Small correction. The price shown on video in AED, 217 is of 24k. For 22 it is 204.5. The difference would be ₹257 only. Which is hardly 5% in difference. The conclusion of the video still remains the same that buying raw gold or SGB in India is better. Sorry for the mistake.
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⚱️Our experience of buying Gold from Dubai
‼️Let us clear a couple of Rules you should be aware of before buying Gold from any international country -
✅A man travelling from an International country to India can carry a maximum of 20 gms of gold with him. Meanwhile, a woman can carry a maximum of 40 gms of gold with her.
✅You can not bring a gold coin, gold biscuit, or gold bar within the allowance limit. The allowance remains available only for gold jewellery/ornaments.
I visited Gold shops at Meena Bazaar, Dubai on 04th December, 2022
💰The rate of Gold in Dubai on that date was 204.5 AED (204.5 x 22.5 = ₹4601)
💰The minimum making charges on gold chains were flat 6%
💰Add 5% VAT (Refundable at Airports)
💰The net price of 1gm Gold was ₹4877.
💰If someone is looking to buy Gold from Dubai as an investment then buying Gold Jewellery or ornaments (which is only allowed by Customs) will be equal to buying Raw gold (In the form of coins, bar or biscuit) in India.
👉Hence if you are looking to make investment in Gold. Sovereign Gold bonds are the best in India. You can even get ₹50 per gram discount if you buy them online which pays 2.5 interest as well.
👉However, if you are planning to buy Gold as a jewellery item and not investment then definitely the cost is 10-20% cheaper in Dubai compared to India.
❓❓By the way, how have you invested in Gold? Let us know in the comments