14 March 2010

Gold Spot Price Check

I was wondering if gold was cheaper in America or Korea so I decided to look things up. For my purpose I referenced the American Precious Metals Exchange (APMEX) and Soongumnara. I chose APMEX because it keep coming up in my research about purchasing gold, and as for Soongumnara, the wife simply suggested the site. For my purpose, I simply wanted a spot price per gram comparison.

In Korea, 3.75g of gold costs 166,100 Won ($147.20). At APMEX the lowest price for 1g of gold is $44.10. So...44.10 X 3.75 = $165.38 (rounded up). I'm not including any shipping or sales charges that either place may or may not include. If, after I decide to purchase a few grams of gold, I factor in any additional costs, I'll be able to do a better price comparison. I don't want to get too far into why I like gold or precious metals, but for simplicity it's easiest to say that I'm a libertarian and we put more faith in precious metals instead of paper money.

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