Since ancient times, gold has been a well-liked investment, and it continues to have its attraction in today’s market full of possibilities. For many investors, it is the best option due to its tangible character and inherent worth, often beating equities and other high-return assets over the medium to long term.
Gold has great cultural significance in India, in addition to being a valuable investment. It is very important in weddings; brides all over the nation feel that gold jewelry is a must. Local prices are also impacted by the rise in gold purchases that occur around festivals like Diwali and Dussehra.
Many individuals are curious about where to locate the greatest bargains on gold since the price of the metal varies widely. The top five nations where gold prices are noticeably less than those in India are as follows:
Lowest Prices for Gold
1. The Indonesian
Indonesia is renowned for offering some of the best-quality gold at some of the lowest prices worldwide. In Indonesia, ten grams of 24-karat gold cost 1,330,266 IDR (Indonesian Rupiah), or about Rs 71,880. On October 12, the price per 10 grams of the same grade gold in India was Rs 77,700. There is a Rs 5,820 discrepancy as a consequence.
2. The Malawian
The price of 24 carat gold in Malawi, an East African nation, is 1,482,660.70 MWK (Malawian Kwacha) for 10 grams, or Rs 72,030. This is Rs 5,670 less than what it costs in India.
3. The Chinese mainland
The price of ten grams of 24-karat gold in Hong Kong is HKD 665, or around Rs 72,050. In contrast to the Indian rupee of Rs 77,700, this indicates a Rs 5,650 price differential.
4. Vietnam
Additionally, gold prices are cheaper in Cambodia. The price of 24 carat gold on October 12 was 347,378.43 KHR (Cambodian Riel), or Rs 72,060 for ten kilos.
5. United Arab Emirates
Because of its tax-friendly laws, Dubai is known for having the lowest gold rates in the United Arab Emirates. In Dubai, ten grams of 24-karat gold cost AED 3180.25, or around Rs 72,840. This is less than the tariff in India by Rs 4,860.
