Gold Conversions

[bunta71]

Being the genius that you are maybe you can explain in relatively simple terms for the non-genius that owns a calculator. Googled a few places but they never had the chart or conversion tables that I was looking for. I always wondered about this but the burning question of where to get my next burger always overshadowed my ability to find out. Much like my belly overshadowing finding out what lies below it. Last time I stood at a urinal the guy next to me said I needed to diet! So I asked him what color is it now??? Kinda the same overshadowing theory...

[Farma]

Baht - Gram - Troy Ounce

Weight Conversion Table

1 baht

15.1 grams

.482 troy ounces

2 baht

30.2 grams

.965 troy ounces

3 baht

45.4 grams

1.447 troy ounces

5 baht

75.6 grams

2.411 troy ounces

10 baht

151.2 grams

4.823 troy ounces

20 baht

302.4 grams

9.645 troy ounces

[Bill97]

The above numbers are weight conversions, right? If so, they are not gold conversions which can be used to compare ounce prices which are based on 100% or 99.9% pure to Thai weight prices which are not 100% pure. What is the purity percentage for Thai gold sold in the local gold shops? Google says it may be 96.5% by government regulation but what is it really?

Edited October 9, 2008 by Bill97

[Farma]

This was described to me almost word for word in a gold shop the other day.

Thai gold jewellery usually contains 96.5% gold purity, which is a bit over 23 karat. The remaining of about 3.5% are silver and bronze. Some places also offer 22k, 20k or 18k gold jewellery. A Baht of Thai gold bar are sold in “Baht Weight” or 15.244 grams (15.16 grams for a Baht of Thai gold ornament), a little lower than half of a troy ounce, which is at 31.1034768 grams. 100% gold is considered too soft to make jewellery. As a result, a lower karat is recommended for rings or thin jewellery.

[bunta71]

Do these shops also sell 99.999 pure troy ounces in bar form or something similar and not jewelry?? And thanks for the answers.

[Farma]

I was being offered 10 Baht weight Thai gold (96.5%) bars at the gold price on the day.

Edited to add

The gold shops have a number they call to receive the latest gold price via sms.

Also check around to find a reputable gold shop. In the provincial city where I live, one gold shop won't allow official calibration checks to be made on their scales. All the others do.

Edited October 9, 2008 by Farma