Gold: In These Countries, You Can Buy Gold at the Cheapest Rate, Fill Your Bags and Bring it to India

Gold: Due to the increasing prices of gold in India, people are now buying gold from other countries. Here, we are telling you which countries have the cheapest gold rates in the world.

In every Indian household, whether middle-class, upper-class, or lower-middle-class, gold is used in some form. Women wear gold jewelry, and it is considered auspicious to have gold at home. However, the prices of gold in India are increasing day by day. As a result, buying gold has become unaffordable for many. In such a situation, people are looking for cheaper alternatives, which are available not in India but in other countries, and at such low prices that you can fill your bags and bring them to India.

Forbes reports that one country is famous for having the cheapest gold rates in the world, and that is Dubai in the United Arab Emirates. You must have heard of gold smuggling cases at Indian airports from Dubai. The reason is that gold is very cheap in Dubai, and people buy it and bring it to India, hiding it to avoid excise duty, which is illegal. You can buy gold, but do it legally. As of July 2024, the price of 1 gram of 24k gold in Dubai is approximately AED 245 (Indian rupees 5,570.45). In contrast, the price of 1 gram of gold in India is around 7,592. Therefore, Dubai is the best place for gold buyers around the world.

According to Forbes, Malawi comes second on the list, of where the world’s cheapest gold is available. There is minimal additional cost on gold in Malawi, making it the cheapest. As of July 2024, the price of 1 gram of 24k gold in Malawi is approximately MWK 131,905 per gram (Indian rupees 6,346).

Forbes has ranked Australia third on the list. Australia has a large-scale mining industry, which makes gold very cheap. There are vast gold reserves in Australia. In cities like Melbourne, the rate of 24k gold is AUD 112.76 per gram (Indian rupees 6,347).

After Australia, Colombia in South America is known for having the cheapest gold rates. According to Forbes, the capital city Bogota has the cheapest gold rates. The reason is that this place is also filled with gold reserves. The price of 1 gram of 24k gold in Colombia is COP 307,720 per gram (Indian rupees 6,351).

Forbes has ranked Indonesia fifth on the list of countries with the cheapest gold rates. This country in Southeast Asia has become a favorite destination for buying gold. As of July 2024, the price of 1 gram of 24k gold in Indonesia is approximately IDR 1,236,900 per gram (Indian rupees 6,359). Local jewelers in the capital city Jakarta sell gold at even lower prices.