Top News

The world's cheapest gold market is not Dubai but it is a country.

Gold has always been an important metal in India, especially for weddings, festivals and investment. There is a lot of demand for gold in the country, but due to limited production of gold in the country, we have to import most of gold from abroad. At present, India imports the most gold from Switzerland.

Switzerland is considered to be the largest and famous gold refining hub in the world. The gold refineries here prepare gold of world class quality and purity. Gold is not only refined in Switzerland, but it is also a big transit hub, which makes it easier to reach gold to other countries. According to data so far, about 40% of gold from India comes from Switzerland.

Due to the high quality, stability and trust of Switzerland, Indian customers prefer to sleep here. Also, tax and fees on Swiss gold are also favorable to some extent compared to India. Therefore, Indian jewelery manufacturers and traders give priority to import gold from Switzerland.

Where else is the import of gold in India?

Apart from Switzerland, India also imports gold from many other countries. UAE is another big gold source for India, from where about 16% of gold comes. This place is also very popular due to Dubai's world famous gold market and tax-free policy. Apart from this, India also gets gold from South Africa, Guinea and Peru.

Gold is available in these countries from India

There are many reasons for gold becoming expensive in India, including high import duty, GST and transportation costs. In such a situation, many people think that buying gold from where it will be economical. Globally, there are some countries where gold prices are less than in India.

• Australia: Due to the large production of gold, gold is available in abundance here and prices are comparatively low.
• Singapore: There is no GST on investable gold here, due to which prices are quite competitive.
• Switzerland: Switzerland's demand for gold in purity and quality is worldwide, and imports from here are also prominent to India.
• Dubai: Dubai is also a popular place for gold due to tax-free facilities and huge gold market.
• Indonesia: Indonesia is also a good option for gold buyers due to rising gold production and low prices.

Current gold status and price impact in India

Recently, there has been an increase in gold prices in India. Globally, gold prices are affected due to several reasons, such as dollar conditions, global economic uncertainty, and policies of central banks. Currently, there is instability in the market around the world about the policies of American tariffs and Trump government. Because gold is always considered a safe investment, that is why the attraction of investors towards gold is increasing and gold prices are seeing a rise.