snoop1130 Posted July 10, 2020 Share Posted July 10, 2020 Not everything that glitters is gold, warn officials By The Nation People have been warned against buying gold bars from unofficial sources as they may be fake, the Government Public Relations Department said in a Facebook post on Thursday (July 9). Now that the price of gold is rising, criminals are coming up with fake gold bars that look very real. “These bars are filled with other metals, such as copper or lead. In Thailand, online shops and criminals are deceiving buyers and taking advantage of the rise in the price of gold.” The official advised people to only purchase the precious metal from shops that have a “Buy with Confidence – BWC” sign, as they are required to maintain standards. As of 10.07am on Friday, the buying price of gold bars was Bt26,550 per baht weight and selling price Bt26,650, while gold ornaments cost Bt26,075.20 and Bt27,150, respectively. Source: https://www.nationthailand.com/news/30391072 -- © Copyright The Nation Thailand 2020-07-10 - Whatever you're going through, the Samaritans are here for you - Follow Thaivisa on LINE for breaking COVID-19 updates 1 Link to comment Share on other sites More sharing options...
Popular Post samsensam Posted July 10, 2020 Popular Post Share Posted July 10, 2020 People have been warned against buying gold bars from unofficial sources as they may be fake, the Government Public Relations Department said in a Facebook post on Thursday who would've have thunk it...?! does your government use facebook to communicate important messages to the population?! 4 1 1 12 Link to comment Share on other sites More sharing options...
Popular Post anterian Posted July 10, 2020 Popular Post Share Posted July 10, 2020 If the fake gold has a lead or copper core, then it is easy to tell using Archimedes's principle. However if the criminals use tungsten or depleted uranium it can fool this test. 2 1 9 Link to comment Share on other sites More sharing options...
Popular Post johng Posted July 10, 2020 Popular Post Share Posted July 10, 2020 Depleted Uranium ? Is that readily available ? 2 1 1 13 Link to comment Share on other sites More sharing options...
Popular Post DrTuner Posted July 10, 2020 Popular Post Share Posted July 10, 2020 I thought they were talking about the daily COVID stats. 2 2 Link to comment Share on other sites More sharing options...
Popular Post nausea Posted July 10, 2020 Popular Post Share Posted July 10, 2020 Yeah, fall out from the Chinese thing. 4 Link to comment Share on other sites More sharing options...
Mr Meeseeks Posted July 10, 2020 Share Posted July 10, 2020 2 hours ago, johng said: Depleted Uranium ? Is that readily available ? Yep. Remember this? https://thethaiger.com/news/north-east/magic-cards-contain-dangerous-radioactive-materials 1 1 Link to comment Share on other sites More sharing options...
anterian Posted July 10, 2020 Share Posted July 10, 2020 uranium the current long term prices is $78/kg it is legal to own and purchase If it is a solid chunk of DU or another non-dispersible form, that limit is 7 kg. 2 Link to comment Share on other sites More sharing options...
Popular Post animalmagic Posted July 11, 2020 Popular Post Share Posted July 11, 2020 10 hours ago, nausea said: Yeah, fall out from the Chinese thing. You mean the Kingold scam, Wuhan based company, where they borrowed money to invest in real estate based on possession of 83 tonnes of gold that was actually copper? Equivalent to 4.2% of China's gold reserves and 22% of current production. Cunning plan, offload the fake stuff on individual buyers for a discounted price, a deal too good to be true, and then buy real stuff to fill the gap. https://www.businesstoday.in/current/world/biggest-gold-fraud-busted-in-china-83-tons-of-fake-gold-bars-used-as-loan-collateral/story/408497.html 9 2 Link to comment Share on other sites More sharing options...
Popular Post LawrenceN Posted July 11, 2020 Popular Post Share Posted July 11, 2020 14 hours ago, samsensam said: does your government use facebook to communicate important messages to the population?! No. Twitter. 1 1 15 Link to comment Share on other sites More sharing options...
Popular Post soalbundy Posted July 11, 2020 Popular Post Share Posted July 11, 2020 14 hours ago, johng said: Depleted Uranium ? Is that readily available ? Only on recent battlefields where the US tried overwhelming problems instead of solving them. 4 3 Link to comment Share on other sites More sharing options...
Popular Post Deli Posted July 11, 2020 Popular Post Share Posted July 11, 2020 14 hours ago, johng said: Depleted Uranium ? Is that readily available ? Brother Kim most likly can help out 1 1 1 Link to comment Share on other sites More sharing options...
parallaxtech Posted July 11, 2020 Share Posted July 11, 2020 I purchased 20 bars (5-10baht) in 2018 from 2 of the oldest gold shops on the island. Should I take one bar back and try to sell it to them? In 2 years, I haven't seen any change in color and each one was weighed and a receipt was given. What would be your recourse if you were sold fake gold? 1 Link to comment Share on other sites More sharing options...
Popular Post Khun Paul Posted July 11, 2020 Popular Post Share Posted July 11, 2020 Well buyer beware applies here, but here stupidity ranks just below corruption, so no hope 4 1 Link to comment Share on other sites More sharing options...
Popular Post ChrisY1 Posted July 11, 2020 Popular Post Share Posted July 11, 2020 15 hours ago, johng said: Depleted Uranium ? Is that readily available ? Kao san road sells everything. 1 3 Link to comment Share on other sites More sharing options...
5633572526 Posted July 11, 2020 Share Posted July 11, 2020 1 hour ago, LawrenceN said: No. Twitter. Sad but true in USA Link to comment Share on other sites More sharing options...
