What does this sign at the gold shop mean?

[topswijaya]

Dear all,

What does this sign at the gold shop mean?

Thanks

 

Edited August 19, 2023 by topswijaya

[FriendlyFarang]

The first picture is the current sell/buy rate for gold bars per baht

the second is the buy rate for gold jewelry, the first one per baht, the second per gram

Edited August 19, 2023 by FriendlyFarang

[topswijaya]

the difference is so small ( 100 bht per 15.2 gram gold bar)

[Celsius]

Typical newbie.

 

Probably thinking it must be so easy to trade gold selling it to shops. Kinda like buying a condo in Thailand and if it does not work out you can always sell it for a small loss.

 

Except there is this small thing called commission.

 

lol

 

18 minutes ago, topswijaya said:

the difference is so small ( 100 bht per 15.2 gram gold bar)

 

Edited August 19, 2023 by Celsius

[Lemsta69]

You'd have yourself a lot of trouble if you learnt how to use Google Lens live translate function. I'm lost in Thailand without it.

[topswijaya]

1 hour ago, Celsius said:

Typical newbie.

 

Probably thinking it must be so easy to trade gold selling it to shops. Kinda like buying a condo in Thailand and if it does not work out you can always sell it for a small loss.

 

Except there is this small thing called commission.

 

lol

 

 

Is there commission on selling gold?

[VinnieK]

First number is the price of gold per baht. ...(the weight measure, not the currency)

Second, per gram 

 

 

 

 

[Walker88]

First number is if you're buying for your bargirl.

 

Second number is when your bargirl sells it back so she can buy what she really wants.

[Reginald Prewster]

10 hours ago, Celsius said:

 

Probably thinking it must be so easy to trade gold selling it to shops. Kinda like buying a condo in Thailand and if it does not work out you can always sell it for a small loss.

Funny, but you are right...

 

since 2005 my wife has put a major part of my offshore income into solid Gold and as I realized it,

I thought exactly the same. "Oh darn, that will be after commissioning fee a huge loss..." 

 

2011 she was throwing almost the whole stock out with the result that a happy Gold Shop owner made a fat commisioning and a happy husband kissed his wife, because she doubled my pension in 3 years.

(Lots of this gold was pawned in from some bar girls in Pattaya Darkside who never came back... thats what doubled it because she gave only a fraction of the Gold price as a loan) 

 

2013 she threw our pension savings back into the Gold Shop (This time without the cheap bar girl Gold) and I was freaking out again...

This time more like: Darn, why you push your luck twice? Such things happen only once in a lifetime! 

(You feel so helpless when you are on a ship and she tells you this in a video call) 

 

In April this year she sold again and and our retirement box almost doubled again, now she is waiting for the next collapse and we agreed only 50% goes from our pension account...

 

I told her to wait until it's down to (WTF I do know about Gold trading, I am not a Thai Woman LOL) 

 

Gold is sure profitable as long you have the time to wait for it...

If you need the money liquid, don't invest in Gold... 

 

There are no quick money making solutions in the world 

 

[Lacessit]

9 minutes ago, Reginald Prewster said:

Funny, but you are right...

 

since 2005 my wife has put a major part of my offshore income into solid Gold and as I realized it,

I thought exactly the same. "Oh darn, that will be after commissioning fee a huge loss..." 

 

2011 she was throwing almost the whole stock out with the result that a happy Gold Shop owner made a fat commisioning and a happy husband kissed his wife, because she doubled my pension in 3 years.

(Lots of this gold was pawned in from some bar girls in Pattaya Darkside who never came back... thats what doubled it because she gave only a fraction of the Gold price as a loan) 

 

2013 she threw our pension savings back into the Gold Shop (This time without the cheap bar girl Gold) and I was freaking out again...

This time more like: Darn, why you push your luck twice? Such things happen only once in a lifetime! 

(You feel so helpless when you are on a ship and she tells you this in a video call) 

 

In April this year she sold again and and our retirement box almost doubled again, now she is waiting for the next collapse and we agreed only 50% goes from our pension account...

 

I told her to wait until it's down to (WTF I do know about Gold trading, I am not a Thai Woman LOL) 

 

Gold is sure profitable as long you have the time to wait for it...

If you need the money liquid, don't invest in Gold... 

 

There are no quick money making solutions in the world 

 

Gold is not an investment. It's a currency hedge, and with governments world-wide busy printing money, quite a good one.

I have never lost money buying and selling gold, although I must say your wife has out-performed me considerably. She's a keeper.

[2baht]

12 hours ago, Lemsta69 said:

You'd have yourself a lot of trouble if you learnt how to use Google Lens live translate function. I'm lost in Thailand without it.

About time you had a crack at learning the local language!

[Lacessit]

1 hour ago, 2baht said:

About time you had a crack at learning the local language!

I am reasonably proficient in verbal Thai. Not fluent, but I can converse with most Thais adequately.

Written Thai is a much more difficult dimension, particularly when the words are all strung together.

[Celsius]

2 hours ago, Lacessit said:

Gold is not an investment. It's a currency hedge,

 

It is a very bad hedge, same as bitcoin.

 

If Gold was currency hedge the price would be much higher today/

 

I bought some gold (only 7oz) in 2012 at the price of around $1600. Today the price of gold is what.... not even $1900. Yes, I bought at the top, but even if this was the case the prices of everything tripled since 2012.  I bought me a condo in Toronto for 235k now it is 600k.... and I only invested 25% of that money.... the rest was a bank loan which was paid by my tenants.

 

BTW, if I sold that condo today they bank would be paying me minimum $2300 monthly for a term loan in Canada. With that I could buy 1oz of gold every month, but I don't want to because it is a lousy henge. Instead for physical things I buy Star Wars and Lego. Yeah.... you heard that right.

 

 

[Lacessit]

3 hours ago, Celsius said:

 

It is a very bad hedge, same as bitcoin.

 

If Gold was currency hedge the price would be much higher today/

 

I bought some gold (only 7oz) in 2012 at the price of around $1600. Today the price of gold is what.... not even $1900. Yes, I bought at the top, but even if this was the case the prices of everything tripled since 2012.  I bought me a condo in Toronto for 235k now it is 600k.... and I only invested 25% of that money.... the rest was a bank loan which was paid by my tenants.

 

BTW, if I sold that condo today they bank would be paying me minimum $2300 monthly for a term loan in Canada. With that I could buy 1oz of gold every month, but I don't want to because it is a lousy henge. Instead for physical things I buy Star Wars and Lego. Yeah.... you heard that right.

 

 

Comparing gold to bitcoin IMO is utterly ridiculous. Bitcoin is a stream of electrons in cyberspace. It is akin to a religion, in that it can't be touched, seen or felt. No-one can say that about physical gold.

Gold does fluctuate in value. However, its variation has nothing on bitcoin, which at several stages has lost about 80% of its value, the most recent being late 2022.

I'd agree property is a good investment, although as I type there are quite a few mortgage holders in Australia under extreme stress.