Is it good to buy gold from Dubai or Turkey?

Question

In case you want to resell it and make money? Is it affordable?

Thanks alot!

Answer 1

Well the price of gold is the price of gold regardless of where you are. But.......

Jewelry in the Middle East is generally often better worked and more interesting than the standard jewelry in the west. Standard western jewelry is already marked up hugely. Say that $5000 tennis bracelet is worth in reality $1000, really. So imagine if you were to buy something here that was exceptionally done and obviously took a great deal of time to make. Imagine the markup.

Over the years I have purchased jewelry in various Muslim countries including Dubai. Upon returning I get it appraised in order to add it to homeowner's insurance. A couple of times I have been offered double what I paid. And always you can tell that even the experienced jeweler get a gleam and an interest. And I have noticed that when my wife wears some of it people comment on where could I have possibly bought it. You get the point.

Further, keep in mind that dealers are much more apt to haggle a bit on the price..... it is even expected. So yes I suppose on could make money if one had a good eye and a place to sell it where people would appreciate it.

Answer 2

The actual price of gold anywhere in the world is the same, the only difference can be, if the government of your country puts a tax on the price as well.

Buy gold shares to make money on gold, Buy gold bullion to guard against catastrophic financial upheavel.