Gold prices in Pakistan are about 20,000 rupees cheaper than in India. Let's explore the price difference between 22-carat and 24-carat gold in Pakistan and India, and whether gold can be imported from Pakistan to India.

Gold Price in Pakistan: Gold is cheaper in Pakistan than in India

How can we talk about buying gold without mentioning its price? Gold prices in India are constantly in the news, but this time, a news story from neighboring Pakistan is drawing attention. Media reports indicate that Pakistani gold is about 20,000 rupees cheaper than Indian gold.

This begs the question: why is there such a difference in gold prices between India and Pakistan, and what is the price of 22-24 carat gold? Here you can find the answer to this question, as well as whether gold can be imported from Pakistan to India.

What is the price of gold in Pakistan?
According to media reports, on November 4th, the price of 24-carat gold in Pakistan was 413,550 Pakistani rupees per tola. Meanwhile, the price of 22-carat gold was 379,088 Pakistani rupees per tola.

It should be noted that in Pakistan, gold prices are quoted in tolas (1 tola) equal to 11.66 grams. In India, gold prices are quoted in 10 grams.

What's the difference between India and Pakistan?
Converting Pakistani gold prices to Indian rupees and comparing them to Indian prices, gold in Pakistan is cheaper by approximately 20,000 rupees. However, the price of gold may vary slightly depending on the carat and weight, and the figures are subject to change.

Why is gold cheaper in Pakistan?
The international price of gold is largely influenced by the same market, but the price a consumer receives in each country can vary depending on local currency values, import duties, taxes, and market conditions.

The exchange rate between the currencies of India and Pakistan also affects the comparison. Furthermore, gold buying and selling regulations and local market costs may differ in both countries. Therefore, just because gold appears cheaper in Pakistan on one particular day does not mean that it will always be available at a lower price there than in India.

Can Indians buy cheap gold from Pakistan?
Indians can also buy gold from Pakistan if they follow customs rules and procedures. However, there are certain conditions for bringing gold to India. For example, you must have lived in Pakistan for at least six consecutive months. Furthermore, women can bring up to 400 grams of gold jewelry, and men up to 20 grams.

However, gold biscuits, bars, or coins cannot be imported duty-free. They incur a hefty customs duty. Furthermore, if you bring in even one rupee more than the permissible limit, you must submit a written declaration in the red channel at the airport or border.