- November 29, 2018
- Tips for tourists
- Ahi Svetlana
Gold can be called the most insidious and deceptive metal. Over the centuries, crimes have been committed and wars have started because of it. But in its pure form the metal is very fragile. To make gold durable, man learned to add minor elements to it. But they do not devalue jewelry. Every year the price for them increases. The cost of precious metal differs in different countries. Let's find out where the cheapest gold is in the world. In which country can you buy jewelry at a profit?
Kinds
The classification is simple:
- White gold.
- Yellow.
- Red.
Products made from white gold are valued higher. Noble metal is made from expensive impurities. They determine the high cost of jewelry.
The whitish color of the noble metal is not created with the help of platinum, as many believe. White gold is produced by adding impurities of nickel, copper, zinc and silver to a natural element. All of them increase the strength of the precious product. White gold comes in two types: noble and ordinary. In the first type, jewelry makers add expensive metals. The second one includes nickel and copper impurities. Therefore, prices for white gold products may vary significantly.
Yellow color is the natural shade of the noble metal. How much is gold worth? If we compare products made from yellow and white metals, the former will be significantly cheaper. This is because yellow gold is soft. Fine jewelry made from it will be fragile: they can easily be damaged in everyday life.
Red gold is obtained through complex processing of natural metal. This product is durable. It does not fade and does not lose its attractiveness when worn. However, fashion dictates its own rules. Jewelry made from red gold is valued less than its counterparts made from yellow metal. Its value is also affected by the fact that red gold is more difficult to combine with precious stones. And this reduces its price. Red is the cheapest gold.
In which country it is more profitable to buy precious metals, we will consider below.
Italian and Turkish gold
An attractive country for buying gold is Türkiye. The alloy products produced by Turkish jewelers are durable, delicate and attractive. The low cost of jewelry creates increased demand among tourists who want to bring souvenirs from their trip.
It is better to buy products in boutiques, ask for a receipt for the purchase and carefully study the appearance, do not hesitate to examine the decoration under a lamp.
Italy is one of the major exporters of precious metals, so when traveling around the country, it is worth thinking about a bargain. Jewelry made by Italian craftsmen is distinguished by its appearance.
Due to the presence of copper and silver in the alloy, the jewelry has a bright yellow tint with beautiful tints without the presence of inserts of other colors. Jewelers from Italy give the material interesting shades by adding other components.
In most cases, the alloys correspond to the samples:
- 24 carats (990-999);
- 18 carats (750);
- 14 carats (585).
Jewelry products by Italian craftsmen are works of art in which small details are worked out with finesse. The material is polished in a special way, characteristic only of this country.
The popularity, worldwide success and recognition of Italy as a trendsetter brought the brands Gucci and Armani to the state, so products here are always made from the highest quality materials.
Samples
In its original form, the noble metal looks completely unattractive. Natural gold has many disadvantages. Among them: susceptibility to corrosion, mechanical damage, dull, inexpressive color. To correct the situation and obtain a “perfect” piece of jewelry, silver and copper are added to gold. To improve its quality, zinc and palladium are used.
Many believe: the higher the purity of gold, the more valuable, durable and better quality it is. But that's not true. The higher the metal standard, the lower its strength. There are 6 main samples of gold.
- 375 is 9 carats. It contains about 37% pure gold. The rest is silver combined with copper. Such products are considered the most durable. But they are also cheaper due to the fact that they quickly lose their attractiveness: they fade over time.
- 500 – 12 carats. It contains 50% pure natural metal. Such products begin to fade after 2 years.
- 585 – 14 carats. This is the gold standard. The jewelry contains about 58% pure gold.
- 750 – 18 carats. 75% consists of natural metal. Products made from it are characterized by moderate strength.
- 958 – 23 carats. Jewelry includes 95% pure gold. They look chic but are soft; Because of this, they quickly scratch and break.
- 999 – 24 carats. Rare high-grade alloy. It is used as inserts in jewelry.
How much does 375 and 585 gold cost? It all depends on the alloy used and the country of manufacture. The price difference in the above samples will be about 30%.
High purity gold coins
If you prefer high purity gold coins, look for coins with a stated fineness of 9999. Gold coins of this purity are produced in many countries around the world, including Australia, Austria, Canada, Israel, Kazakhstan, Malaysia, New Zealand, Poland and the United States.
Typically, these countries mint certain gold coins at the highest purity available. In the United States, for example, the purest gold coin you can buy is the American Buffalo coin.
