Probably a dumb question..

Discussion in 'Bullion Investing' started by Detecto92, Oct 10, 2012.

  1. Detecto92

    Detecto92 Well-Known Member

    I know little about PM trading...

    However, are the prices of precious metals different in every country? Could one say, buy an ounce of gold for $1500 in one country, then sell it here for $1800?
     
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  3. andrew289

    andrew289 Senior Analyst

    The prices of precious metals are different in every store within the US. Different sellers sell for different prices no matter what country you are in. Now are you importing it by mail or using a mule to hand carry it accross international borders. Are you claiming it at entry through customs or are you smuggling it in through your checked baggage?
     
  4. desertgem

    desertgem Senior Errer Collecktor Supporter

    Spot price for commodity metals are denominated in USD world wide, so if the person selling in a foreign country consulted the markey value, it would be in USD or USD price converted to local currency, so nothing would be gained, but probably some lost in conversions, etc. Many countries have an official exchange rate and a blackmarket rate.
     
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