Gold is cheaper in Dubai than anywhere else: Here's why

1 of 15 Customers at the Gold Souq in Deira, Dubai, in awe of the yellow metal trade in the city. Many customers find that Dubai gold prices are about 15% cheaper than other countries, including India. Image Credit: Atiq Ur Rehman /Gulf News 2 of 15 In Dubai there is no import duty tax on raw materials like gold bars and TT bars. Shamlal Ahmad, Managing Partner of Malabar Gold, explained that because of this, traders are able to bring in the precious yellow metal from anywhere in the world, tax free. Image Credit: Clint Egbert / Gulf News 3 of 15 Tourists visiting the Gold Souq in Deira, Dubai. The insurance cost for holding gold stock in Dubai is cheaper than the...