A complete guide to gold coins and instructions for purchasing them in 2021 can be found in a special article at the link.
Source: Jon Cavuoto, FirstNationalBullion, August 23, 2021 | Translation: Gold Reserve
Where is the cheapest gold
Currently, global gold reserves amount to 3 billion ounces. Where can you buy the cheapest gold in the world? Answer: North America. In this country, the production of precious metal does not require large material and labor costs. And on the African continent, gold will be 2-3 times more expensive. This is explained by the labor-intensive process of its extraction. The noble metal in Africa is found deep underground. To extract 1 small golden ball, you need to dig up about 9 tons of soil.
Africa ranks first in gold production in the world, North America is second, Australia is third, and Asia is fourth.
Other countries with high purity gold
The UAE is not the only country known for its abundance of high-purity gold. Some other well-known centers for purchasing large quantities of near-pure or exceptionally high-grade gold are in countries such as:
- India,
- Thailand,
- Switzerland.
India
India has a long history of paying close attention to the purity and quality of gold in almost all solid forms. Moreover, buying gold here is one of the most common practices in major port cities like Kochi.
Thailand
Thailand has high purity gold which is quite easily available. However, before making a purchase here, it is recommended to first ensure that the seller you choose is reliable.
Switzerland
Given the country's reputation for attention to detail in chocolate production, it's no surprise that the Swiss also value pure gold. Moreover, the high purity gold sold and processed here in solid form is known for its exquisite features and designs.
The most expensive gold
Russian jewelry differs from its European counterparts. Gold items with a red tint remain popular among Russians. They look decent and have good durability. Imported jewelry is made from other alloys. They are more expensive, have a higher standard, but are also fragile. As a rule, Europeans wear them for festive events. But this does not mean that gold is the cheapest in Russia.
We will find out below in which country products made of precious metal can be purchased profitably. In the meantime, let’s find out where the most expensive gold is sold. It is mined in Scotland at the Cononish mine. It is the most valuable type of precious metal in the world. 1 ounce costs $1,400. Scottish gold is highly valuable due to its brightness, rarity, and purest yellow color. It is mined in dangerous conditions.
What is gold
The view of the origin of gold in nature has recently changed. Scientists believe that it appeared as a result of the collision of neutron stars. The resulting powerful burst of gamma radiation persists in space for a long time and forms a large amount of heavy elements, such as gold.
Subsequently, metal particles in the form of dust cross space and condense on celestial bodies or during the formation of planets. The liquid core of the Earth contains a lot of gold, the rest appeared in the crust and mantle when the surface was bombarded by asteroids in ancient times. As magma escapes, metal particles settle in the rocks.
In microscopic sizes, gold is present in all living organisms, water and other elements on the planet. Larger particles are found during the development of primary rock deposits (bedrock), as well as in the form of nuggets (placers). When magmatic formations are destroyed by external forces, grains of matter fall into the water, etc. gold is a dense and heavy metal, they settle at the bottom of rivers.
The density of the substance greatly facilitates its extraction, which can be done by washing the soil manually or using special machines. The found particles vary in size - from tiny fragments to nuggets of different sizes. Nuggets are considered to be pieces of at least 5 g in weight and 0.5 cm in length. The largest variant found weighed about 2.5 tons and was found in Afghanistan; there is almost no information about it.
The largest nugget in modern history is the “Holtermann Plate” from Australia, its mass is 100 kg; among the Russian ones, the “Big Triangle” (36 kg) stands out.
Distinctive characteristics
The characteristic features of pure metal are:
- Softness and plasticity. Gold can be easily processed, and can also be scratched and deformed.
- Density. It ranks 7th among all metals on the periodic table in terms of this parameter. Even a small nugget is quite heavy.
- Inertia. Gold reacts weakly with most elements, under normal conditions it almost does not interact with acids and alkalis, and cannot be oxidized. Therefore, it is classified as a noble metal.
- High degree of thermal and electrical conductivity.
- Shine.
Metallic shades
The natural color of pure metal without impurities is yellow. However, in this form the metal can only be found in ingots, since jewelry and coins in this state will not be able to keep their shape. Other shade options are obtained when alloys are created by adding other metals (ligatures), as well as additional physical processing. The colors of gold other than yellow are:
- Red (pink). It is obtained by combining the main element with copper. This alloy is known as red gold. A pinkish tint is achieved if the addition of copper is minimal, or if silver is present in the alloy as a whitening component.
