Buying gold at a gold shop

[watgate]

Just wondering, especially since the price of gold has risen significantly, if one has to be concerned about buying gold and whether or not it is the real stuff and not some fake looking  realistic looking stuff? There are gold dealers all over Thailand and are their any safety standards in place to ensure that what one is buying is actually gold or is it buyer beware?

Edited April 4 by watgate

[rexpotter]

I have purchased the 1baht little wafers, and made a little bit from it. You must keep your receipt in perfect condition and onlyy resell it to the place you bought it from. Forget the jewelry.

[rexpotter]

1 minute ago, rexpotter said:

I have purchased the 1baht little wafers, and made a little bit from it. You must keep your receipt in perfect condition and onlyy resell it to the place you bought it from. Forget the jewelry.

Check the spread, usually 2%,. So gold has to go up 3 % increase in value to buy a free meal.

[digbeth]

the only guarantee is that on bigger piece or bullion will be stamped with the shop's hallmark, and of course they'll buy it back

bigger brands/chains from Bangkok Chinatown is probably better known and more accepted

[SAFETY FIRST]

1 hour ago, watgate said:

Just wondering, especially since the price of gold has risen significantly, if one has to be concerned about buying gold and whether or not it is the real stuff and not some fake looking  realistic looking stuff? There are gold dealers all over Thailand and are their any safety standards in place to ensure that what one is buying is actually gold or is it buyer beware?

Where are you located?

 

I've bought a lot of gold from gold shops in Pattaya, if you are local I can suggest a couple of shops. 

 

 

 

[lkn]

On 4/4/2024 at 4:02 AM, rexpotter said:

Check the spread, usually 2%,. So gold has to go up 3 % increase in value to buy a free meal.

Some shops may also have additional fees when buying/selling.

 

Granted, I asked about jewellery, and for this there was a design fee when buying and a “melting fee” when selling, though I also asked about the bullions, and apparently the price shown on their digital display was only for members, I didn’t bother asking what it required to become a member because it just seemed like gold in Thailand is a way to extract money from financial illiterate people…

[dinga]

On 4/4/2024 at 9:02 AM, rexpotter said:

Check the spread, usually 2%,. So gold has to go up 3 % increase in value to buy a free meal.

Nonsence  -  the spread is 100 baht per 1 Baht Gold Bullion (currently Buy 41,050  Sell 40,950 per 1 Baht Gold)

 

https://goldtraders.or.th/

[zhounan]

Whatever you decide, don't tell your wife/girlfriend. 

[kwak250]

You don't need any recommendations 

Any large gold shop is safe.

 

[kwak250]

On 4/4/2024 at 3:02 AM, rexpotter said:

Check the spread, usually 2%,. So gold has to go up 3 % increase in value to buy a free meal.

Have you even bought gold?

 

[kwak250]

On 4/4/2024 at 2:59 AM, rexpotter said:

I have purchased the 1baht little wafers, and made a little bit from it. You must keep your receipt in perfect condition and onlyy resell it to the place you bought it from. Forget the jewelry.

You can sell anywhere
never shown a receipt when selling

This right here is the reason to never listen to bs on asiannow

 

[KhunLA]

Thai Gold is a decent investment in TH, if past increases are to remain.   Remember buying/selling at 3-6-10-12-20k baht over 20+ years.  Now 41k+ baht.  

 

 

TH gold is soft, so easy to distinguish from fake gold.

 

 

Edited April 15 by KhunLA