Is gold the same equivalent value in other countries?

Question

For example, if gold costs 900 dollars an ounce in the USA, and i want to buy gold in another country with a weaker currency, would i have to spend the equivalent of 900 US dollars in that foreign currency to buy one ounce of gold?

Answer 1

Yes.  In these days of the global economy,  the price of gold is remarkably similar wherever it is freely traded.  Otherwise, as someone else mentioned, we would go buy it wherever it was cheapest and sell it wherever it was most expensive.

You can track the price of gold in multiple currencies online here:

http://www.kitco.com/market/

Grandpa

Answer 2

Basically yes but there may be differing transactions costs associated with it.  The only other exceptions would be places with conflicts going on that we don't freely trade with.  Any normal cases see all the price differences arbitraged out almost immediately.

Answer 3

For the most part, yes. If there was a difference, traders would certainly take advantage of these and the prices would soon change to return to a fair state.