- White. Also one of the most common options. It is obtained with sufficient presence of whitening metals in the composition: expensive palladium and platinum or more affordable nickel. The strength of the connection depends on the properties of the additional element.
- Green. It does not have a rich tone, but rather belongs to the greenish-yellow range. This shade is given by the silver in the alloy.
- Blue. Formed by adding indium or gallium. In the first case, a blue-gray tint is observed, in the second, a bluish tint.
- Purple (violet or amethyst gold). A fragile compound with aluminum, first obtained in 2003. It has a very high cost, even compared to pure gold, due to the difficulty of obtaining.
- Black. It is obtained by combining the main element with: black rhodium, sulfur, ruthenium, amorphous carbon, chromium, cobalt. In this case, additional processing is used (galvanic method, patina coating, plasma deposition, controlled oxidation).
You can read more about what color gold is here.
UAE
Dubai gold is in demand among Russians. And all because the jewelry of this country is high-quality and inexpensive. Gold in the UAE is sold everywhere: in large shopping centers, small shops, and on the market. Many jewelry items are marked 18K, which corresponds to 750 purity.
Dubai gold is considered inexpensive. For example, small white gold stud earrings cost an average of 500 dirhams (about $136). And this is just the starting price. Local sellers like to haggle with them, so you can buy jewelry more profitably.
Is gold harmful or beneficial?
It is generally accepted that it has a beneficial effect on the human body, tones and adds strength, has a positive effect on the nervous and cardiac system, and lowers blood pressure.
But we must not forget that white gold can cause allergies, as it contains nickel. And according to statistics, every 8th person on the planet is allergic to nickel.
Since 2000, the European Union has allowed the production of white gold only with the addition of palladium.
Türkiye
Many people compare Turkish gold with European gold. It looks gorgeous at a relatively low cost. But there is a nuance here. Firstly, gold is not mined in Turkey. Local jewelers only make amazingly beautiful jewelry from precious metal. Secondly, the alloy of Turkish jewelry is not of high quality. Craftsmen add only copper to natural metal, ignoring silver. Their final product is a beautiful yellow hue, but it is lighter than its Russian and European counterparts. Such gold is susceptible to weathering; it quickly begins to fade, losing its “presentable” appearance.
Where is gold cheaper: in Turkey or OJSC? 1 gram of precious metal in Turkey costs from 7 to 12 dollars. Therefore, gold jewelry will be cheaper there. But their quality is inferior to Dubai jewelry.
How to buy gold jewelry profitably?
We found out where the cheapest gold is in the world. Let's define the main points that you should pay attention to when buying jewelry. Finally, a few tips:
- Do not fall for the tricks of jewelry stores about sales and huge discounts. This is a marketing ploy, the purpose of which is to attract the largest number of buyers. As a rule, the price including the discount is the old inflated cost of the jewelry.
- You should be careful when choosing gold jewelry. Before purchasing it, you need to compare the price in different stores. As practice shows, the cost of the same product differs at different retail outlets.
- Sellers often divert buyers' attention from inflated prices by providing them with a lifetime warranty on the jewelry. This is also a publicity stunt. And we need to remember this.
- Jewelry stores often sell gold jewelry at prices that are 2-3 times higher than wholesale prices. Therefore, it is appropriate for the buyer to ask for a discount of at least 10-15%. Especially if the decoration is really expensive.
A person strives to save money, so he will always look for high-quality, but at the same time the cheapest gold. It doesn’t matter in which country he buys the jewelry. The main thing is not to succumb to excessively low prices, but to choose a high-quality metal alloy. Gold prices are the most important economic indicators. History proves that the yellow precious metal is eternal. Therefore, gold jewelry will always be in price.
Seasonal prices and precious alloy scrap
Purchasing cheap gold products is possible not only abroad. When making a purchase in our country, it is worth considering several rules that will help you profitably invest in the precious metal.
Where are jewelry cheaper? When choosing products, it is better to contact manufacturers' stores. Retail trade is always associated with a markup on products, so you should visit showrooms located near jewelry factories and factories.
It is recommended to make purchases during the discount season. At the sale of last season's collections, where quality is preferred, it is possible to purchase jewelry at a bargain price.
You can find unique, sometimes antique jewelry at a low price at a pawn shop. Scrap can be purchased from this financial institution that provides loans against jewelry. By taking the purchased material to a jewelry workshop that conducts licensed activities, you can order costume jewelry.
