Gold In Thailand

[NotaNutter]

I want to buy some gold, say 1M baht, and put it in a bank's safe deposit box for about 10 years until I retire as everybody seems to be saying it's going up. Even if it doesn't go up it will at least diversify things a bit. I've already sorted out a safe deposit box at HSBC Bangkok (very reasonable rate by the way). I know there are lots of Gold shops in Chinatown, but is there a proper honest dealer to buy a large-ish amount like 1M baht in Bangkok? Or should I just buy lots of heavy gold chains in Chinatown?

[alex100]

Unlikey you would get a discount mabey a small on ask around it is sold on weight and how complex the design is if you want to buy gold as an investment just get small bars - or buy some paper futures. Same effect.

[kreon]

I want to buy some gold, say 1M baht, and put it in a bank's safe deposit box for about 10 years until I retire as everybody seems to be saying it's going up. Even if it doesn't go up it will at least diversify things a bit. I've already sorted out a safe deposit box at HSBC Bangkok (very reasonable rate by the way). I know there are lots of Gold shops in Chinatown, but is there a proper honest dealer to buy a large-ish amount like 1M baht in Bangkok? Or should I just buy lots of heavy gold chains in Chinatown?

<{POST_SNAPBACK}>

i just buy up 5-25 baht gold bars, you only pay the listed gold price and not the extra for workmanship on jewelry, good choice with hsbc!

[NotaNutter]

The misses keeps telling me that the best place to buy gold is Chinatown. Do the shops in Chinatown offer a better rate, or is the daily gold rate pretty much fixed across Bangkok?

[alex100]

As i said earlier you need to shop around

[Digger]

From what I found out, the price for buying it back which is fixed to the window is if you brought if from that shop in the first place. I have never found a gold shop willing to pay the price on the window unless I had purchased it there. Sounds crazy but thats my experience on gold bars (between 10 and 25 Baht in weight). Dont bother with jewellery if its an investment, just stick with gold bars. Also the reason for Chinatown is that they are reputed to sell good gold, not some knock off copy and the shop is likely to be there if you need to sell it back. They will offer you the option of having the bar embossed with their unique stamp. I did but I really have no clue what difference it makes, other than they can tell that they sold it before.

Oh by the way, Thai gold prices bear little relation to US gold prices - again wierd but true. I bought when gold was low around 9th February at 7750 baht and 408 US$ I think. When US$ price went up to approx 448, the baht price was 8050 so an increase of about 3-4% versus a US$ increase of 10%. Then the US $ gold price tumbled back to about 420 but the Baht price was still 8,000 - go figure that one on a supposed International tradeable material.

If I did it again I would just buy Perth paper notes saying I have XXX gold as the spread between selling and buying price is very small.

[chuchok]

The misses keeps telling me that the best place to buy gold is Chinatown. Do the shops in Chinatown offer a better rate, or is the daily gold rate pretty much fixed across Bangkok?

<{POST_SNAPBACK}>

Just to add a bit to what Digger has already mentioned, some of the gold shops in China Town sell a product with a slighlty higher percentage of gold, than is found in the normal(If you can call them that) shops around LOS.I believe the term used to describe it is yarorot (Spelling?) gold.

[mbkudu]

   

If I did it again I would just buy Perth paper notes saying I have XXX gold as the spread between selling and buying price is very small.

Wouldn't it better to have the real thing if the sh!t hits the fan? After all, with paper,

all you can do is wipe your arse with it.

[simcity]

i went with the certificats , to be able to trace them and add them into my will. they are in my oversea safe .

The Perth Mint Certificate Program (PMCP) is operated by Gold Corporation, an international precious metals refining, minting and trading group wholly owned by the Government of the State of Western Australia. The Program offers international investors a unique range of precious metal storage facilities on competitive terms. Our facilities are especially suitable for private investors seeking confidentiality and flexibility and a safe haven for their precious metal assets in a turbulent world. The Perth Mint is the only depository operating today that can offer you a Government Guarantee of one of Australia’s wealthiest states. The Perth Mint is operated by Gold Corporation, a unique diversified Australian precious metals group created by statute in 1987, and wholly owned by the Government of Western Australia. The Perth Mint Certificate Program is the only government guaranteed precious metal accumulation program in the world. Transaction confidentiality is provided for under the Gold Corporation Act 1987 and the Perth Mint Certificate Programs administrative procedures.

i got some thai gold for emergency , but anything can happen to here , bank vault get rob ... shop refuse to buy back ... get hit between safe to shop ... misses get it before !...

i do not think anything can be black and white ...

[daxbr]

i went with the certificats , to be able to trace them and add them into my will. they are in my oversea safe .

The Perth Mint Certificate Program (PMCP) is operated by Gold Corporation, an international precious metals refining, minting and trading group wholly owned by the Government of the State of Western Australia. The Program offers international investors a unique range of precious metal storage facilities on competitive terms. Our facilities are especially suitable for private investors seeking confidentiality and flexibility and a safe haven for their precious metal assets in a turbulent world. The Perth Mint is the only depository operating today that can offer you a Government Guarantee of one of Australia’s wealthiest states. The Perth Mint is operated by Gold Corporation, a unique diversified Australian precious metals group created by statute in 1987, and wholly owned by the Government of Western Australia. The Perth Mint Certificate Program is the only government guaranteed precious metal accumulation program in the world. Transaction confidentiality is provided for under the Gold Corporation Act 1987 and the Perth Mint Certificate Programs administrative procedures.

i got some thai gold for emergency , but anything can happen to here , bank vault get rob ... shop refuse to buy back ... get hit between safe to shop ... misses get it before !...

i do not think anything can be black and white ...

