All That Glitters (or I Need To Buy Gold)

[hastings]

I have to buy several baht of gold (getting married), and have several questions that I hope the experts on TV can answer. In no particular order:

1. What is the current cost of a baht of gold (and where can I find it on-line for future reference)?

2. Is the cost inclusive of tax and VAT, (or can tax and VAT be avoided)?

3. Where is th best place to buy in Bangkok (I heard that the shops in MBK will rip you off)?.

4. Is it cheaper to buy gold up country?

5. Is it possible to get a better price if you are buying more, i.e., 7 baht as opposed to 1?

6. If you use a credit card is there an additional fee, and if so can that be avoided?

7. Is there a discount for a cash transaction?

8. Does the craftsmanship of the gold result in a difference in price, or is it sold strictly by weight?

9. Are certain shops certified or regulated by the government to avoid ripping off the tourists?

While I have many questions, this is a good start. As stated, I am getting married to a wonderful Thai woman (and the fiancée wants gold as opposed to a big diamond ring). I think that several baht of gold will be far less expensive so I am relatively happy about this (in the states I would have probably had to pay almost two months salary for a ring according to the women I know).

[Shah Jahan]

I have to buy several baht of gold (getting married), and have several questions that I hope the experts on TV can answer. In no particular order:

1. What is the current cost of a baht of gold (and where can I find it on-line for future reference)?

2. Is the cost inclusive of tax and VAT, (or can tax and VAT be avoided)?

3. Where is th best place to buy in Bangkok (I heard that the shops in MBK will rip you off)?.

4. Is it cheaper to buy gold up country?

5. Is it possible to get a better price if you are buying more, i.e., 7 baht as opposed to 1?

6. If you use a credit card is there an additional fee, and if so can that be avoided?

7. Is there a discount for a cash transaction?

8. Does the craftsmanship of the gold result in a difference in price, or is it sold strictly by weight?

9. Are certain shops certified or regulated by the government to avoid ripping off the tourists?

While I have many questions, this is a good start. As stated, I am getting married to a wonderful Thai woman (and the fiancée wants gold as opposed to a big diamond ring). I think that several baht of gold will be far less expensive so I am relatively happy about this (in the states I would have probably had to pay almost two months salary for a ring according to the women I know).

Gold is a commodity - just like putting money in the back - in Thailand there is nothing sentimental about it - its just like giving your wife a savings bond that she can cash in at anytime. understand that when you buy somebody gold in LOS, you are essentially giving them a pile of cash to wear around their neck.

1. check BKK post http://www.bangkokpost.com/ for current rate - shops will have 3 different rates- buy rate, sell rate and buy back rate(if you bought it there

2. I never heard about tax or VAT on gold - if there is then its included (or maybe its cause i live upcountry...)

3. Cheapest place is the one with the best rates posted -

4. it is a commodity

5. not really

6. Usally they charge %3 on all CC transactions in LOS

7. The posted price is for cash

8. NO weight only

9. If you do go to a 'regualted' government store you are sure to be ripped off. Better to goto one of the Red walled chinese gold shops - they are all pretty much the same

[hastings]

That is what I wanted to know. Thank you Shah Jahan for your prompt response. If there are other comments those would be welcome as well.