Gold Price in India vs Pakistan: Which Is Cheaper?

The table below shows both countries' rates per gram in local currency and in US dollars, so you can compare like with like. In dollar terms, Pakistan's rate is usually slightly lower than India's — because India's 6% import duty is baked into the Indian rate, while Pakistan's sarafa rate tracks the spot price more closely.

In local currency terms the comparison is meaningless without conversion, because the rupee's value differs between the two countries. Always compare in US dollars per gram — that strips out the exchange rate and shows the real difference, which is mostly tax.

India charges 6% customs duty on gold imports (cut from 15% in July 2024) plus 3% GST on the gold value and 5% GST on making charges. The duty is already inside the IBJA rate, so you never see it separately — but it adds roughly 6% to the price Indian buyers pay over the straight international conversion.

Pakistan's gold rate is set by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA) from the international spot price and the USD/PKR exchange rate, and is published daily by sources such as HamariWeb. Pakistan does not layer an equivalent import duty and GST combination onto the retail gold rate in the way India does, which is the main reason Pakistan's dollar-denominated rate runs lower.

Pakistan quotes gold per tola (11.6638 grams) first — the tola is the unit of the sarafa market, and per-gram prices are derived from it. India quotes per 10 grams first, following the IBJA benchmark, with per-gram prices alongside. Both markets also quote per gram and per ounce for comparison.

When comparing the two, convert to a common unit — per gram in US dollars is the cleanest. The table on this page does exactly that, so you can see the real gap without doing the arithmetic.

In India, buy from BIS-hallmarked jewellers in the big chains (Tanishq, Kalyan, Malabar) or established local shops; hallmarking is mandatory for gold jewellery, and the BIS mark is your guarantee. Making charges are negotiable and vary widely — compare them, because they are where you win or lose money.

In Pakistan, buy from established sarafa-market jewellers in Lahore, Karachi or Rawalpindi/Islamabad, and ask for the day's APGJSA rate before you buy. Making charges are negotiable in the bazaar tradition, and the jeweller's reputation matters more than any certificate — buy from shops with a long local history.

In US-dollar terms, Pakistan is usually slightly cheaper per gram, because India carries 6% import duty plus GST that Pakistan does not. But the gap is not large — a few percent — and it is not a reason to cross a border to buy gold: customs rules, travel costs and the risk of carrying gold across a border wipe out any saving.

The real lesson is about tax, not geography: India's gold costs more because India's government taxes it more. If you live in India, the duty and GST are the price of the market you are in — and the way to save is on making charges, not on the metal.