anyone thinking of going to India to buy some gold?

[HighlandTiger]

http://www.dailymail.co.uk/news/article-3102087/Virgin-Atlantic-cabin-crew-arrested-allegedly-smuggling-gold-jewellery-worth-104-000-wearing-flight-Delhi.html

 

[sovereignsteve]

Don't you mean "to sell some gold? Isn't it more expensive over there?

[Kman]

"The war on gold" 

 

Wow they even put pictures like they do for drugs!!

 

[Pete]

I thought the price of gold was the same all over the world.

That is the spot or fix rate.

The only differences are (a) local taxes and (b.) margins.

We in the UK have no taxes and if you do some research and are prepared to spend around £10k you can find gold at spot plus only 2% so very hard to beat anywhere else in the world.

[Bumble]

India tried to restrict the import of gold because they believed it was having an adverse effect on their balance of trade. This led to a black market in smuggled gold and buyers willing pay to pay considerably over spot.

[HawkHybrid]

India tried to restrict the import of gold because they believed it was having an adverse effect on their balance of trade. This led to a black market in smuggled gold and buyers willing pay to pay considerably over spot.

 

what a smart move, instead of paying normal

prices like everyone else they now pay a

premium for exactly the same thing.

 

HH

[StackemHigh]

Most would go to India for some sort of visit then buy some gold, not a gold buying trip!