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Cheapest Countries To Buy Gold: Know Prices, Import Duty, Comparison With India

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The article from News18 discusses the affordability of gold in various countries compared to India, highlighting the impact of import duties and local taxes on gold prices. In India, gold is priced at approximately $60 per gram, influenced by a high import duty of 12.5% and additional taxes like GST. Comparatively, countries like Dubai offer gold at around $55 per gram due to lower import duties and no additional taxes, making it a popular destination for Indian tourists to buy gold. Hong Kong, with no import duty on gold, sees prices around $57 per gram. Singapore, despite having a 7% GST, still offers gold at competitive rates due to its efficient market. Turkey, with a 20% import duty, has higher prices at about $62 per gram, but its cultural significance in gold consumption keeps the market active. The article also notes that while these countries might offer cheaper gold, factors like travel costs, local taxes, and the purity of gold should be considered when comparing prices internationally.

Read the Full News18 Article at:
[ https://www.news18.com/business/savings-and-investments/cheapest-countries-to-buy-gold-know-prices-import-duty-comparison-with-india-9256043.html ]