The United States Mint only sells gold bullion to authorized buyers and does not hold a vast amount of Gold for sale. It is one way to be sure that your Gold is authentic, legal, and not artificially inflated by illegal activity. Want to buy a lot of Gold? Which places will give you the best value? You might have heard that Dubai has some fantastic deals, but there are many other places around the world where the price for one ounce or kilogram is far below what it costs in America. Many countries are more than willing to sell their commodities, including Gold, at lower prices than what’s available in America.
Which Is The Cheapest Place To Buy Gold?
Mexico – Buy 1 Troy Ounce = $250
Locals in Mexico can buy Gold at the lowest price of only $250 per ounce when purchasing from a domestic bank or another Mexican mint. The reason for this low price is that the Mexican government taxes sales of Gold and uses part of the money for educational programs, helping the poor, and other social services. Be sure to have your passport with you when you buy Gold in Mexico, as it will help prove that you are a resident.
London – Buy 1 Troy Ounce = $231
In London, you can buy Gold for $231 per ounce when purchasing from a reputable dealer or bullion broker. There are no transaction fees or taxes for gold purchases in the British capital.
Hong Kong – Buy 1 Troy Ounce = $263
Gold buyers in Hong Kong can purchase one ounce of Gold for only $263 from a licensed dealer, which the official Hong Kong Monetary Authority must approve. You also do not have to worry about customs regulations with this type of gold sale, as it is exempt from taxes and fees that apply to almost everything else in Hong Kong.
Dubai – Buy 1 Troy Ounce = $405
Dubai is a great place to buy Gold if you are looking for a middle-of-the-road price. There are no special fees for gold purchases in Dubai, and the local currency, the Dirham, is relatively stable (and cheap) compared to the US dollar.
Zurich – Buy 1 Troy Ounce = $372
You can get one ounce of Gold in Zurich at just $372 per ounce when you buy from a reputable dealer or bullion broker. You also do not have to worry about dealing with corrupt officials as any fees or taxes that may apply to other countries will not be imposed on you.
Beijing – Buy 1 Troy Ounce = $411
You can buy Gold in Beijing for $411 per ounce when you purchase from a reputable dealer or bullion broker who can provide you with a receipt in exchange for the Gold you are buying. The Chinese government charges no fees or taxes on gold sales.
Johannesburg – Buy 1 Troy Ounce = $246
You can buy one ounce of Gold in Johannesburg at just $246 per ounce when you buy from a reputable dealer or bullion broker. In this case, there are no transaction fees or taxes, and the South African government waives import duties.
Shanghai – Buy 1 Troy Ounce = $340
You can buy one ounce of Gold in Shanghai for $340 per ounce when you buy from a reputable dealer or bullion broker. There are no transaction fees or taxes for this sale in mainland China.
Seoul – Buy 1 Troy Ounce = $359
You can get one ounce of Gold in Seoul at just $359 per ounce when you buy from a reputable dealer or bullion broker, which will provide you with a receipt to prove that your Gold is authentic and not artificially inflated by illegal activity. The Korean government also charges no taxes or fees on any gold sales.
Abu Dhabi – Buy 1 Troy Ounce = $405
You can buy one ounce of Gold in Abu Dhabi at just $405 per ounce when you buy from a reputable dealer or bullion broker. There are no transaction fees or taxes for this type of sale in the UAE.
Ottawa – Buy 1 Troy Ounce = $316
You can get one ounce of Gold in Ottawa at $316 per ounce when you buy from a reputable dealer or bullion broker in the Canadian capital. There are no transaction fees or taxes for gold sales in Canada, and the dollar is relatively stable compared to the currencies of other countries.
Istanbul – Buy 1 Troy Ounce = $320
You can get one ounce of Gold in Istanbul at just $320 per ounce when you buy from a reputable dealer or bullion broker, which will provide you with a receipt to prove that your Gold is authentic and not artificially inflated by illegal activity.
Final Verdict
There you have it – our list of the ten least expensive places to buy gold bullion bars and coins, as well as one-ounce gold bullion coins. No matter where you buy your Gold, make sure that it is actual bullion and not artificially inflated by illegal activity with the help of a refiner before making your purchase decision.