Why is gold so cheap  in Dubai?

Riwa Singh

Indians just love gold. Even after ages, our obsession with gold remains intact. We are one of the biggest importers of this metal.

It is not only considered precious but auspicious too. Gold ornaments are gifted at weddings and other events.

But if we talk about the rate of this metal, it's way cheaper in Dubai than in India. And that's why people prefer getting gold when they're in Dubai.

Ever wondered why it is so pocket-friendly there?

The biggest reason is import duty! It is way too high in our country and hence the price.

When gold is imported in India, a fee has to be paid in the name of charges but in Dubai, there's no such fee.

But getting gold from Dubai isn't that profitable as the making charges are really high there. Plus the customs duty. 

The making charge of gold is around 7% in India whereas in Dubai it is 25%. So the deal doesn't make you save much.