New Delhi: Gold prices continued to differ across major international markets on November 4, 2026, with Pakistan emerging as the cheapest destination for gold buyers among India, Dubai and Pakistan. A comparison of 22-carat and 24-carat gold prices, after converting the rates into Indian rupees, shows that gold is considerably cheaper in Pakistan, followed by Dubai, while India has the highest prices among the three markets.
The price difference is influenced by several factors, including international bullion market movements, currency exchange rates, import duties and domestic taxes. For Indian consumers, the comparison is particularly relevant as gold remains an important investment option and a preferred purchase during weddings, festivals and other celebrations.
According to price data cited by NDTV Profit from Goodreturns, the 24-carat gold rate in Pakistan was approximately ₹12,085 per gram on November 3. Dubai recorded a rate of around ₹12,330 per gram, while India’s price stood at approximately ₹13,964 per gram.
The difference was also visible in the 22-carat category, where Pakistan recorded the lowest price, followed by Dubai and India.
Gold prices in India, Dubai and Pakistan on November 3
The comparison of gold rates across the three markets provides an indication of how much buyers pay for the same quantity of gold in different countries.
The following are the approximate prices per gram after conversion into Indian rupees.
| Country or market | 24-carat gold | 22-carat gold |
|---|---|---|
| Pakistan | ₹12,085 | ₹11,077 |
| Dubai | ₹12,330 | ₹11,415 |
| India | ₹13,964 | ₹12,800 |
The figures indicate that Pakistan offered the lowest gold prices in both purity categories on November 3.
Dubai was the second-cheapest market, with prices higher than Pakistan but lower than India. Indian consumers faced the highest prices among the three locations.
For 24-carat gold, the difference between India and Pakistan was approximately ₹1,879 per gram. For 22-carat gold, the difference was around ₹1,723 per gram.
These differences can become substantial when purchasing larger quantities of gold. However, the figures represent indicative market prices and do not necessarily reflect the final amount payable by a jewellery customer.
Pakistan records the lowest 24-carat and 22-carat gold rates
Pakistan emerged as the cheapest market in the comparison, with 24-carat gold priced at approximately PKR 35,280 per gram.
After conversion into Indian currency, this works out to around ₹12,085 per gram.
The 22-carat gold rate stood at approximately PKR 32,338 per gram, equivalent to around ₹11,077 in Indian currency.
The comparatively lower prices make Pakistan the least expensive market among the three locations based on the November 3 figures.
However, international price comparisons need to be understood in the context of local currency valuations and domestic market conditions. Exchange rate movements can change the converted price even when the local gold rate remains relatively stable.
For Indian consumers, the converted price offers a useful starting point for comparison, but it should not be treated as the final cost of purchasing and bringing gold into India.
Dubai gold prices remain below Indian rates
Dubai continued to offer lower gold prices than India on November 3, although it was more expensive than Pakistan.
The 24-carat gold rate in Dubai increased by AED 11 per gram to reach AED 478. After conversion into Indian rupees, the price was approximately ₹12,330 per gram.
Meanwhile, 22-carat gold recorded an increase of AED 10 per gram, taking its price to AED 442.50. This was equivalent to approximately ₹11,415 per gram in Indian currency.
Dubai is a popular destination for gold purchases among Indian travellers because of its established jewellery market and the availability of different designs and product categories.
The latest figures show that buyers in Dubai could find gold at prices lower than those prevailing in India.
Nevertheless, the difference in the headline rates does not automatically translate into equivalent savings for someone planning to carry gold jewellery from Dubai to India. Additional expenses, including making charges and applicable customs duties, must also be considered.
Indian gold prices increase on November 3
India recorded the highest gold prices among the three markets in the comparison.
The 24-carat gold rate increased by ₹27 per gram to reach approximately ₹13,964.
Similarly, 22-carat gold became costlier by ₹25 per gram, taking the price to around ₹12,800.
The increase reflects the daily movement in domestic gold prices, which are influenced by international bullion trends, currency fluctuations and local market conditions.
Gold prices in India can also differ between cities and jewellery retailers because of variations in local taxes, transportation expenses and other pricing components.
Consumers should therefore check the prevailing rates with local jewellers before making a purchase.
Why do gold prices differ between countries?
Gold is traded internationally, but its retail price is not identical across all countries. Several factors contribute to the differences observed between India, Dubai and Pakistan.
International bullion prices: Gold prices in domestic markets are influenced by movements in international bullion markets. Changes in global demand, economic uncertainty and investor activity can affect the price of the precious metal.
Currency exchange rates: Gold is generally benchmarked internationally in US dollars. Changes in the value of domestic currencies against the US dollar can influence the final price in individual countries.
Import duties and taxes: Countries have different taxation structures and import regulations for gold. These differences can increase or reduce the final retail price paid by consumers.
Jewellery-making charges: The cost of manufacturing jewellery also affects the final purchase amount. Making charges can vary depending on the design, craftsmanship and retailer.
Local market conditions: Demand, supply, distribution expenses and competition among jewellery retailers can also influence gold prices in different markets.
These factors explain why the same quantity and purity of gold can have different retail prices in different countries.
What should Indian buyers consider before purchasing gold abroad?
Although Pakistan and Dubai recorded lower gold prices than India, consumers should not make purchasing decisions based only on the converted per-gram rate.
Indians travelling overseas to purchase gold must consider the customs regulations applicable when bringing gold into the country.
The permitted duty-free allowances, where applicable, depend on eligibility conditions, including the traveller’s circumstances and duration of stay abroad. Purchases exceeding the applicable allowances may attract customs duty and other requirements.
Buyers should also account for jewellery-making charges, applicable taxes, currency conversion expenses and documentation requirements.
Another important consideration is the difference between investment-grade gold and jewellery. A buyer purchasing gold coins or bars may face a different cost structure compared with someone purchasing ornaments.
Hallmarking and purity certification are equally important. Consumers should verify the purity, weight and authenticity of the gold before completing a transaction.
For jewellery purchases, the final bill should clearly indicate the gold weight, purity, making charges and applicable taxes.
Conclusion: Pakistan is cheapest, followed by Dubai and India
The November 3 gold price comparison places Pakistan at the top as the cheapest market among India, Dubai and Pakistan for both 22-carat and 24-carat gold.
Dubai follows Pakistan, while India records the highest prices in both categories.
However, the lower headline prices overseas do not necessarily guarantee greater savings for Indian buyers. Customs regulations, taxes, making charges and other expenses can significantly affect the final cost.
Consumers planning to purchase gold abroad should compare the complete landed cost with domestic jewellery prices before making a decision.