pull down to refresh
Interesting. Here in New Zealand the local gold merchants have a similar spread of about 5% above and below spot price for sell and buy.
That's why for me buying gold in Thailand with their spread much closer to 1% above and below spot price is preferable.
I believe that in most western countries the gold market is somewhat restricted to prevent it competing with fiat money and stocks.
reply
on Gold Avenue they don't buy back the gold sent physically, there is an option of storage in a safe in Switzerland, I saw a video about this where new users feel scammed for not having read all the details, and this is where they abuse on the premium prices.
They highlight free storage up to 10k euros and no additional costs on resale but they apply their own resale prices below the metal price.
I looked at most of the physical stores around me, repurchased gold at -5% of the price of the gold rate.