Gold is a precious metal with cultural and investment significance. People buy gold for investment, cultural reasons, and adornment.
However, gold prices vary due to factors like taxes, import duties, and market demand. Because of this, some countries have become hubs for gold purchases, offering lower prices.
In India, gold is especially significant and plays a crucial role in weddings and festivals. As of February 2026, the price of 24K gold in India is ₹154,931.43 per 10 grams, while 22K gold costs ₹142,020.47 per 10 grams.
In this article, we'll explore the top 10 countries to buy the cheapest gold in 2026. These countries offer gold at significantly lower rates compared to India.
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List of 10 Cheapest Countries To Buy Gold in 2026
India's gold prices are currently high at about ₹154,931.42 for 24K and ₹142,020.47 for 22K per 10 grams. Some countries provide cheaper options because of lower taxes and premiums.
According to reports and trusted gold websites, here's the list of the top 10 countries to buy the cheapest gold in 2026. The list includes:
| Rank | Country | 24K (10g Local) | 24K (10g INR) | 22K (10g Local) | 22K (10g INR) | Savings vs India (24K INR) |
| 1 | UAE (Dubai) | AED 2,380 | ₹1,26,984 | AED 2,200 | ₹1,17,531 | ₹28,046 |
| 2 | Hong Kong | HKD 8,390 | ₹1,10,000 | HKD 7,750 | ₹1,01,500 | ₹45,030 |
| 3 | Switzerland | CHF 87 | ₹9,378 | CHF 80 | ₹8,630 | ₹45,652 |
| 4 | Singapore | SGD 157 | ₹1,06,700 | SGD 145 | ₹98,300 | ₹48,330 |
| 5 | Turkey | TRY 4,397 | ₹1,09,200 | TRY 4,050 | ₹1,00,600 | ₹45,830 |
| 6 | Indonesia | IDR 1,650,000 | ₹1,07,500 | IDR 1,520,000 | ₹98,800 | ₹47,530 |
| 7 | Thailand | THB 29,000 | ₹1,10,500 | THB 26,800 | ₹1,02,000 | ₹44,530 |
| 8 | Qatar | QAR 438 | ₹10,650 | QAR 403 | ₹9,800 | ₹44,380 |
| 9 | Malaysia | MYR 529 | ₹11,275 | MYR 488 | ₹10,400 | ₹43,755 |
| 10 | Saudi Arabia | SAR 880 | ₹1,12,000 | SAR 810 | ₹1,03,200 | ₹43,030 |
Note: Prices may vary. Data is accurate as of February 4, 2026.
1. UAE (Dubai)
Dubai is renowned for its tax-free gold shopping, with 24k gold priced at approximately 594.03 AED per gram and 22k gold at 549.99 AED. The city's famous Gold Souk offers a vast selection of gold products at prices closely linked to international rates. The absence of taxes and duties makes Dubai a favoured destination for gold buyers seeking high-quality products at competitive prices.
2. Hong Kong
In Hong Kong, 24k gold is priced around 1,226.4 HKD per gram. Hong Kong's status as a major financial hub, coupled with the absence of VAT, or sales tax on gold, keeps prices competitive. The city's reputable gold shops, such as Chow Tai Fook and Luk Fook, offer a wide selection of high-quality gold items.
3. Switzerland
Gold in Switzerland is priced at 121.99 CHF. Switzerland's status as a global financial centre and its strong currency, the Swiss Franc, influences gold prices. The Swiss National Bank's monetary policies and the country's role as a safe-haven asset for investors also affect gold trading and pricing.
4. Singapore
Singapore, priced at 199.73 SGD, stands out for its favorable tax policies. Investment-grade gold is exempt from the Goods and Services Tax (GST), making it cheaper than in countries with such taxes.
This comes from top-notch vaults for storage. Singapore's reputation for financial stability, secure storage facilities, and a robust legal framework also makes it a preferred location for investors and gold traders.
5. Turkey
Turkey offers 24k gold at approximately 6,830.64 TRY per gram. The country's rich history in gold craftsmanship and its strategic position as a bridge between East and West contribute to its vibrant gold market. Istanbul's Grand Bazaar is a renowned destination for gold buyers, offering a wide range of products
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How Does India's Gold Price Compare to Other Major Gold-Buying Countries?
As of February 2026, gold prices in India are experiencing an downward trend. Here's a comparison of India's gold prices to other major gold-buying countries, based on recent data:
Recent Gold Rates in India (February 2026):
- 24K gold: ₹15,493.14 per gram or ₹154,931.42 per 10 grams
- 22K gold: ₹14,202.05 per gram or ₹142,020.47 per 10 grams
Comparison with other countries: A direct comparison of gold prices in other major countries as of February 2025 is not available in the search results. However, one source provides today's 24-carat gold rate in major countries (1 gram):
- Bahrain: ₹14,573
- Kuwait: ₹14,850
- Malaysia: ₹14,754
- Singapore: ₹14,111
- United Arab Emirates: ₹13,940
- United States: ₹14,252
Factors Affecting Gold Prices in India:
- Global gold rates: Influenced by international market trends and the strength of the US dollar.
- Rupee-dollar exchange rate: A weaker rupee increases import costs, raising domestic gold prices.
- Government policies: Import duties and taxes can significantly impact the final price of gold.
- Inflation: Gold is often seen as a hedge against inflation, leading to increased demand and higher prices during economic instability.
- Seasonal demand: Demand surges during festivals and weddings, affecting market supply and prices.
- Geopolitical factors: Political instability and global conflicts increase gold's appeal as a safe-haven asset, driving up prices.
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