Gold Calculation

[binnsy]

If Gold hits $1200 what will the price be for 1 baht Thai Gold?

Is there a easy way to calculate the price?

[tariq786]

If Gold is $1200 and USDTHB Ex Rate is 32 per Dollar then the price in Baht will be around 18716

[Jonathanpattaya]

If Gold is $1200 and USDTHB Ex Rate is 32 per Dollar then the price in Baht will be around 18716

Thai gold is sold in Baht.

One Baht equals 15.2 Grams and one Ounce equals 28.3 Grams.

Today's price equals about 17,500 Baht per Baht.

Edited February 3, 2010 by Jonathanpattaya

[Naam]

If Gold is $1200 and USDTHB Ex Rate is 32 per Dollar then the price in Baht will be around 18716

Thai gold is sold in Baht. One Baht equals 15.2 Grams and one Ounce equals 28.3 Grams. Today's price equals about 17,500 Baht per Baht.

to the best of my knowledge the international gold price is quoted for one "Troy Ounce" = 31.1034768 grams

[tariq786]

If Gold is $1200 and USDTHB Ex Rate is 32 per Dollar then the price in Baht will be around 18716

Thai gold is sold in Baht. One Baht equals 15.2 Grams and one Ounce equals 28.3 Grams. Today's price equals about 17,500 Baht per Baht.

to the best of my knowledge the international gold price is quoted for one "Troy Ounce" = 31.1034768 grams

Correct. Gold Price is Quoted in Troy Ounce which is 31.1034768 and One Thai Gold Baht is 15.16 Grams

Current Gold Price is $1063.05 and can somebody tell me where it is going to hit now ?

[simcity]

Sunbelt Asia put a nice formula to calculate price of your chain. POST 36

http://www.thaivisa.com/forum/Advantage-Se....html&st=25

• The formula for calculation:

= USA Gold price x (15.244/31.1035) x (0.965/0.995) x (THB/USD)

Note:

1 troy ounce = 31.1035 grams

1 Thai gold Baht Bar = 15.244 grams

USA gold price is based on 0.995 gold

Thai gold is 0.965 gold

As an example

905.30 x (15.244/31.1035) x (0.965/0.995) x 34.89 = 15,013.68 Baht

If you buy gold now in Thailand you are buying gold lower than its "true selling price."

[Naam]

If you buy gold now in Thailand you are buying gold lower than its "true selling price."

not really because any gold below content of .999 is sold at a small discount. that is also the explanation why coins fetch different prices although the total gold content is exactly one ounce.

[simcity]

If you buy gold now in Thailand you are buying gold lower than its "true selling price."

not really because any gold below content of .999 is sold at a small discount. that is also the explanation why coins fetch different prices although the total gold content is exactly one ounce.

http://www.thaivisa.com/forum/Advantage-Se....html&st=25

Sorry for whatever raison the precedent link do not work, here is the total post made by Sunbelt ASIA for the formula

old post

• The formula for calculation:

= USA Gold price x (15.244/31.1035) x (0.965/0.995) x (THB/USD)

Note:

1 troy ounce = 31.1035 grams

1 Thai gold Baht Bar = 15.244 grams

USA gold price is based on 0.995 gold

Thai gold is 0.965 gold

As an example

905.30 x (15.244/31.1035) x (0.965/0.995) x 34.89 = 15,013.68 Baht

If you buy gold now in Thailand you are buying gold lower than its "true selling price."

Physical Gold bars in the USA or most of the World is selling at a premium. $100 over "spot" is quite common. The key is to sell to someone looking to buy rather than selling to a dealer to get near the spot price.

http://www.goldprice.org/ebay-gold-prices/

Average price today is $988.41 with prices selling as high as $1,076 and as low as $942 for one ounce bullion

988.41 x (15.244/31.1035) x (0.965/0.995) x 34.89 = 16,392

If you had a buyer that is looking to save money, you can arbitrage gold bars. Otherwise it would be easy to lose money. If you sold it to a refiner or pawnshop in the USA and the price was the same you would lose lots.

www.sunbeltasiagroup.com

Edited February 5, 2010 by simcity

[Naam]

"Physical Gold bars in the USA or most of the World is selling at a premium. $100 over "spot" is quite common."

that is generalised rubbish because it applies only to tiny bars or one ounce coins. only a brain-amputated investor would pay a premium of 3,000 dollars when he buys a 1kg gold bar.

[simcity]

"Physical Gold bars in the USA or most of the World is selling at a premium. $100 over "spot" is quite common."

that is generalised rubbish because it applies only to tiny bars or one ounce coins. only a brain-amputated investor would pay a premium of 3,000 dollars when he buys a 1kg gold bar.

