This article discusses the best countries to buy gold, tips for buying precious metals, and which type of gold to purchase or invest in.
Central banks around the world are increasing their gold reserves, with China leading the way. China has been steadily growing its gold reserves since 2015. And it’s not the only country betting on gold.
For thousands of years, people have bought gold as insurance against political and economic instability, hyperinflation, and other unusual government regulations.
Whether you buy investment-grade gold bullion, coins, or jewelry, precious metals in any form are excellent tools for diversifying your investment portfolio and improving its risk/reward profile.
You can find many articles on our website about gold, silver, and other precious metals. However, if you plan to invest in gold, informative articles alone won’t be enough. You need expert assistance tailored to meet your investment portfolio’s specific needs. That’s where we come in.
At Nomad Capitalist, we’ve helped numerous clients identify gaps in their portfolios and determine asset classes that will provide them with the highest return on investment. If you want expert guidance on the best ways to invest, contact us today.
Best Country to Buy Gold
Hong Kong
One of the largest financial hubs in Asia, Hong Kong is considered one of the top countries for purchasing gold. The most recommended place to buy gold in Hong Kong is a bank, as they possess substantial capital and gold reserves, making them an excellent choice for offshore banking.
Hong Kong banks typically offer lower premiums when buying gold, making it advantageous if you are seeking the most affordable option. In addition to online dealers offering various forms of gold such as coins and bars, physically visiting a Hong Kong bank usually provides the best deals when purchasing or selling gold.
Best Countries to Buy Gold
United Arab Emirates
When it comes to company formation, asset classes, or investment portfolios, the UAE cannot be ignored. Dubai, in particular, is one of the top destinations for purchasing gold worldwide.
In the UAE, there are numerous gold dealers, jewelers, and banks that offer a wide range of options for buying gold. Whether you’re interested in gold bars or coins, pure gold or lower weight variations, investment grade bullion or other forms of gold ownership, you’ll find plenty of choices in this country.
Online gold dealers in the UAE often offer slightly cheaper prices compared to other sources and provide a variety of options. However, it’s important to consider any markups associated with online purchases.
Switzerland
You may have already noticed a pattern here – countries with stable and secure banking systems tend to be ideal for buying gold. In Switzerland, you can purchase gold through Swiss banks as well as dealers and jewelers. Before making your purchase though, it’s advisable to research and compare prices in order to get the best deal.
Austria
Austria is another excellent country for buying gold. Similar to Hong Kong but not quite at their level of premium rates on purchases; Austrian banks offer relatively low premiums on acquiring physical gold. It’s crucial to buy from reputable sources such as trusted precious metals firms or well-known banks.
Saudi Arabia
Like the UAE mentioned earlier,Saudi Arabia also offers an abundance of options when it comes to purchasing gold – whether through jewelers’ shops online dealerships or local banks. While a Saudi jeweler might provide you with an attractive deal on your purchase,it’s not always guaranteed.Thus,it is essential,to conduct thorough due diligence by comparing prices and markups before finalizing any large-scale investments like this one.
India
Surprised? India may not possess stability comparableto those jurisdictions mentioned above nor does it boast offshore banking opportunities.However,the country offers a plethora of options for gold buyers. Indians hold approximately 9-11% of the world’s physical gold, and this includes not only the wealthy population.Jewelry is the most popular form of gold purchase among Indians. Throughout India, you’ll find numerous dealers, jewelers,gold firms,and banks selling gold at varying prices.