Even today, gold is counted among the safest investments in the world. When a person is in trouble, the gold he has at home guarantees financial help like an elder brother. You know all these things, but do you know what the price of gold is in the neighbouring country of India? This is what we are going to tell you in today’s story.
Cheap gold is available here.
In recent 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 only 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 our neighbouring countries except Myanmar. Gold prices in Pakistan, China, Bangladesh, Nepal and Sri Lanka are lower than in India.
Demand continues to increase
Although gold in India is more expensive by about Rs 3,800 per 10 grams on the international market, the demand for gold is increasing here. According to a report by the World Gold Council, gold consumption in India could reach 850 tonnes this year, 13% more than last year. Last year, 750 tonnes of gold were sold on the domestic market. According to the World Gold Council, the main reason for the increase in gold demand is the increase in the population and income of the Indian population. In addition, gold remains a safe investment vehicle for many investors.
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What does the report say?
According to data from the Ministry of Commerce, India imported gold worth Rs 3.8 lakh crore in 2023-24, up 30% from 2022-23. India buys the largest amount of gold from Switzerland, followed by the UAE and South Africa. The share of gold in the country’s total imports is 5%. Demand for gold is expected to rise 40% in the second half of this year.
Gold price in the neighboring country
Gold price 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 priced at 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.