This quote was made by Sunbelt ASIA when gold were shortage many months ago, you want it 'will have to grease the deal time.'

Not everyone can afford to buy kilos of gold when they enter the gold fever market, when much younger, I did not have this facility too.

[flying]

Actually it is coins that carry the highest premium.

If buying bullion in 100 oz or larger quantities you *supposedly* can get it close to spot through the Comex

But of course they have no guarantee of delivering & can pay you in cash fiat.

But most buy coins in fractionals or 1 oz sizes & yes they have a premium that can go quite high depending.

For instance in the states right now it is roughly $60 per oz & I saw it at $110/oz or more back when gold got below 800/oz

But even now you can buy Pamp Suisse (In Assay Card) for about $35 or so over spot. ( personally I stick with coins )

All that aside...IMHO...The price you see on the exchange has no reality in physical gold. It is just paper trading the price of gold.

Edited February 5, 2010 by flying

[gregb]

Sunbelt Asia put a nice formula to calculate price of your chain. POST 36

http://www.thaivisa.com/forum/Advantage-Se....html&st=25

• The formula for calculation:

= USA Gold price x (15.244/31.1035) x (0.965/0.995) x (THB/USD)

Note:

1 troy ounce = 31.1035 grams

1 Thai gold Baht Bar = 15.244 grams

USA gold price is based on 0.995 gold

Thai gold is 0.965 gold

As an example

905.30 x (15.244/31.1035) x (0.965/0.995) x 34.89 = 15,013.68 Baht

If you buy gold now in Thailand you are buying gold lower than its "true selling price."

1 baht of gold bar is 15.24 grams.

However, when you purchase gold chains, the agreed weight for 1 baht is only 15.18 grams. The reason for the discrepancy is that it is assumed some gold will be lost in the manufacturing process. However, when you sell back the chain as scrap, they will again apply the 15.24 gram weight ratio (unless you purchased from that same shop and are exchanging). I believe sunbelt's calculation is actually slightly off because the USD price is based on pure gold not 995. 995 is the purity necessary to be accepted as London Good Delivery Bars, but they are prorated based on their actual gold content. The COMEX price is based on oz. of gold. The impurities are free.

The 15.18g ornament/15.24g bar mismatch is only about 1/2 percent variation, but it can make a difference on a larger chain.

And the truth is the Gold Traders Association does try and smooth the price to some degree in Thailand. They are limited of course in that if they go too far they will get killed by arbitrage, but you will see the price posted on their website vary by as much as 1% - 2% over what a strict interpretation of the gold content would otherwise lead you believe.

Over all, you can take a guess as to the real number, and you likely won't be off by more than a few percent, but only the Thai Gold Trader's Association can give you the actual figure at any given time. When the gold price went to $1200 in early December the Thai price was only about 18,400 as I remember. You can guess it would still be in that range +/- a hundred baht or 2.

[Naam]

"Physical Gold bars in the USA or most of the World is selling at a premium. $100 over "spot" is quite common."

that is generalised rubbish because it applies only to tiny bars or one ounce coins. only a brain-amputated investor would pay a premium of 3,000 dollars when he buys a 1kg gold bar.

This quote was made by Sunbelt ASIA when gold were shortage many months ago, you want it 'will have to grease the deal time.'

Not everyone can afford to buy kilos of gold when they enter the gold fever market, when much younger, I did not have this facility too.

that is correct but what i said as far as "Physical Gold bars in the USA or most of the World is selling at a premium of "$100 over "spot" is quite common" is concerned is a fact. the "1 kg" i used was to point out the generalising mistake. that mistake also applies to the purchase of 500 or even 100 grams not withstanding the fact (as Flying pointed out) that coins are sold at a much higher premium over spot than bars. why my good friend flying prefers expensive coins over bars is beyond my comprehension. perhaps his children prefer to play with round objects?

[flying]

why my good friend flying prefers expensive coins over bars is beyond my comprehension. perhaps his children prefer to play with round objects?

You know tis true they are more fun to toss around. Imagine a small child tossing a 400 oz bar to his little sister.

Also I admit they are fun to play with when you get a bunch & dig your hands into it you feel like a pirate

That aside they are much easier to stash in tubes & ammo cans somewhere & also to transport. You know those TSA goons are getting so twitchy these days

[Naam]

Also I admit they are fun to play with when you get a bunch & dig your hands into it you feel like a pirate

i withdraw my reservations and agree. we have only a few coins and once in a blue moon i look at their design. real fun to handle is a one kilo gold bar although the two one kilo silver bars which are since many years on my desk have an amazing effect too when one picks them up.

Edited February 6, 2010 by Naam