On October 8, gold prices broke their historic record, soaring above $4,000 per ounce (about Rs3.5 lakh for 28.3gm) for the first time, an incredible 54% increase year-to-date, surpassing even the leading tech stocks and cryptocurrencies. For travelers, this rally serves as a useful reminder to verify local prices prior to purchasing. Whether you’re haggling in a Dubai market, exploring Bangkok’s gold bazaars, or looking for a souvenir from London or Tokyo, purchasing gold can be both an adventure and a financial investment. However, prices, taxes, and import regulations differ significantly.
Guidelines for importing gold into India
The regulations for importing gold into India are intricate, so it is recommended to consult official sources. Generally, a male Indian citizen coming back after being outside the country for over a year can import jewellery weighing up to 20gm or valued at Rs50,000 without incurring any duty. This cap increases to 40gm or Rs1 lakh for female travelers. In certain situations, citizens and individuals of Indian descent are allowed to import up to 1kg of gold into the nation by paying a 6% tax. This includes various warnings: you can find them on the official site of the Director General of Foreign Trade.
Why have gold prices shot up?
Fueled by U.S. tariff threats, escalating geopolitical tensions in the Middle East and Ukraine, and expectations of Federal Reserve rate cuts, investors worldwide are flocking to this timeless safe haven. Central banks, from Poland to Kazakhstan, are stockpiling reserves at record pace, while everyday buyers, from jewellery enthusiasts to cautious travellers, are turning to gold as both a cultural staple and a hedge against inflation. And then, there is the festival of Dhanteras and Diwali, followed by the wedding season, when demand for gold typically shoots up.
Below, we break down current retail prices for 10 grams of 24K gold (as of October 17, 2025) across key destinations, along with customs guidelines for bringing it back to India. Prices are approximate, based on spot markets plus local premiums. Always verify live rates via reliable apps such as Kitco, GoldPrice.org, or local exchanges, as they fluctuate hourly.
United States
Price for 10g (24K): $1,475 (Rs1,30,900)
New York’s Diamond District and dealers like JM Bullion offer coins and bars with modest premiums of 1–5% over spot rates. Demand has surged amid the rally. Travellers returning to India can bring 20g of gold jewellery (up to Rs50,000) duty-free for men and 40g (up to Rs1,00,000) for women, if residing abroad for at least six months. Up to 1kg of gold, in the form of jewellery, bars, or coins, is allowed with a 15.75% duty (customs + GST). Declare all purchases at the red channel with invoices and purity certificates. Avoid gold sourced from sanctioned countries such as Iran.
India
Cost for 10g (24K): Rs1,34,000
In Zaveri Bazaar in Mumbai and Karol Bagh in Delhi, festive demand, particularly during Diwali, causes prices to rise. A 3% GST contributes to increased retail prices. Travellers returning can carry 20g (men) or 40g (women) of regular gold jewellery duty-free, valued at Rs50,000 and Rs1,00,000 respectively, after spending six months overseas. A total of up to 1kg is permitted with a 15.75% tax on the surplus. Report any gold valued at over Rs20,000 along with receipts to prevent confiscation. The import of unrefined bullion is still limited to banks.
Emirates Arabes Unis (EAU)
Cost for 10g (24K): AED 5,400 (Rs1,30,300)
Dubai’s Gold Souk continues to be a popular destination for travelers, showcasing 22K and 24K jewelry at prices close to market rates in tax-exempt areas. Negotiation is common, with small surcharges for skilled work.
Duty-free allowances align with Indian regulations: 20g (for men) or 40g (for women) of jewelry valued at Rs50,000/Rs1,00,000 following six months overseas. Up to 1kg is subject to a 15.75% duty. Report acquisitions at customs with receipts and certificates of origin. Trustworthy vendors in the UAE supply the necessary paperwork, facilitating customs processing in India.
United Kingdom
Cost for 10g (24K): £1,230 (Rs1,47,000)
Hatton Garden in London combines tradition and the bullion market, with investment gold free from VAT. Jewellery styles appeal to international preferences, yet costs indicate the strength of the pound. Duty-free restrictions are enforceable: 20g for males, 40g for females, with a maximum value of Rs50,000/Rs1,00,000 after half a year spent overseas. A maximum of 1kg is allowed, with a 15.75% tariff on any excess. Declare all gold with invoices; assay certificates for bullion or coins are advised. Steer clear of gold from Russia be cause of sanctions.
Japan
Price for 10g (24K): ¥220,000 (Rs1,28,700)
Tokyo’s Ginza district offers minimalist gold jewellery and bullion priced through the Tokyo Commodity Exchange. Japanese craftsmanship adds a modest premium. After six months in Japan, travellers can bring 20g (men) or 40g (women) of jewellery duty-free (up to Rs50,000/Rs1,00,000). Up to 1kg incurs 15.75% duty. Declare gold with invoices and purity assays. Japan’s strict sourcing standards ensure smooth customs clearance in India.
Thailand
Price for 10g (24K): ฿48,300 (Rs1,31,400)
Bangkok’s Yaowarat (Chinatown) is renowned for its 23K gold—slightly less pure than 24K but often cheaper. Prices are updated daily by the Gold Traders Association, keeping the market transparent. Duty-free limits are 20g (men) or 40g (women) (up to Rs50,000/Rs1,00,000) after six months abroad. Up to 1kg incurs 15.75% duty. Declare gold with receipts and invoices. Thai gold’s 96.5% purity requires clear documentation to avoid commercial import scrutiny.
Before You Buy
The price of gold has surged in 2025, making it a tempting travel purchase, but plan ahead. Always buy from reputable dealers, request itemised invoices, and declare high-value gold at India’s red channel. Avoid sanctioned sources such as Russia or Iran. For real-time prices, apps like GoldPrice.org, Kitco, and India’s IBJA are indispensable. With the right paperwork and awareness, your golden souvenirs can return home just as smoothly as your journey.

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