Pakistan's listed gold prices converted to Indian rupees were lower than Dubai's on Tuesday, Nov. 3, while India had the highest quoted rates, offering buyers a comparison across the three markets.
GoodReturns listed India's 24-karat gold at ₹13,964 per gram and its 22-karat gold at ₹12,800. The site says it compiles the India figures from jeweller rates nationwide and excludes GST, TCS and other levies.
Investify reported Pakistan prices of PKR 353,340 per 10 grams for 24-karat gold and PKR 323,906 for 22-karat. Converted using a PKR/INR rate of 0.342437, the figures equal about ₹12,100 and ₹11,092 per gram, respectively.
Dubai Gold & Jewellery Group's latest listed prices were AED 473.25 per gram for 24-karat and AED 438.25 for 22-karat. The listing was posted at 10:50 a.m. ET (15:50 UTC), or 7:50 p.m. Gulf Standard Time. At an AED/INR rate of 25.7705, the prices convert to about ₹12,196 and ₹11,294 per gram. Gulf News' historical table lists AED 478 and AED 442.50 for Monday, Nov. 2.
GoodReturns' separate Pakistan listing showed PKR 35,280 per gram for 24-karat and PKR 32,338 for 22-karat, with its own rupee equivalents of ₹12,085 and ₹11,077. Those figures also put Pakistan below Dubai, though they differ from the rates Investify reported.
The price sets represent different kinds of quotes: jeweller rates for India, group reference prices for Dubai, and Sarafa rates reported by Investify for Pakistan. XE's AED/INR quotation was taken at 8:54 a.m. ET (13:54 UTC), while X-Rates' PKR/INR quotation was taken at 8:16 a.m. ET (13:16 UTC). The conversions are indicative; retailers or currency providers may offer different rates, and taxes, making charges and customs costs can affect a buyer's final bill.
The Central Board of Indirect Taxes and Customs (CBIC) says eligible Indian-origin or Indian-passport passengers who have stayed abroad for at least six months may import up to one kilogram of gold under conditions that include paying duty in convertible foreign currency. EconoTimes has previously outlined India's customs rules for returning travelers.
