Q518. What is the price difference in gold price between Dubai and India?

Question: I have a question which I am sure many other people may also be wanting answer to this question. My question is what

exactly is the price difference in dubai gold price and India gold price.

I hear so many people saying NRI people can make a lot of money if they take gold to India and then sell the gold.

A Menon

Answer: The price of gold in India as of January 2014 is around Rupees 29,000 for 10 gms of 24 Carat Gold. The price of gold in India can vary by up-to a few hundred Rupees from city to city within India. Generally I have found the price of gold in Delhi, to be the cheapest across India and prices in Chennai, the highest! The price quoted today January 12, 2014 in Delhi is showing as Rupees 29010 for 10 grams, whereas for Chennai the quoted price is Rupees 29710. The chart below is to show the price difference in the price of gold between Dubai and India.

Price difference on gold between India and Dubai

The chart shows the price difference between the price of 10 grams of gold. To convert to 1 Kg, multiply the 10 gram price difference of

Rupees 4158 by 100 and this comes to 4,15,800.

So you could technically save Rupees four lakh, fifteen thousand, eight hundred per Kg, if you buy gold from Dubai compared to the

price in India. However, keep in mind that if you buy gold in Dubai and take it to India, payment of customs duty in foreign exchange is

required.