Buying Gold

[rhino533]

Does anyone know the best place to buy gold is in Bangkok? What brands of Gold would you recommend? I'm looking to invest about 1,000,000 baht in Gold. Any suggestions would be great! Thanks!!!

[chiang mai]

Does anyone know the best place to buy gold is in Bangkok? What brands of Gold would you recommend? I'm looking to invest about 1,000,000 baht in Gold. Any suggestions would be great! Thanks!!!

Presumably you mean bullion? That being the case few buyers actually take delivery and suggest you look at HSBC Hong Kong for their bullion service. In case you do not refer to bullion and mean gold jewelry instead - there is a small shop on Silom that sells necklaces and the like, the only one I've ever seen in the Kingdom!

[Norrad]

Presumably you mean bullion? That being the case few buyers actually take delivery and suggest you look at HSBC Hong Kong for their bullion service. In case you do not refer to bullion and mean gold jewelry instead - there is a small shop on Silom that sells necklaces and the like, the only one I've ever seen in the Kingdom!

LOL Yip, gold shops are rare in Thailand. Almost as rare as Tuk-Tuks. But seriously, if you want to buy gold, there are gold shops almost everywhere. Their prices don't vary much and it's slightly cheaper if you are buying bullion as there is no design fee.

[JimsKnight]

As a matter of interest, where do people normally store their gold? I'm assuming safety deposit boxes or do some just use swanky safes built into the house?

Unless you live here 24/7 365 days a year it's going to be a bit risky just leaving it in LOS isn't it?

[Naam]

Does anyone know the best place to buy gold is in Bangkok? What brands of Gold would you recommend? I'm looking to invest about 1,000,000 baht in Gold. Any suggestions would be great! Thanks!!!

perhaps Singha Gold?

[chiang mai]

As a matter of interest, where do people normally store their gold? I'm assuming safety deposit boxes or do some just use swanky safes built into the house?

Unless you live here 24/7 365 days a year it's going to be a bit risky just leaving it in LOS isn't it?

Most sensible people leave it with me for safe keeping because I take such good care of it. PM for details of this service if you like.

[gregb]

The Thai gold market is a very domestic thing.

If you actually want gold that can be reliably sold overseas (such as coins or 99.999% bullion), then Singapore is the place you want to go. There is no real market for bullion other than Thai bullion in country.

For Thai bullion, pretty much every gold shop sells 10 baht bars. Just pay the price on the window x10. You'll probably need to hit a few of them, because I doubt any of them will have 7 bars sitting in inventory.

If any of them try to charge you a fee for craftsmanship for the bars (some will try), just walk away and use another shop. You don't say your purpose for investment, but like most things in this country, you either do it the Thai way, or else you head south to Singapore.

[Naam]

As a matter of interest, where do people normally store their gold? I'm assuming safety deposit boxes or do some just use swanky safes built into the house?

Unless you live here 24/7 365 days a year it's going to be a bit risky just leaving it in LOS isn't it?

Most sensible people leave it with me for safe keeping because I take such good care of it. PM for details of this service if you like.

until now i had no reason to mistrust you. but one of these days i will ask you to prove to me that all bottles of Singha Gold i deposited with you are still full and sealed.

[chiang mai]

As a matter of interest, where do people normally store their gold? I'm assuming safety deposit boxes or do some just use swanky safes built into the house?

Unless you live here 24/7 365 days a year it's going to be a bit risky just leaving it in LOS isn't it?

Most sensible people leave it with me for safe keeping because I take such good care of it. PM for details of this service if you like.

until now i had no reason to mistrust you. but one of these days i will ask you to prove to me that all bottles of Singha Gold i deposited with you are still full and sealed.

Fear not, your assets are still liquid.

[rhino533]

Thanks for the posts, are there any good gold investment websites where you can buy and sell gold online? Never actually touch the gold just buy it for the trading price and sell it when you want too. I have seen some but really don't know which ones are good and which ones have reasonable fees. I want to buy bullion not jewelry. Thanks!

[Orangutan]

http://www.kitco.com/

-O

[johnnyk]

Bit late now, isn't it?

[soundman]

Bit late now, isn't it?

Maybe he knows something.

[naka]

Safest bet is "Credit Suisse" bullion bars.

You can buy over the counter at most banks in Singapore but dont know about Thailand.

Perhaps the big gold shops in Yowarat, Bangkok sell them, or some banks.

Naka.

