Is it cheaper to buy gold jewellery in India or Dubai?

If you are going to buy gold bar, I think whether you purchase it from India or dubai doesnt matter as the price would be same. And the quality will also be same as in india also 99.9% purity gold bars are available with certification. Then what is the purpose of buying it in dubai and then selling in India. Plz clarify if I am wrong.

 

hi kanchanbish,
As far as I know...The purity of dubai gold is better than that of INDIA'z. and the price is also relatively cheaper.
And back in India, Once we went to exchange the gold they said u wud have got a better rate if it was a bar..

 

With my personal experience I am saying that the price of gold bar is almost same here and india. And in india also the gold bar comes with purity certification. So i dont understand what is the difference. In case of gold jewellery I would definitely say that its better here then india in terms of design and purity.

 

hi kanchanbish,
as mefatima and other ladies had mentioned, gold bars are of better quality in dubai. ofcourse, now in india you get good quality in "certain" places and not in all places still.
also normally NRIs don't convert their entire earnings to indian currency. almost all of them, reserve some to take home as gold bars. there is some cleverness in this, which i am myself trying to find out.
it is not a compulsion that you need to buy gold bars from gulf and make jewellery in india. you can make jewellery directly in india itself. but for those who want to buy gold on occassions in the place where they are staying, they can opt to buy gold bars. and also prices of gold never remains the same. such people buy bars when the rates might be better and when they visit india they can make jewellery by selling the bars.

gold jewels might be more pure in gulf but they are more fragile compared to jewellery bought in india. again this is due to purity....all the mixing ratios of other metals differ from country to country. singapore gold is different from india and gulf.
there are lots of naunces to learn in these fields.....i am also still learning.........so i just tried to convey some.
hope it helps some ladies as well.

 

Hi,
the above posts are really helpful. I am glad i read them. But i have doubt ladies, i have bought few gold bars here in the UK, which are tax free, but Dont know the procedure to take them to India. Could anyone help me on this plz.

 

mam -yes it is cheaper to buy gold in Dubai.
because any gold we but in India comes to to us after paying 3 things:
1) customs duty
2) state taxes
3) VAT.
all these 3 increase the difference between prices in Dubai (or any any country without taxes for that matter) and India. please bear in mind even after discounting the exchange rates between dirham and rupee, customs duty paid at airport- still it makes sense in buying gold at Dubai.
Also for ornaments the making charges in middle east are generally lower compared to India. this point may be debated as some may say that we get better designs in India. As iam a male I cannot comment much on the designs - like which are good,trendy etc.
Another interesting thing to add is : gold prices (for bars even) are higher in the Dubai airport. So will not recommend buying any type of gold in Dubai airport.
hope this helps -else let me know...
-Ralini Pradeep Adatrao

 

Mam (poo243) - i replied to your query in detail, but it says it needs to be vetted by Moderator (because i used post with commenst). If it does not come up- let me know I will repost the comments.

Thanks - Ralini Pradeep Adatrao

 

Watch out there is a new rule which allows NRIs to carry only very little gold in person.
NRIs facing special gold scans at major Indian airports - Emirates 24/7

 

mam - gold bars are of same quality everywhere - ie. even if we buy in a good shop in india or in Dubai souk market etc.
The purity of gold can be tested very quickly everywhere. Its a misconception that the gold you get in Dubai is better, this was true 20/30 years ago. Not now.
When it comes to carat - in gulf we do get 24, 21 carat as well as 18 carat. They will specifically say the carat when you are buying.
In India we get 21 carat gold i.e 916 hallmark certified gold - just check the stamp/engraving for "916 KDM with a triangle symbol". generally ladies miss the triangle symbol when the check - so remember that. Its mandatory India for all gold jewelry to be certified.
let me know if have some more clarifications.
-Ralini Pradeep Adatrao

 

quality and price is better in india than dubai