<{POST_SNAPBACK}>

Pardon my curiosity. Did you choose segregated or non-segregated account and why?

[trajan]

Instead of going to the gold shops in China town and buying 23 karat (96.5% pure--you hope) gold in 15.244 gram units ("baht"), is there anywhere reputable in Bangkok (like coin dealers etc.) to buy Credit Suisse gold bars, or South African Krugerrands, or Canadian Gold Maple Leafs or the like in purer form?

OR are there any dealers of pure platinum bars?

Edited April 18, 2005 by trajan

[LivinLOS]

I too use Perth Mint for both Gold and silver..

If it gets to the point of the western Oz gov defaulting the shit really has hit the fan.. I would think that the chances are less than the risk of physical gold holding.

Of course you can also buy NYSE:GLD but I prefer perth mint.. Goldmoney is doable for smaller amounts.

[simcity]

Did not choose segregated or non-segregated account,just went with purchase of certificates .

here is the step i took :

http://www.jaggards.com.au/news/medusa/article_6.asp

see at How to order Perth Mint Certificates

they charge 2% AND they did tell me no cost of selling with them ( have to see ) , minimum charge for certificates and tax .

they do platinum , but no palladium ..to buy bar is ok , if you want to have insurance and storage , coin have a premium ( mainly silver )

10000 dollars ( au ) of silver is around 30 kilo , need a big safe for that !

[LivinLOS]

www.kitco.com handles perth certs (very professional) and also provide storage accounts etc..

[NotaNutter]

Thanks for the replies. It seems to me that the Perth Certs at www.kitco.com are the way to go, with perhaps some Thai gold bars stored here aswell.

[octave]

You have been in Thailand too long!

[LivinLOS]

Explain ???

[daxbr]

Instead of going to the gold shops in China town and buying 23 karat (96.5% pure--you hope) gold in 15.244 gram units ("baht"), is there anywhere reputable in Bangkok (like coin dealers etc.) to buy Credit Suisse gold bars, or South African Krugerrands, or Canadian Gold Maple Leafs or the like in purer form?

OR are there any dealers of pure platinum bars?

<{POST_SNAPBACK}>

Johnson Matthey, one of the biggest and most reputable refiners has office in Bangkok. I wonder of they sell or refer you to a retailer who sells gold bullion with their name of it.

Johnson Matthey Ceramics (Thailand) Ltd

12th Floor, SSP Tower

555 Sukhumvit 63 Road

Kwang North Klongton

Khet Wattana

Bangkok

10110

Thailand

Tel: +66 2381 8794

Fax: +66 2 381 8796

[WhiteShiva]

Oh by the way, Thai gold prices bear little relation to US gold prices - again wierd but true.  I bought when gold was low around 9th February at 7750 baht and 408 US$ I think.  When US$ price went up to approx 448, the baht price was 8050 so an increase of about 3-4% versus a US$ increase of 10%.  Then the US $ gold price tumbled back to about 420 but the Baht price was still 8,000 - go figure that one on a supposed International tradeable material.   

<{POST_SNAPBACK}>

I think if you factor in the changes in currency exchange rates, you will find that the two prices are very closely interrelated.

After all, if they were not, someone would immediately exploit the difference, and hence close the gap.

[Harmonica]

Watch the $423 level carefully -- possible trip down to $350 & back up to retest $458 region. Everything depends upon the current 423 level holding -- I have NO opinion on whether this level will hold or fail at this time. Wait & see!

But I do have an opinion on what will happen in 2006 & 2010-2020.

You will all be trying to sell frantically to ANBODY and there will be few takers all the way down to $250-200 region.

Then by 2020 Gold will have flown or be flying upwards and will eventually leave the old $850 high in the dust as it accelerates towards $2,000/ounce.

You've got to ask yourselves this question -- "can I hold onto my stash for the next several years as she completes the last leg of her BEAR market & dives to 200 metres?"

Smarter thing to do is to buy/sell GLD -- if there is trouble and the scenario enacted above looks like it will play out, dumping or buying it will take no more than 5 seconds.

Besides, kreon now knows who the holders of Perth certificates & bullion/bars are! Dangerous!

Just something to consider since you fellas are already thinking!

[expatinasia]

"you fellas are already thinking! "

I'm thinking that you should start drinking decafe.

[Firefan]

He he - Harmonicas predictions are always entertaining!

I hold both a commodities futures fund as well as a mining stock fund. The way that all nations are de-basing their currencies ("let's print some more of this paper to pay for wars/pensions/bigger administration Etc.") with no other guarentees than their word, I think it is wise to hold some metals/commodities/"real stuff" as part of a well diversified portfolio. Cheers!

[CarlBkk]

Another place in BKK to check for gold bullion is YLG:

"99.99%"

YLG Bullion International Co Ltd

soi suan phlu, sathorn [email protected]

It's obviously linked to Yoo Lim Gold, the huge gold and silver jewellery manufacturer.

Haven't bought from them so can't recommend it, but it might be worth comparing to what's available in Yaowarat.

[trajan]

Another place in BKK to check for gold bullion is YLG:

"99.99%"

YLG Bullion International Co Ltd

soi suan phlu, sathorn [email protected]

<{POST_SNAPBACK}>

thanks, I checked with YLG Bullion, they only sell one kilo bars of gold which is too much for me...I was thinking only about 100 grams at a time