Price of Gold in Dubai and India

May 29, 2006 9:20am CST
Sir/Madam, I would like to know why there is reportedly a huge difference in the price of Gold in Dubai and India, as a result of which many persons coming to India prefer to visit Dubai, purchase Gold at cheaper rate & within permissible quantities for import into India and trade it later at higher price. Can anybody explain this phenomenon? Govardhana Myneedu