Beechboy Posted July 11, 2020 Share Posted July 11, 2020 "Glisters" .... get the quote correct if you want to evoke Shakespeare. A common mistake from the layman, but a journalist should know better. 1 1 Link to comment Share on other sites More sharing options...
FinChin67 Posted July 11, 2020 Share Posted July 11, 2020 (edited) They learn it from their masters China's biggest gold fraud, 4% of its reserves may be fake: Report At the centre of the fraud is Wuhan Kingold Jewelry Inc, a company founded and operated out of Wuhan. https://economictimes.indiatimes.com/news/international/world-news/chinas-biggest-gold-fraud-4-of-its-reserves-may-be-fake-report/articleshow/76707339.cms?from=mdr Edited July 11, 2020 by FinChin67 1 Link to comment Share on other sites More sharing options...
Grumpy John Posted July 11, 2020 Share Posted July 11, 2020 1 hour ago, parallaxtech said: I purchased 20 bars (5-10baht) in 2018 from 2 of the oldest gold shops on the island. Should I take one bar back and try to sell it to them? In 2 years, I haven't seen any change in color and each one was weighed and a receipt was given. What would be your recourse if you were sold fake gold? Tears and beer spring to mind! Link to comment Share on other sites More sharing options...
jvs Posted July 11, 2020 Share Posted July 11, 2020 16 hours ago, anterian said: depleted uranium This would shine even in the dark? 1 Link to comment Share on other sites More sharing options...
StevieAus Posted July 11, 2020 Share Posted July 11, 2020 17 hours ago, samsensam said: People have been warned against buying gold bars from unofficial sources as they may be fake, the Government Public Relations Department said in a Facebook post on Thursday who would've have thunk it...?! does your government use facebook to communicate important messages to the population?! The President of one country uses twitter to communicate what he believes are important messages ! Link to comment Share on other sites More sharing options...
StevieAus Posted July 11, 2020 Share Posted July 11, 2020 1 hour ago, Beechboy said: "Glisters" .... get the quote correct if you want to evoke Shakespeare. A common mistake from the layman, but a journalist should know better. But only the uneducated layman surely. Link to comment Share on other sites More sharing options...
Brunolem Posted July 11, 2020 Share Posted July 11, 2020 1 hour ago, parallaxtech said: I purchased 20 bars (5-10baht) in 2018 from 2 of the oldest gold shops on the island. Should I take one bar back and try to sell it to them? In 2 years, I haven't seen any change in color and each one was weighed and a receipt was given. What would be your recourse if you were sold fake gold? Official gold shops don't sell fake gold. Just sell one bar and see how easily it goes...they won't check or test it, just weigh it and pay you right away. But better not sell now... Link to comment Share on other sites More sharing options...
owl sees all Posted July 11, 2020 Share Posted July 11, 2020 (edited) 35 minutes ago, FinChin67 said: They learn it from their masters China's biggest gold fraud, 4% of its reserves may be fake: Report At the centre of the fraud is Wuhan Kingold Jewelry Inc, a company founded and operated out of Wuhan. https://economictimes.indiatimes.com/news/international/world-news/chinas-biggest-gold-fraud-4-of-its-reserves-may-be-fake-report/articleshow/76707339.cms?from=mdr Easy to tell if any gold is fake. Get a bucket. Put the bucket in a bowl. Fill the bucket with good clean water; the purer the better. Weigh it. Put the block of gold carefully into the bucket. Carefully weigh, or measure, the displaced water. Weigh the bucket with the gold. Compare the weight of the bucket with the gold to the water overflowed. Easy peasy. Edited July 11, 2020 by owl sees all Link to comment Share on other sites More sharing options...
parallaxtech Posted July 11, 2020 Share Posted July 11, 2020 2 minutes ago, Brunolem said: Official gold shops don't sell fake gold. Just sell one bar and see how easily it goes...they won't check or test it, just weigh it and pay you right away. But better not sell now... Thanks B. I read that all Thai gold shops were regulated by the Thai Gold Commission. I suspect that any shops that sell fake gold will be out of business and lose their license. These shops have been in business longer than the 16 years I have been here. Just to be safe, I will take a 10B bar over to the same shop and see if they want it. I don't want Thai baht and will hold the gold for many more years. Link to comment Share on other sites More sharing options...
Keesters Posted July 11, 2020 Share Posted July 11, 2020 17 hours ago, samsensam said: People have been warned against buying gold bars from unofficial sources as they may be fake, the Government Public Relations Department said in a Facebook post on Thursday who would've have thunk it...?! does your government use facebook to communicate important messages to the population?! No. The USA use twitter. Link to comment Share on other sites More sharing options...
Dice Man Posted July 11, 2020 Share Posted July 11, 2020 17 hours ago, johng said: Depleted Uranium ? Is that readily available ? At your Local 7-11 Link to comment Share on other sites More sharing options...
Reigntax Posted July 11, 2020 Share Posted July 11, 2020 17 hours ago, johng said: Depleted Uranium ? Is that readily available ? On facebook and Khaosan Road. Just follow the illumination or buy a giger counter from next to the vibrator seller 2 Link to comment Share on other sites More sharing options...
SuwadeeS Posted July 11, 2020 Share Posted July 11, 2020 If you all would watch real news, you would know, where it comes from. .... China just copy everything. 1 Link to comment Share on other sites More sharing options...
Peterphuket Posted July 11, 2020 Share Posted July 11, 2020 1 hour ago, Brunolem said: Official gold shops don't sell fake gold. Just sell one bar and see how easily it goes...they won't check or test it, just weigh it and pay you right away. But better not sell now... How long will you wait. Link to comment Share on other sites More sharing options...
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