Edited January 13, 2008 by naka

[blizzard]

buy at 1,000,000 baht, just like car, as soon as you take delivery you own 800,000 worth.

buy gold from merril lynch, they aint going anywhere.

Edited January 13, 2008 by blizzard

[jberwick]

Bit late now, isn't it?

Maybe he knows something.

Not even close. The party has yet to start. Gold over $2,000 will be cheap in less than 2 years.

[PCA]

Bit late now, isn't it?

Maybe he knows something.

Not even close. The party has yet to start. Gold over $2,000 will be cheap in less than 2 years.

only in your dreams.

[LivinLOS]

Perth mint certs.. fully guranteed and no storage fees, can be converted into bullion or with a coinage fee to coins in many bullion centers worldwide..

Or gold ETF's but thats not as secure as physical if your a real 'world gonna end' mentality..

As to gold at 2k.. Think theres a ever increasing shot looking at the way the world and markets are turning.. Think 2 years is hopeful tho take more time for some of the souring and mania in my guess.

[Naam]

Bit late now, isn't it?

Maybe he knows something.

Not even close. The party has yet to start. Gold over $2,000 will be cheap in less than 2 years.

something like this the goldbugs claimed 28 (twenty-eight) years ago.

[cclub75]

Not even close. The party has yet to start. Gold over $2,000 will be cheap in less than 2 years.

Let's talk about "physical gold"

Even though I believe price can go higher, I think we should remember the elasticity of the market.

At 13 000 THB per bath the market is drying up in Thailand : lot of people willing to sale, few to buy.

Check this article in Bangkok Post : "Goldsmiths loosing jobs"

Export is now the only way.

[bloody tiger]

Presumably you mean bullion? That being the case few buyers actually take delivery and suggest you look at HSBC Hong Kong for their bullion service. In case you do not refer to bullion and mean gold jewelry instead - there is a small shop on Silom that sells necklaces and the like, the only one I've ever seen in the Kingdom!

LOL Yip, gold shops are rare in Thailand. Almost as rare as Tuk-Tuks. But seriously, if you want to buy gold, there are gold shops almost everywhere. Their prices don't vary much and it's slightly cheaper if you are buying bullion as there is no design fee.

I have explained to my wife on numerous occasions that Thai gold shops, by law, are not permitted to sell to foriegners.....otherwise i would buy her some gold every week

[Naam]

I have explained to my wife on numerous occasions that Thai gold shops, by law, are not permitted to sell to foriegners..... otherwise i would buy her some gold every week

[blizzard]

aer there a lot of gold shops in issarn? you know, too keep the missus happy.

[Misty]

buy gold from merril lynch, they aint going anywhere.

merrilll lynch aren't going anywhere either, with a little help from the Singaporeans and now it seems, other investors..

[Misty]

I'm sure there's other ways to do it, but you could try iShares COMEX Gold Trust (IAU). Just get a good discount broker (sorry merill's,merril's and even merrill's don't qualify here).

[andreme]

As a matter of interest, where do people normally store their gold? I'm assuming safety deposit boxes or do some just use swanky safes built into the house?

Unless you live here 24/7 365 days a year it's going to be a bit risky just leaving it in LOS isn't it?

I beilieve in a safe at home, typically, but I've heard that in western Australia, you can buy gold and have it stored and insured in the same location.

[Abrak]

For a Bt1m investment probably the most sensible thing to do is to buy the gold ETF on the NYSE - GLD. This is essentially just a large block of gold whose shares trades at one tenth of the value of physical gold. You wont need to worry about where to store it and the buy/sell spread and brokerage fees are minimal compared to physical gold.

[simcity]

As a matter of interest, where do people normally store their gold? I'm assuming safety deposit boxes or do some just use swanky safes built into the house?

Unless you live here 24/7 365 days a year it's going to be a bit risky just leaving it in LOS isn't it?

I beilieve in a safe at home, typically, but I've heard that in western Australia, you can buy gold and have it stored and insured in the same location.

Perth Mint precious metals certificates are government guaranteed and have no storage fees.

It can be then :

Allocated (segregated) Coins or Bars – You have title to specific coins and or bars, which are placed in a physical form in the PMCP storage facility. You pay the quoted precious metal cost, fabrication charges and storage fees at the time of your purchase.

Unallocated (un-segregated) Bullion – You have title to precious metal deposited in a storage account. You pay only the precious metal cost at the time of your purchase. You pay No storage fees on this option. Unallocated metal shall be converted to Allocated metal within ten days of your instructions to do so (fabrication fees apply should you wish to convert from Unallocated to Allocated)