How to Buy Gold in a Foreign Market
Purchasing gold in a foreign market using foreign currency isn't significantly different from doing so within the U.S. Gold is freely convertible into all globally traded currencies. Buying gold bullion, gold certificates and bullion coins in foreign markets is entirely possible; although, it's not necessarily as accessible and transparent as doing so within the U.S.
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Instructions
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Vaults
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Find a reputable bullion vault to do business with. Some bullion vaults are only custodians of gold vaults. They sell physical gold stored in their vaults internationally in return for a small fee covering storage, security and insurance. Many such vaults take payment in multiple internationally traded currencies.
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Consider purchasing gold certificates from a vault. These vendors sell securities that give the holder the right to purchase gold from a vault. This is riskier than purchasing physical gold from a custodial bullion vault. If the gold certificate issuer goes bankrupt, you may never receive the gold.
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Continue making all relevant storage and insurance payments to ensure access to your gold. Some vaults or certificate writers also deliver gold to owners when requested. Possessing physical gold is risky, difficult to store, expensive to insure and difficult to sell.
Buy Foreign Bullion Direct
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Find a mint or other foreign company that sells gold bullion directly to customers in the form of either gold bullion coins or bars. A popular example of such a foreign company is the Perth Mint of Australia. Research the company carefully before purchasing anything. Look for referrals from multiple sources before sending any payments. Some bullion vendors have been known to sell fake gold to dupe customers.
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Send payment to the company in return for delivery of the gold. In general, when you purchase physical bullion, you can expect to pay broker fees of up to 8 percent, not including shipping. The cost of insuring physical gold is also very high due to the risk of insurance fraud by unscrupulous individuals.
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Inspect any bullion that you receive by taking it to a jewelery appraisal service. Such a company can appraise your gold, verify its authenticity and provide you with a certificate of appraisal that you can show to insurance companies.
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