Goldshops And The Ripp Off,,,practice Against Thailaw

[lapamita]

i am a goldfan since already 2001, and i am just keeping, mostly in bulllion coins and nominal facevalue comodetive issues like the thaibaht coin 9000,12000,16000thb coins.

but even me hhhaving 10 baht in gooldchain in the saebox.

but the girls here seen it diffrent.

in the good old times before 2006,,, the goldshops issuing buy and sell price with a spread of 100 thb, if bought from the SAME SHOP. te SHOP IS FORCED BY LAW TO TETURN THEIR OWN GOLD waht is stamped from the shop TO REDUCE FRAUD of % gold 97% by law. the work for a 1 baht chain was 500 arround at this time

within 2007 some goldshops fraud people by introducing lower goldgrade ) bangkokpost )

within middle of 2008,,,the shops work contrair the laws. first for work they overcharging due to less clients up to 1500 baht for a 1 baht chain, but thats legal and up to the shop.

if it comes to resale the gold,, many shops dont pay the legal price, thats up to them and reduce price by 1000 per baht.

so my girlfriend she want to sell, and i told her go to same shop where you buy the gold ( rayong) , as we went to the shop, who sold 1,5 baht last year, we excpect to get the legal price from this seller. it was 17.200 anounced outside by law. they try to cut over 2000 THB per baht from the offical buy price announced.

THIS IS ILLEGAL. even other shops would pay more, she told in a bad manner, that the goldprice is high and she have still profit, thats not the case profit or loss, its worldmarketprice.

i try to force my girlfriend to make a report to policestation,,,but you know the thais zhey dont want trouble.

many shops in rural areas sheeting their own people, and most people sell gold not having money or education, so they accept this behavour of them.

the goldprice down or up doesnt matter for the shop due to the fact

if they buy 50 gold baht at for example 20000 at same time they buy a futurecontract at the goldexchange at 20000 on falling prices ,cost 1000thb commision or 20 baht per thaibahtgold. so their is in any reason no way to cut when it goes to reselling.

the law force the shop tio buy back their OWN SOLED GOLD at fixed priice.( again not other shops who buy gold,they must nbot by law)

i think this all has to do with the fact of less customers in the shops, and they want take more profit from the rest of the customer. so for now their is one customer less,,, i prefer buy bulliion or at the lienthai the centralbank in thailand , the goldissues.their you dont loose money

i have to tell, that shops in chinatown or MBK ) the gig ones ) dont have this behavour like shops in rural area

if you buy a goldchain or whatever, force the shop to agree, that if this gold is sold back to the shop, that they buy it for buy price announced at the entrance,,dont belive their WORD anymore

[givenall]

Who told you can make money buying gold or any jewels. It is a fantasy created by the jeweler to sell this to customers especially ladies

[Samuian]

to sell, pawn and buy back gold is the gold traders business, to go any further would be superfluous!

[lapamita]

Who told you can make money buying gold or any jewels. It is a fantasy created by the jeweler to sell this to customers especially ladies

maybe on jwewels,bcs you need an understanding, that most people icl me , not have

but dont tell you cant make money on gold, i think you have no understanding about the market.

and i dont want to explain you the market and why you can win as well loose.

its about the spread from buying to selling in the shops what increased from 2003 about 5% to today 20% ( incl work and comm.)

its about law and shop behavour,,, the thai gold traders association,, not answer mail, and telefons in bangkok are offline except an automatic answer machine.

but tell me how you can loose money for example at a 1 baht thaibahtcoin with facevalue of 16.000 thb and salesprice of 16.000 ( last year,last issue) with a 1 baht weight of gold ) at this time 13500 )

the centralbank pay you at any time 16.000 THB back , even when goldprice go to 0,00

or teh frenchcentralbank issue of euro 250 ( senerin2009 goggle search) could be returned to any bank in europe at facevalue salesprice 250 euro and its backed by gold 8,5gr 205 euro goldvalue) . i bought later bcs cant get more than 1 at issueprice, i payed 280 euro,,,ok maximum loos is 30 euro,,, but goldvalue can go up...and its a goldbacked currency

its bullshit to tell on gold you cant make money

[lapamita]

to sell, pawn and buy back gold is the gold traders business, to go any further would be superfluous!

YES its up to them, they can buy or not ,and at any price,,,but

THE SHOP WHO SOLD THE GOLD AND STAMPED THE GOLD ( shopstamp) IS FORCED BY LAW TO TAKE BACK AT THE FIXED PRICE ANNOUNCED DAILY AT GTA THAI.

this fact is due to the reason, that a goldshop cant fraud and issue gold with lower grade and other reasons