Gold is one of those precious metals whose timelessness makes it a favorite amongst investors. For hundreds of years, this metal has taken a central position in the lives of ordinary human beings and the rich alike. One of the chief reasons why people buy gold is to hedge against inflation and to protect their wealth from bad economic times. As a matter of fact, gold is more marketable during the times of turmoil, like the current political crisis in Ukraine. Therefore, it is recommended that you invest a certain percentage of your portfolio in gold. The best way to buy gold is to do so at a price less than the current spot gold price. But, how possible is this?
To begin with, gold is sold at a standard price worldwide
This means that whether you buy gold from Europe, Asia, USA, Latin America, The Caribbean, Australasia, or from Africa; you expect to buy it at a standard international market price. However, one question then arises: can one really buy gold at less than the current spot gold price? If so, where exactly could that be? The answer to above questions vary from one continent to another. For example, anyone buying gold from the rebel-held, conflict zones of the Democratic Republic of Congo won’t buy at same price as someone purchasing from the peaceful goldmines in Ghana. In the DRC, some goldmines are in the hands of militias, who often sell fresh gold in a hurry. Therefore, if you deal with suppliers who have connections with these goldmines; then you will enjoy these massive price cuts.
The other principle is that the more gold you buy, the cheaper it is
Unless you are a newbie, but for those who have been buying and selling gold; you must have already known that the price of gold per ounce decreases as you buy more gold. Therefore in order for you to buy at less than the current spot gold price, you’ve got to buy more! Bulk gold purchases are cheaper than retail transactions. In this case, better deals per ounce of gold can be realized once you buy from certain locations in Africa.
If you have been searching for where to buy gold at the best rates, then East Africa I the region
Much of the publicity about gold mining in East Africa only focuses on the gold from the Democratic Republic of Congo. However, there are certain countries in the sub-region that are currently engaging in gold production at massive rates. They include Uganda, Tanzania, Rwanda, and some parts of Eastern. In Uganda, for example, gold production has been boosted by the discovery of gold in the North-Eastern part of the country (Moroto District). With these increase in volumes, there is price competition between miners and gold sellers. In Uganda, you can negotiate the price of your gold. As such, there is a likelihood that you will buy at less than the current spot gold price when you buy from the country. If you would like to know more about the gold trade dynamics in East Africa, feel free to contact us.