Udisha
Switzerland
This country is known for gold refining and has close relations to the international bullion market. Being a major centre of global finances, Switzerland offers really competitive gold prices, making it among the countries with cheapest gold prices.
Colombia
As one of the top gold producers in South America, this country has a rich history of gold mining and the industry has been there since pre-colonial times. Since gold is mined locally, expensive imports and taxes can be avoided, leading to considerably low gold prices.
Indonesia
This country also has vast gold reserves, the fourth-largest in the world, making it one of the leading producers of gold. The endless local supply and a very competitive market keeps gold prices very low.
Hong Kong
With prices very close to global spot rates, this country has a duty-free gold market and highly competitive pricing. Also a key trading hub in Asia, Hong Kong is definitely among the top countries where gold is cheap.
Dubai (United Arab Emirates)
The "City of Gold," Dubai is where many people from around the world, especially Indians fly to purchase gold. The city offers reasonable rates due to low taxes on gold, and extremely low import duties. There was no VAT charged on gold until very recently.