Is the price of gold different in other nations?

Question

Where can you buy gold for the lowest price or is there some kind of set price?

Answer 1

the global financial market sets the price through a global network of commodity exchanges. on the streets, though, the shops dictate the physical value of gold. therefore, if one doesn't know the spot price of gold in the world market, he/she is gullible to being scammed on the streets by shop owners. a good example of these people are those buying wedding rings in jewelry stores.

physical gold can be bought lowest at pawn shops in developing (formerly called 3rd world) nations where discounts can be asked. there is no "lowest price" in the global financial market as the price of gold continually moves every second, 5 days a week.

one of the sites you can check out for the spot price of gold is http://bloomberg.com. look at the right column and scroll down to "COMMODITY FUTURES". gold price is measured per ounce (oz).

Answer 2

by MCX