Gold bar shops

[EricTh]

Can anybody recommend a gold company with the following criteria

 

1. It has branches in both Chiang Mai and Bangkok

2. It sells and buy back gold bars

3. Reputable company that has been around for at least 10 years

 

 

[Dante99]

what kind of gold bars?

[ThailandRyan]

What do you want, 1 baht, 2 baht, 3 baht, 5 baht, or 10 baht bars.  Aurora has branches through Thailand.  I buy them in 2 baht, and 5 baht bars.  However, with gold prices dropping I will be buying a 10 baht bar here soon.  Add it to the pile in the safe, for a rainy day when the prices increase again or for old age.

[Richard 2020]

I also buy and sell at AURORA , and for many years!

Very satisfied!

 

And they have branches in almost all shopping centers!

 

LOTUS - BIGC- etc.

[proton]

11 minutes ago, Richard 2020 said:

I also buy and sell at AURORA , and for many years!

Very satisfied!

 

And they have branches in almost all shopping centers!

 

LOTUS - BIGC- etc.

Don't they charge more than ordinary gold shops?

[ThailandRyan]

7 minutes ago, proton said:

Don't they charge more than ordinary gold shops?

I have never notice any higher charge from them versus buying from the shops on Yaowarat Road, in China Town here in BKK.  As they are not gold ornaments, such as intricate bracelets or other Jewelry like rings, those can have a surcharge of 500 to 1000 Baht charged for the workmanship.  For the bars I have been paying between 400 baht more than the daily spot price, for each of bars, and for which gold is selling for that day. The bars are 96.5% gold.  You also need to watch them weigh the object as well as getting it in writing along with any warranty they may have. 

[itsari]

3 hours ago, ThailandRyan said:

What do you want, 1 baht, 2 baht, 3 baht, 5 baht, or 10 baht bars.  Aurora has branches through Thailand.  I buy them in 2 baht, and 5 baht bars.  However, with gold prices dropping I will be buying a 10 baht bar here soon.  Add it to the pile in the safe, for a rainy day when the prices increase again or for old age.

Old age , 150 ? Who are you kidding , yourself or others ?

[PeachCH]

Not the right time to buy gold now. Could dip further in the next few weeks. 

[ThailandRyan]

18 minutes ago, PeachCH said:

Not the right time to buy gold now. Could dip further in the next few weeks. 

It is always the right time to buy gold, why wait until it hits what you think is Bottom.  USD to Thb today makes it a great time

[ThailandRyan]

1 hour ago, itsari said:

Old age , 150 ? Who are you kidding , yourself or others ?

Well since I am only 57, I still have many more years to go my friend.  Planning and hoping to be around at least another 30, so that I can get every penny and then more than I ever put into my pension fund.

[EricTh]

5 hours ago, ThailandRyan said:

What do you want, 1 baht, 2 baht, 3 baht, 5 baht, or 10 baht bars.  Aurora has branches through Thailand.  I buy them in 2 baht, and 5 baht bars.  However, with gold prices dropping I will be buying a 10 baht bar here soon.  Add it to the pile in the safe, for a rainy day when the prices increase again or for old age.

What about Hua Seng Heng? How does it compare with Aurora?

 

 

 

[EricTh]

1 hour ago, PeachCH said:

Not the right time to buy gold now. Could dip further in the next few weeks. 

Gold will not go as low as bitcoin, so it's still a good investment.

 

[Regyai]

2 hours ago, ThailandRyan said:

I have never notice any higher charge from them versus buying from the shops on Yaowarat Road, in China Town here in BKK.  As they are not gold ornaments, such as intricate bracelets or other Jewelry like rings, those can have a surcharge of 500 to 1000 Baht charged for the workmanship.  For the bars I have been paying between 400 baht more than the daily spot price, for each of bars, and for which gold is selling for that day. The bars are 96.5% gold.  You also need to watch them weigh the object as well as getting it in writing along with any warranty they may have. 

Never paid any over spot 'commission' at all on 10 baht bars in Yaowarat Road

[ThailandRyan]

22 minutes ago, EricTh said:

What about Hua Seng Heng? How does it compare with Aurora?

 

 

 

Same prices as far as the shop fees.  I have never seen a difference between China Town shops and Aurora.  I just picked up a 2 Baht gold bracelet for the GF on Thursday at Aurora, they even gave us 2 nice whisky glasses, and a small travel bag as a gift.  However, YMMV.

[ThailandRyan]

21 minutes ago, Regyai said:

Never paid any over spot 'commission' at all on 10 baht bars in Yaowarat Road

Your saying you paid the days spot gold price and the shop did not add in a shop commission of 400 baht.  If that's the case then the shop either charged you a little more or they actually lost money or broke even o the sale for the day.  Never seen a shop whether its a gold shop or a restaurant that gives away the item for the same price they paid for it, have to make a profit somehow to cover costs........

[Bill97]

16 minutes ago, ThailandRyan said:

Your saying you paid the days spot gold price and the shop did not add in a shop commission of 400 baht.  If that's the case then the shop either charged you a little more or they actually lost money or broke even o the sale for the day.  Never seen a shop whether its a gold shop or a restaurant that gives away the item for the same price they paid for it, have to make a profit somehow to cover costs........

You forget that the shop’s cost is not necessarily equal to the spot price.  They might have bought it in the past at a lower price or bought options or futures at lower costs.

