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Is your Gold really Gold?


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Crime is everywhere. Fake Gold on the increase. As I gather, with the help of Bismut/Wismut the specific weight of Gold can nowadays be imitated. Therefore only the surface must contain Gold, what's inside is not Gold. Final proof can only be detected, when a Gold-Bar is sawed in 2 to see "what's inside" (for example). True/False?


Some true "Gold-Bugs" here (having worked in the jewellery/gold business) may be able to shed some light on this.

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I saw that in a Thai jewelry shop they used a torch to (I think) melt a little of the gold to check if it was real.

I guess if someone is experienced then they should have a good idea what to expect.

 

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On 5/22/2024 at 7:59 PM, OneMoreFarang said:

I saw that in a Thai jewelry shop they used a torch to (I think) melt a little of the gold to check if it was real.

I guess if someone is experienced then they should have a good idea what to expect.

 

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That's just the problem: Just to scratch the surface won't disclose what's inside. Tungsten/Molybdenum?


I know, this hasn't made the headlines yet, but there are Mafia-Structures emerging, specialising on this scam. The profit margin is phantastic.


- Above, "david555" has provided a link. A must read for all that are involved in buying/selling physical Gold on a regular basis.

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DELIVERANCE AT LAST !


I must no more earn my living in Pattaya as an Elvis impersonator. I'l just buy a Gold testing device (see post from david555 above).


Equipped with this device, I will hop from bar to bar, adressing the ladies with: "Hey sugar babe, for 100 BHT I will test your Gold". I will get rich, get a lot of free drinks and get a lot of  admiring looks from the ladies. Maybe more.


Eureka!

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4 hours ago, Digitalbanana said:

Investing in gold ETFs or futures and there's no need to worry about fake stuff or storage and security costs.

In case the ETF is backed by physical Gold/Silver a "carrying-charge" is incorporated in the price of the ETF. Currently the carrying charge for Gold and Silver is near 8% per year. Few people realise this.


In the case of futures, this carrying charge is reflected in form of a "Contago-Situation". (Every time you "roll" a future to a more distant contract, you pay a little more for the new contract).


The opposite is a "backwardation-situation". Very rare! At the moment only happening in crude oil futures.


= There is no free lunch!

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On 5/22/2024 at 7:35 PM, Captain Monday said:

."Purchase from Reputed Dealers Only"

In Pattaya, every 300 meters there is a Gold shop. How do you tell a "reputed" dealer from a "non reputed dealer"? The Thai community in my home country prefer to buy Gold here and not in Pattaya. Among other considerations, a Kruegerrand coin is marketable globally as opposed to some mysterious "Thai-Gold".

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3 hours ago, swissie said:

In Pattaya, every 300 meters there is a Gold shop. How do you tell a "reputed" dealer from a "non reputed dealer"? The Thai community in my home country prefer to buy Gold here and not in Pattaya. Among other considerations, a Kruegerrand coin is marketable globally as opposed to some mysterious "Thai-Gold".

Yeah I wouln’t usually buy in Thailand either but I would like to hoard one of those lumps

 

I offered a Maple Leaf in Chiang Mai in a main shop near warrorot market just to see what would come back with. They said not interested as if “farang”  gold is not wanted. 

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On 5/26/2024 at 9:25 PM, Captain Monday said:

Yeah I wouln’t usually buy in Thailand either but I would like to hoard one of those lumps

 

I offered a Maple Leaf in Chiang Mai in a main shop near warrorot market just to see what would come back with. They said not interested as if “farang”  gold is not wanted. 

On the other hand, I tryed to sell some Thai Gold in Switzerland a couple of years ago. (Jewellery). Banks woulden't touch it. Gold deales wanted to send it to an "assayer" first. Best offer finally was 30% below Gold price per Oz. Sold it eventually in Thailand for a fair price.


Apart of this: In a time of "crisis", how much would one get for Gold on the black market? 1 loaf of bread for 1 Oz of Gold?


Seems that shortly after WW2 the Germans that had US $ fared better than "Gold-Owners".
But that's another story.

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