I’ve worked in Africa with small/mid scale miners. One thing is sure, there is no such thing as cheap gold. The miners know and track the spot price. There are plenty of Arabs and Indians in Africa who buy at or just under spot. You ask yourself where the profit is? They smuggle it to India, and avoid tax. I believe tax on gold is around 13% in India. Other dealers that buy just under spot deal in much larger quantities that even a small profit margin makes sense.

Don’t think you can fly to Africa and buy gold cheaper and fly home. The permits alone set you back many thousands, and even then, the are so many other hurdles to jump through. Buy without permits you say? You will get robbed, either by the government or scammers. Most of the time both of them at the same time.

I don’t care who you know or what you read. THERE IS NO CHEAP GOLD IN AFRICA!