Even today, gold is considered one of the safest investments in the world. When a person faces any trouble, the gold lying at home ensures financial help like an elder brother. You know all these things, but do you know what is the price of gold in India’s neighboring country? We are going to tell you this in today’s story.
You can get cheap gold here
In the last few years, India has been among the countries that have bought the most gold. You may be surprised to know that the most expensive gold in the world is sold in India. While the average price of 10 grams of 24 carat gold in the international market is around Rs 67,700, in India it is around Rs 72,905. The price of gold is low in all our neighboring countries except Myanmar. The price of gold in Pakistan, China, Bangladesh, Nepal and Sri Lanka is lower than in India.
Demand continues to rise
Although gold in India is about Rs 3800 per 10 grams more expensive than the international market, despite this the demand for gold is increasing here. According to a report by the World Gold Council, gold consumption in India can reach 850 tonnes this year, which is 13% more than last year. Last year 750 tonnes of gold was sold in the domestic market. According to the World Gold Council, the main reason for the increase in demand for gold is India’s growing population and increasing income of the people. Along with this, gold still remains a safe investment medium for many investors.
What does the report say?
According to Commerce Ministry data, India imported gold worth Rs 3.8 lakh crore in 2023-24, which was 30% more than in 2022-23. India buys most of the gold from Switzerland, followed by UAE and South Africa. Gold accounts for 5% of the country’s total imports. Gold demand is expected to increase by up to 40% in the second half of this year.
Gold rate in neighboring country
The price of gold in China is the lowest among our neighbouring countries, where the average price of 24 carat gold is Rs 67,737 per 10 grams. Gold is Rs 68,272 in Pakistan, Rs 68,281 in Sri Lanka, Rs 68,292 in Nepal, Rs 68,297 in Bangladesh and Rs 1,02,138 per 10 grams in Myanmar.
