per 10 grams. While not as cheap as some other countries on this list, it still presents a saving of ₹5,650 compared to Indian rates, making it a viable option for budget-conscious buyers.
4. Cambodia: Competitive Prices
Cambodia offers 24-karat gold at 347,378.43 KHR (₹72,060) per 10 grams, offering a relatively affordable price. The difference between Cambodia's gold prices and India's is minimal but still a helpful saving for those looking to buy in bulk or at competitive rates.
5. Dubai, UAE: The Gold Capital of the Middle East
Dubai is renowned for its tax-friendly regulations and duty-free status, which help keep gold prices competitive. At AED 3180.25 per 10 grams (₹72,840), Dubai's gold is approximately ₹4,860 cheaper than the prices in India, making it a popular destination for gold buyers worldwide.
When buying gold, several countries offer more favorable prices than India and Dubai, with Indonesia, Malawi, and Hong Kong leading the way. Whether you’re buying for investment or cultural reasons, exploring these countries can help you make the most of your gold purchases.