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Sign up with Google Sign up with FacebookQ: Gold prices in China?
Is the gold price in China same as in other countries or it is regulated by the government?
It's not same as in other countries ,it's not regulated by the government.It is affected by many factors,such as :international politics and economy ,in 2013 ,gold price in china became low ,this year gets more expensive than before
Buy gold/silver bullion in HK for 20-28% discount of Mainland prices!
You can get gold at jewelry stores and banks all over China. At at bank you can get gold ay 10-15% over spot price. A jewelry store is 20% or more over spot. I would suggest you buy your gold at a reputable bank so you will not get scammed. The government encourages people in China to buy silver and gold. But be aware that it is illegal to take gold out of the country. The best place to buy gold/silver/palladium/platinum is Hong Kong. Gold coins like Kreugerands and Maple Leafs are 2.5% over spot price. However, you can only import into mainland China 50 grams at a time. Check out Kitco in Hong Kong, they are a legit company from Canada and they can sell you bullion and but it back. Bank of China and Hang Seng bank also sells gold and silver coins minted by reputable mints.
Do not even bother with silver in China. It is 50% over spot price at major banks. ICBC makes 50 gm and 100 gm silver bars to commemorate whatever year it is on the Chinese zodiac- but is overpriced and not well known outside of China. China is also rife with fake silver coins and when you want to exchange it for paper money you need to fly to Hong Kong to get someone to take off your hands.
You can get gold at jewelry stores and banks all over China. At at bank you can get gold ay 10-15% over spot price. A jewelry store is 20% or more over spot. I would suggest you buy your gold at a reputable bank so you will not get scammed. The government encourages people in China to buy silver and gold. But be aware that it is illegal to take gold out of the country. The best place to buy gold/silver/palladium/platinum is Hong Kong. Gold coins like Kreugerands and Maple Leafs are 2.5% over spot price. However, you can only import into mainland China 50 grams at a time. Check out Kitco in Hong Kong, they are a legit company from Canada and they can sell you bullion and but it back. Bank of China and Hang Seng bank also sells gold and silver coins minted by reputable mints.
Do not even bother with silver in China. It is 50% over spot price at major banks. ICBC makes 50 gm and 100 gm silver bars to commemorate whatever year it is on the Chinese zodiac- but is overpriced and not well known outside of China. China is also rife with fake silver coins and when you want to exchange it for paper money you need to fly to Hong Kong to get someone to take off your hands.
I'm not saying that gold isn't/hasn't been a lucrative investment option.
But some people freak out about it's "intrinsic value" like it's food, coal or steel; It's not. It's just shiny...and to be fair it doesn't corrode and is a good conductor;
It's value is every bit as contrived as paper money/other forms of currency. You make money on gold due to speculation same as any security.