Gold is one of the very few items that has retained its lustre even after all this time. Investing in gold is considered a good decision almost everywhere in the world for all sorts of reasons. Some buy gold as an investment, some wear it as ornaments, some to secure their futures, and others gift it to loved ones.
People in India are all in when it comes to buying gold, especially in times of festivities like Dhanteras and Diwali. So, it’s very likely that you would want to buy gold at the cheapest prices possible. To help you with the same, we have procured a list of the 6 best places all across the world that offer the cheapest gold prices.
Gold Price Comparison to buy cheapest gold in the world
|Sl. No.||City Name||22 Karat Gold Price (per 1 gram)||24 Karat Gold Price (per 1 gram)|
|1.||Dubai||INR 4,131.60||INR 4,399.50|
|2.||Hong Kong||INR 3,947.30||INR 4,306.10|
|3.||Bangkok||INR 3943.90||INR 4,302.40|
|4.||Cochin||INR 4,550||INR 4,778|
|5.||Zurich||INR 3,949.10||INR 4,307.90|
|6.||Marrakech||INR 3,714.69||INR 4,052.69|
6 Best Places to Buy Gold in the World at Cheap Prices
1. Dubai, UAE
Dubai started off as a famous place for trading gold, but now it has transformed into one of the top-notch places for selling gold. So much so, that today people think of gold when they hear Dubai. The hub of selling gold in Dubai is the Gold Souk quarter, located in Deira. This place usually attracts huge crowds in times of festivities and often displays gold in an elaborative way.
The shop windows all along the streets display gold ornaments and you will be left spellbound looking at it all. You can buy pure gold here at a really good price in Dhanteras and Diwali. Also, they have amazing and intricate designs of gold jewelry. One tip would be to bargain and making rounds in a couple of stores before buying anything.
Where to buy gold: Dubai Gold Souk, The Gold and Diamond Park, Joyalluas, Malabar Gold, and D’damas
2. Hong Kong, China
Hong Kong is a place where you can get your hands on some amazing deals no matter what. Besides, it is also one of the best places to buy gold. You’ll get gold at pretty reasonable prices here in Diwali.
Furthermore, Hong Kong is also known for being one of the busiest active gold trading markets worldwide. A striking fact to keep in mind is that this place is a price setter of gold for all other places across the world. So, buying gold in Hong Kong could make you very beneficial indeed.
The goldsmiths in Hong Kong are famous for their innovative designs. Also, you can have them make customized designs, and this way you won’t necessarily have to buy off-the-shelf jewelry. Keep in mind that whenever they say ‘Chuk Kam’, it means the gold they are showing is 99% pure or more.
Where to buy gold: Luk Fook Jewellery, Chow Sang Sang, Chow Tai Fook
3. Bangkok, Thailand
Shopping in Bangkok is the ultimate retail therapy you could get. And the experience gets only better since you can enjoy buying gold here at low prices and choose from an array of designs. The Yaowarat Road located in China Town has rows of shops selling gold jewelry with beautiful designs.
But, you should always be cautious while purchasing gold in Bangkok because a lot of shops sell cheap gold. And they also compromise on the quality. However, Yaowarat Road is trusted by many gold shoppers and will cover all your gold jewelry needs. Make sure you visit reputed shops only and not listen to tuk-tuk drivers because they get a commission from all the places they suggest.
Where to buy gold: Hua Seng Heng and Tao To Kang located in Yaoworat Road, China Town
4. Cochin, India
Since gold forms a traditional part of weddings in the South, it is of high importance there. The South-Indian brides are known for getting all decked up in gold and the exchange of gold is also pretty common there.
Gold is one of the most usual forms of investment in Kerala and is required on several festive occasions like weddings. And for the same reason, gold is bought and sold in heavy quantities in festive times like Dhanteras. Also, Kerala has more people exchanging their gold and fewer people buying new ornaments. So, you could have something new for your old gold jewelry.
Where to buy gold: Malabar Gold, Joyalluka, Bhima Jewels, Malabar Gold and Diamonds
5. Zurich, Switzerland
Switzerland is famed for a lot of things such as designer watches, food, chocolates, and more. But, many people might not know that this is one of the best places in entire Europe to buy gold at cheap prices. The well-known Swiss bank accounts store stacks of gold. And since this is a tax-haven, many Indians along with Europeans buy gold from here.
You could buy gold bars or even gold jewelry in Zurich, Switzerland. Also, this place houses some of the very experienced craftsmen who carve out exquisite and intricate designs. While you’re on your gold buying spree in Zurich, do not forget to visit Bahnhofstrasse. This is the main downtown street of Zurich and a great place to get gold watches, eyewear, and other accessories.
Where to buy gold: Tiffany and Co, Cartier, Bucherer, Bulgari, Chopard
6. Marrakech, Morocco
This is one of the very popular tourist destinations that Indians love visiting, especially around Dhanteras. The reason being that this place is famous for jewelry shopping. This place is home to amazing gold artisans and you can buy gold directly from them without having any middle man involved. You will find several souks in the city to shop gold from. Most of the gold here is sold in the Jewish area of Marrakech that goes by the name of Mellah.
Where to buy gold: Khalid Art Gallery, Joanna Bristow, Gallerie Al Yel, Jewels
With that, we conclude our blog listing the best countries to buy gold at cheap prices. So, now when you embark on a big trip, you can pinpoint these locations in your travel bucket list and incorporate gold shopping into your itinerary.
There’s no denying the fact that gold is one of the best ways to insure your wealth. These can help you thrive in tough times like inflation, hold your Savings, and much more. Hence, we hope that knowing about the top places to buy gold in the world will help you a great deal.