International Precious Metals Market
Precious Metals are a major industry all over the world. With applications in fine jewelry, automotive production, electronics and medicine, there are few areas of our day-to-day lives that are not touched by the demand for Silver, Gold, Platinum or Palladium. Different countries rely on different aspects of Precious Metals production for profit. For example, Switzerland is the top Gold exporter in the world, but does little mining of its own rich Gold deposits. China mines more Gold than any other country, but Hong Kong is the major exporter of that Gold.
Following international Precious Metals markets may seem like a necessary part of making savvy investments in Gold, Silver, Platinum and Palladium, but it is not. While international markets can be fascinating, following the spot prices easily available at APMEX will tell you everything you need to know about the international market. There is a popular misconception that Gold, for example, can be bought low in London and sold high in Hong Kong, but that is not the case. When you see different spot prices of Gold in other markets, that is simply because the spot price is listed in local currency according to the exchange rate. Whatever price you see Platinum trading for on the U.S. market is the same price as the Zurich market, just exchanged from Swiss francs into U.S. dollars.
Is the price of Precious Metals per gram uniform across markets?
Yes. No matter how small or large your purchase, the spot price of Gold, Silver, Platinum and Palladium is the same on all international markets.
Is there a preferred market to use when buying a large quantity of Precious Metals?
No. All markets offer the same spot price, and your convenience is the only difference.
Can I realize a profit buying in one market and selling in another?
Only if the price has risen internationally. There is no actual cost difference between markets, even if the price listed appears different.
How can I maximize my investment when buying from an international market?
Maximizing your Precious Metals investment is strictly about timing. There is no profit to be gained simply by buying in one market and selling in another. Any differences in spot price can be chalked up to exchange rates and are not different values.