10 Countries Where Gold Is Cheaper Than India: How Much Gold Can you Bring From Abroad?

Import guide gold 10 countries cheaper than India: Gold's luster is increasing in the country. On Monday, according to the India Bullion and Jewelers Association (IBJA), the price of 10 grams of 24-carat gold closed at Rs 124,155, a new record high. However, gold is available much cheaper in many countries around the world than in India. Let's explore 10 countries where gold prices are lower when converted to Indian currency. Note that these rates are based on local currencies, but these figures are obtained when converted to rupees.

Indonesia and Turkey 

In Indonesia, the price of 10 grams of 24-carat gold is currently Rs 118,276. In Turkey, it is Rs 118,436. Rates vary in local currencies in these countries, but these figures are obtained after conversion to Indian rupees.

Colombia and the United States 

In Colombia, the price of gold per 10 grams is Rs 118,517. In the United States, it is Rs 118,493. The United States has always been a country with competitive prices, as the strong dollar makes gold cheaper against other currencies.

Hong Kong and Switzerland

In Hong Kong, 10 grams of gold is available for ₹118,559. In Switzerland, the country with the world's largest gold reserves, the price is Rs118,552.8 (approximately). The strength of the Swiss franc and its large reserves make gold quite affordable here.

Singapore and Australia

Due to Singapore's financial hub status, the price of 10 grams of gold here is ₹118,597, which is linked to global rates. In Australia, it is priced at Rs 118,574.

Malawi and UAE

In the African country of Malawi, the gold rate is Rs 118,359 per 10 grams. In the United Arab Emirates (UAE), it is Rs 118,652. The difference in gold prices in all these 10 countries is only Rs 200-₹300, which is significantly lower than the Indian rate.

Limits on bringing gold from abroad 

Good news for travelers, but the limits are strict. Male travelers are allowed to bring in up to 20 grams of gold, or Rs 50,000 worth of duty-free gold from abroad. Since the current rate is Rs 1.25 lakh per 10 grams, the 20-gram limit is no longer practical. Women are allowed to bring in up to 40 grams, or Rs 1 lakh worth of gold, without customs duty, but due to high prices, even this does not seem sufficient. Customs duty will apply on additional gold. These prices are subject to change with market fluctuations. Check local rates before investing or purchasing.