Gold chains are a piece of jewelry that is liked and worn by both men and women.
However, due to the economic instability of the world, prices of gold have increased to a large extent.
But what if we told you that there are some countries where you can buy gold chains at comparatively cheaper prices.
In this article, we have provided information about the places that are best to buy cheap gold chains.
Dubai is the first place that comes to mind when you think about gold.
There are hundreds of gold shops in Dubai. Every mall, local market, and any marketplace has gold shops where one can easily find high-quality gold chains at a cheaper price.
You would see several people buying gold from these shops as Dubai is famous for its cheaper gold prices.
Dubai is known for low or zero amount of taxes. Gold jewelers only have to pay a tax of 5%. Other countries have high taxes. This is the main reason for the cheaper rates of gold chains in Dubai.
If we talk about the quality of gold chains in Dubai, almost all gold shops are registered with the government and have certificates.
Hong Kong is home to cheap and pure gold. Mostly the gold in Hong Kong is 99% pure.
While most of the gold that is found in western gold shops is 18K or 14K, which means that the purity of gold lies between 55% to 65%.
So if you are looking for pure gold chains at a cheaper price, then you should consider Hong Kong as an excellent option.
The main reason for the cheap prices of gold chains in Hong Kong is the tax relaxation for gold jewelers by the government.
So the sum of the price is made by considering the international market price of gold and adding the labor cost in it and the profit in it.
As gold is connected to the traditions of China, you’ll not only find cheap gold chains, but also intricate designs of gold chains.
If someone wants to buy gold chains in Hong Kong, they can simply go to any authentic gold store. However, merchants can go to any bank in Hong Kong and can get the desired amount of gold from there.
Buying cheap gold chains in Thailand can be a good option.
Thai people buy gold on special occasions and give it as a gift, buy gold to encase their religious amulets, or simply buy gold as it’s a good investment for a safe future.
Also as the people of Thailand love gold and it holds cultural, traditional, and religious importance, there are many unique designs of gold chains in Thailand.
Also, the quality and purity of Thai gold chains is better than the gold you would see in western gold shops.
Most of the gold that is found in western shops has low purity, but in Thailand, most of the gold is more than 95% pure.
In short, Thailand is one of the best places to buy gold chains that are not only inexpensive and highly pure but also unique in design.
Another place to buy cheap gold chains in Switzerland.
Most of the famous gold companies originated in Switzerland. This is because gold is refined in Switzerland and there are many gold refineries in Switzerland.
This fact makes the gold chains cheaper in Switzerland as compared to some of the other countries.
To find the original gold chains in Switzerland, you should do some research to find reputable gold shops in Switzerland. If you simply want to buy gold, then Swiss banks are the safest option.
Another middle eastern country that is known for having cheap gold chains in Saudi Arabia.
Saudi Arabia has one of the largest gold reserves. The sales tax on gold chains and other gold items is only 5%,which is the biggest reason for gold being cheaper in Saudi Arabia.
Also, the gold chains in Saudi Arabia have highly pure gold in them.
Why Is Gold Cheaper In Some Countries?
Some countries have gold at cheaper prices while some have gold at extremely high prices. Why is the price of gold cheaper in some countries when the price of gold is similar for all countries around the world?
The prices of gold are the same around the world as gold has an international price. This price is set through London Gold Fixing, this set of gold’s price occurs through a conference line.
The gold prices are the same around the world, then how come gold is expensive in some countries and comparatively cheaper in some?
This is due to the tax duties and costs of transportation. Because of these factors, the cost of gold is cheaper in some countries.
If we specifically talk about the gold chain, then some manufacturers may compromise on the quality of material other than gold used in it.
Compromising on the quality of material used in manufacturing leads to cost cut-down. As a result, the end product (gold chain) is sold at a lower price.
How Do You Get The Best Deal On A Gold Chain?
To buy the best and cheapest gold chains, the first step is to do research. You need to find the countries where cheap gold chains are being sold.
Price shouldn’t be the only factor while searching for the best place to buy gold. You should also consider the purity of gold, design of the gold chain, taxes on the gold chain, and some other factors.
Also, try to find the best brands to purchase gold chains in the country you want to buy our base cheap gold chain from.
Is Buying A Gold Chain Worth It?
Yes, it is a good investment and you can also get a beautiful piece of jewelry.
Most people buy gold to show off their wealth, most buy for the beauty of the gold jewelry, and most people buy gold as an investment.
Whatever your reason to buy the gold chain is, it’s worth it. As you are not only investing for the rainy days but also getting a beautiful price for neckwear.
Which Country sells The Cheapest Gold Jewelry?
The price of gold is the same throughout the world, but the cost of labor, taxes and transportation costs can cause the price of gold to differ in all countries.
As we mentioned for the gold chains, UAE is one of the best places to buy cheap jewelry. In the UAE, Dubai is the best place to buy cheap gold jewelry.
Gold chains are cheaper in places such as Dubai, Switzerland, Saudi Arabia, Thailand, and Hong Kong because of tax relaxations, low labor costs, or other factors.
Gold chains of a cheaper price, but with highly intricate designs and pure gold can be found in these countries.