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My understanding is that gold and silver have a set value at any given point, but I've been told that it's possible to buy it cheaper in other countries, specifically China.

I can believe this for things like gold jewelry or collectibles, or that the spread might be a bit lower, but I find it hard to believe that I could actually buy gold bullion for cheap in China ($900/oz for example when it's currently $1100 USD), have it mailed to the US, then sell it here immediately for a profit - if it was possible, everyone would do it, right?

Is pure (.999) gold or silver actually available in China for considerably less than the US rate? I don't know enough about global currencies to understand if this is possible.

  • If that is the case what is stopping people from buying gold in China and selling it in the US ? That is a arbitrage and if any exists it will be exploited immediately to profit from it. – DumbCoder Sep 26 '15 at 13:39
  • That was my argument, but she was so adamant, I wanted to be sure. Like maybe it was illegal, or required a license, or was subject to some special tax or something. But it sounds like she was just plain misinformed. Or maybe she is talking about buying fake gold coins, which I absolutely believe are available in China on the cheap. – Curious Investor Sep 26 '15 at 15:48
  • Who is she ? Are you being primed to be scammed ?? – DumbCoder Sep 26 '15 at 17:04
  • @DumbCoder Nah, it's my wife's family from China, and I think they're just confused on real pure gold vs. just plain stuff, which really can be a lot cheaper there. – Curious Investor Sep 26 '15 at 18:27
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Why would someone sell it for less then the world market price? Either the purity is questionable, or it's a scam.

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Is pure (.999) gold or silver actually available in China for considerably less than the US rate?

No. Whoever told you that is talking nonsense.

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