Buying small quantities of physical gold and selling in other countries

[Sully123]

Hello
Hopefully this is the correct place to pose such a question.

I was wondering if a market exists for buying small quantities of gold coins - i.e. $15k and selling them to a gold dealer in another country where the price may be more expensive.

I'm asking this as I live in Dubai where gold is relatively cheap and often travel be it on holidays or for work.  I was thinking this may be a nice earner!  I realise there are importation / exportation restrictions and I do not want to exceed them but would it be possible to say buy $15k worth of coins in Dubai and sell them the next day in India (or somewhere else) for say $15.5k or $16k?

If so what destinations would traditionally have the best margin and what type of coins available in Dubai would also yield the best margin?

Thanks

E

[Sully123]

Hi

I presume that by the lack of responses this idea won't work? 

I read an article once that it could be done in HK by buying Chinese panda (??) gold coins and selling them back in the US.  Was wondering if the same could be achieved from Dubai perhaps in India where I believe there is always a huge demand for gold.  If I'm flying there anyway on hols why not make a few quid out of it as well on the way to / from the airport!

Sully

[MicroGuy]

This forum was created to discuss the "digital currency" Goldcoin (GLD).

Official website: http://gldcoin.com/