Is Gold Cheaper in Dubai, India or Canada? (2026)

Key takeaways

UAE: investment gold of 99% purity is zero-rated for VAT; jewellery has 5% VAT. Tourists can claim back 85% of the VAT, minus AED 4.80 per tag, at participating shops.
India: import duty on gold rose from 6% to about 15% on May 13, 2026, according to news reports; GST on jewellery bought from a jeweller is 3% of the full price, making charges included.
Canada: gold jewellery is generally subject to GST/HST (13% HST in Ontario). Bars and coins of 99.5% gold follow different GST/HST rules.
Making charges often matter more than tax. Compare the price of the gold and the making charge separately.
Bringing gold back to Canada: declare it. The duty-free personal exemption is CAN$800 after 48 hours away.

Is the gold price really different in each country?

The price of pure gold is set on world markets in US dollars. Converted at the day’s exchange rate, the base price is about the same in Toronto, Dubai and Mumbai. You can see the local rates side by side on our gold price in Dubai and gold price in India pages.

What you pay at the counter adds four things:

Import duty, if the country taxes gold coming in. India does; the UAE and Canada mostly do not on investment gold.
Sales tax: VAT in the UAE, GST in India, GST/HST in Canada.
Making charges on jewellery: the jeweller’s fee for design and labour, often quoted per gram or as a percentage.
Purity. Dubai and India sell a lot of 22K (91.6% gold) and 24K (99.9%). Canadian shops sell much more 10K (41.7%) and 14K (58.5%). Always compare the price of the pure gold inside.

How is gold taxed in Dubai and the UAE?

The UAE’s standard VAT rate is 5%. The UAE Ministry of Finance lists “certain investment grade precious metals (e.g. gold, silver, of 99% purity)” as zero-rated. So qualifying gold bars and coins have 0% VAT. Gold jewellery is charged 5% VAT.

Tourist VAT refund. Visitors can claim back VAT on purchases at participating shops. The UAE government portal (updated March 30, 2026) says:

You get 85% of the VAT paid, after a fee of AED 4.80 per tax-free tag.
You must spend at least AED 250 at the shop.
You must validate the purchase at the airport within 90 days, and have the goods with you when you leave.

Ask the shop before you pay whether your item is part of the scheme. On 5% VAT, a refund of 85% means you get back about 4.25% of the pre-VAT price, minus the tag fee. For travel rules on the UAE side, see carrying gold to Pakistan, Bangladesh and Dubai.

How is gold taxed in India in 2026?

Import duty. According to news reports of customs notifications dated May 12, 2026, India raised the effective import duty on gold and silver from 6% to about 15% from May 13, 2026. An August 2026 news report of a Lok Sabha reply by the Minister of State for Finance gives the same rates. We could not open the official notification text, so check the current rate with Indian Customs (CBIC) before you rely on it. Duty on imported gold feeds into the gold rates quoted in Indian shops.

GST. When you buy ready-made jewellery from a jeweller, GST is 3% of the full price, including the making charge, according to the CBIC gems and jewellery FAQ as summarised by Indian jewellers. A separate 5% rate applies to job work, where a goldsmith is paid only to make or remake gold supplied to them. Check your bill: it should show the gold value, the making charge and the GST.

Hallmarks. Look for the BIS hallmark with the purity, such as 22K916.

India changes its gold duty from time to time. Check again close to your trip.

How is gold taxed in Canada?

Canada does not have a gold import duty built into shop prices the way India does. Sales tax depends on what you buy:

Jewellery: the CRA says karat gold jewellery does not meet the “precious metal” definition, so it is generally taxable. You pay GST or HST at your province’s rate, for example 13% HST in Ontario, or 5% GST plus 7% PST in British Columbia.
Bars and coins: a bar, ingot, coin or wafer of at least 99.5% gold is a “precious metal” under CRA rules and is treated differently. The rules are technical; see our gold tax guide and ask the seller how tax applies.

Canadian jewellers also add their own markup, which can be large on low-karat pieces. Our jewellery markup calculator shows how much of a price is gold and how much is markup.

Worked example: 10 grams of 22K jewellery

These are made-up round numbers to show how the costs stack up, not today’s prices. Suppose the gold in a 10 g, 22K chain is worth $1,000 at the world price, and the making charge is 10% in each place.

Cost	Dubai	India	Ontario
Gold value	$1,000	$1,150 if the full 15% duty is in the local rate	$1,000
Making charge (example 10%)	$100	$115	$100
Tax	5% VAT on the total: $55	3% GST on the total: $37.95	13% HST on the total: $143
Total	$1,155 (about $1,110 after a tourist refund)	about $1,303	$1,243

In this example Dubai is cheapest. But the Indian local rate does not always carry the full duty, and real making charges range widely. A 20% making charge in Dubai versus 8% in Canada could flip the result. Ask every shop for the gold rate per gram, the making charge and the tax, written separately.

What about bringing the gold home to Canada?

Cheap gold abroad is only a saving if you bring it home properly.

Declare it. The CBSA says returning residents can bring goods worth up to CAN$200 after 24 hours away, and up to CAN$800 after 48 hours or 7 days, without duty and taxes. You cannot combine exemptions. Above that, duty and GST/HST can apply. Details in bringing gold jewellery into Canada.
Jewellery you take out. The CBSA suggests travelling with as little jewellery as possible, and carrying an appraisal and dated photo, validated at a CBSA office before you leave, for pieces you own.
Going to India? India’s baggage rules limit duty-free jewellery and give no allowance for bars or coins. See how much gold you can carry to India and the carry limit checker.

To compare a shop’s quote with the gold inside, use the jewellery markup calculator, then check today’s gold price in Dubai in dirhams and Canadian dollars.

Common questions

Is gold cheaper in Dubai than in Canada?

Often, for investment gold: the UAE charges 0% VAT on gold of 99% purity, and the base gold price is the same worldwide. For jewellery, Dubai charges 5% VAT and making charges vary, so compare the full bill. Declare what you bring back to Canada.

Why is gold expensive in India?

According to news reports, India raised its import duty on gold from 6% to about 15% on May 13, 2026, and duty feeds into local prices. On top, buyers pay 3% GST on jewellery, making charges included.

Can tourists get VAT back on gold in Dubai?

Yes, at shops in the UAE tax-free scheme. You get 85% of the VAT back, minus AED 4.80 per tag, if you spend at least AED 250 and validate at the airport within 90 days. Investment gold is already zero-rated, so there is no VAT to refund on it.

How much gold can I bring back to Canada duty-free?

Gold counts toward your personal exemption: CAN$200 after 24 hours away, or CAN$800 after 48 hours or 7 days. Declare all gold you bought abroad.

Sources

Checked against these sources on October 24, 2026. Spotted something out of date? Tell us.

Is gold cheaper in Dubai, India or Canada?