The decline in consumer spending has caused a decline in the consumption of gold jewelry in China, according to the Thomson Reuters report. The jewelry industry accounts for more than 65% of the country's gold consumption. Hong Kong could be the country with the cheapest price of gold in the world. You can go into several banks and buy gold coins, often at a lower premium compared to other countries.
Additionally, you can also invest in gold by putting it into an IRA account, allowing you to take advantage of the benefits of having Gold in an IRA Account. As early as the 13th century BC. C., the ancient Egyptians were responsible for creating what is believed to be the first topographic map, known today as the Turin Papyrus Map, which showed the location of gold deposits and a gold mining settlement. They worshiped gold so much that they referred to it as “the flesh of the gods”. Today's Egyptians are still very attracted to the yellow metal.
The California Gold Rush (1848-1885) not only put the Golden State on the map, but it also marked a turning point in the history of global gold mining. It is estimated that nine out of 10 tons of gold on the ground have been mined since the Gold Rush, just 170 years ago. Today, Americans' obsession with the yellow metal remains as strong as ever. Next, the precious metals experts at First National Bullion and Coin, the best place to buy gold in Scottsdale, analyze the countries cheapest to buy gold and offer other ways to buy gold without exhausting your budget.
This will give you a better idea of the trend in gold prices and which countries currently offer gold at the lowest prices. Another way to track gold prices in various countries around the world is to check the preferred gold price chart.