[Dazinoz]

55 minutes ago, ThailandRyan said:

Your saying you paid the days spot gold price and the shop did not add in a shop commission of 400 baht.  If that's the case then the shop either charged you a little more or they actually lost money or broke even o the sale for the day.  Never seen a shop whether its a gold shop or a restaurant that gives away the item for the same price they paid for it, have to make a profit somehow to cover costs........

I goto  a shop in Warorot Market it Chiang Mai. 1 and 2 baht bars its the published price plus 200 baht/baht buy or sell. For 5 baht and above (have bought and sold 5 and 10 baht) only ever pay the published price and I always check before going in. The other week I took a 10 baht bar in and said I wanted to sell and get a 5 baht bar and the rest in cash. Only published prices used and cash straight to my bank account.

 

I have often wondered how they make money but obviously do. I have used them for years.

 

A guy in Chaing Rai posted on here enquiring He was going to buy 40 baht so I sent him scan of their card so he was to make a trip and it was going to save him a small fortune in commission. So if you plan to buy a 10 baht bar come for holiday to Chiang Mai and I will tell you shop and you can save 4000 commission.

[allanos]

Quote: "Gold will not go as low as bitcoin, so it's still a good investment".

 

Not really sure what this means. 

 

Both of these assets are volatile. Ten years ago, Bitcoin was trading at below six US dollars

per coin. Today, it is in excess of $20k, having reached a high of close to $70k a few months

ago.

 

Ten years ago, gold was trading at 1585.00 per fine ounce, today at $ 1707.00. It reached a

high of $ 2074.00 in August, 2020. However, in ten years it has essentially gone nowhere.

 

Now, one can cite various arguments as to which one of these assets, one physical, the

other crypto, is better, and depending probably on what your reasons are for favouring

one over the other, given a choice.

 

Arguably, though, what would seem clear is that the days of gold being seen as a long-term

store of value are probably numbered, and perhaps more especially because of the era of

high inflation which appears to have set in for the western world particularly.

 

Bitcoin, especially when the next halving event comes around, even in inflationary times, is

likely to go a lot higher (but don't hold me to this, Lol)!

 

 

[Richard 2020]

7 hours ago, proton said:

Berechnen sie nicht mehr als gewöhnliche Goldläden?

No, 100% not!

[Richard 2020]

Buying gold has already paid off!

 

when I came to Thailand, one baht gold has cost about 5000.-THB!
So,sure I bought first!
Unfortunately, I have not kept everything ????

[Lacessit]

Buy at one of the established gold shops in the shopping malls. They usually provide hallmarks and certification.

IME, it doesn't matter where one sells gold in Thailand, it's just a question of the selling price, and the commission.

I would be hesitant about buying gold in a market. Gold-plated tungsten is nearly indistinguishable from gold in terms of density, a Rockwell hardness meter would be needed to tell the difference.

[BangkokHank]

4 hours ago, EricTh said:

What about Hua Seng Heng? How does it compare with Aurora?

 

 

 

I buy my gold bars at a branch of Hua Seng Heng at a shopping mall near my home. I think they are very trustworthy.

 

They have a small spread of 50 THB per baht weight of gold (about .17% at current prices) between the buying and selling prices, which widens to 100 THB on the weekends.

 

You can check their prices online at https://www.huasengheng.com. They also have a smartphone app with their latest prices.

 

[Dazinoz]

10 minutes ago, Lacessit said:

I would be hesitant about buying gold in a market.

Not sure if you are referring to my saying about gold shop in Wororot market.

 

Wororot Markets is an area in China town area of Chiang Mai with many many gold shops and even though they are in a market area they are not a market shop.

[EricTh]

1 hour ago, BangkokHank said:

I buy my gold bars at a branch of Hua Seng Heng at a shopping mall near my home. I think they are very trustworthy.

 

They have a small spread of 50 THB per baht weight of gold (about .17% at current prices) between the buying and selling prices, which widens to 100 THB on the weekends.

 

You can check their prices online at https://www.huasengheng.com. They also have a smartphone app with their latest prices.

 

 

Do they have a branch in Chiang Mai? 

 

[AustinRacing]

If you want to get into investing or trading in gold buying from gold shops is not the cheapest way. Siam Gold App is what we use. You need to register with them and put a deposit. You can buy and sell online anytime at lower commission than gold shops. If you want the actual gold bars you can collect them from their place otherwise leave them in your account. 

[Bill97]

2 hours ago, Lacessit said:

I would be hesitant about buying gold in a market

Some of the most established shops are in the Warrot market area.  Excellent reputations. There many decades before the first mall opened in Thailand.

[Scott]

A foreign language post has been reported and removed.

 

[CH1961]

18 hours ago, ThailandRyan said:

Aurora has branches through Thailand.  I buy them in 2 baht, and 5 baht bars. 

I would like to see a 2 or 5 Baht bullion from Aurora. 

All the shops where I tried to buy, had only 1 Baht bullions. 

Even on their website they do not offer them. 

Are you telling fairy tales? 

 

[CH1961]

6 hours ago, AustinRacing said:

buying from gold shops is not the cheapest way. Siam Gold App is what we use.

How old are you? 

You playing around with a 'gold-app' ????

When you grow up you will learn one important thing in gold investment:

 

not your bullion, not your gold ????

[ThailandRyan]

1 hour ago, CH1961 said:

I would like to see a 2 or 5 Baht bullion from Aurora. 

All the shops where I tried to buy, had only 1 Baht bullions. 

Even on their website they do not offer them. 

Are you telling fairy tales? 

 

Ordered, all you have to do is ask the manager. The same anywhere that does not have it in the case.  Had a Ring made for the GF as well from a shop, took 2 weeks, but it was delivered.