Gold Shops In Cm Don't Want To Buy My Gold!

[meithai]

Hi all, I need to sell a bit of gold, i've visted a couple of shops in CM & all were not interested, is it the way I was dressesd or the present market price? I thought gold shops worked on a buy & sell price mark up, so why are they not interested?

Maybe, I have just hit on the wrong shops.

If anyone knows of a good place to ask, I would be most greatful.

[Forkinhades]

look at the markets, gold reached a peak a couple of years ago, and in my opinion was way over priced anyway, gold is going to one way, and that is down.

[whiterussian]

Is it standard gold, ie: the stuff they all sell by the baht?

gold has a long way to go.... up up up and away... China just needs to finish loading up... then it's bye bye Petrodollar, hello gold backed Petroyuan!

or not. (too skint to buy gold at the moment anyhow)

Want to get myself on of those 100,000 baht bars, then again, Thailand is a major producer of Tungsten, and there is apparently a flood of fake gold at the mo.. gold covered Tungsten.

Edited March 27, 2010 by whiterussian

[meithai]

Is it standard gold, ie: the stuff they all sell by the baht?

gold has a long way to go.... up up up and away... China just needs to finish loading up... then it's bye bye Petrodollar, hello gold backed Petroyuan!

or not. (too skint to buy gold at the moment anyhow)

Just baht ingots

[whiterussian]

Interesting.

Maybe it need to be assayed? Or maybe they are waiting to buy on a dip, eg: $1000. Doesn't look 'overbought' to me.

Edited March 27, 2010 by whiterussian

[lannarebirth]

Interesting.

Maybe it need to be assayed? Or maybe they are waiting to buy on a dip, eg: $1000. Doesn't look 'overbought' to me.

Nor does it look oversold. Nor does there exist anything looking like a positive divergance; on the contrary:

[whiterussian]

No, I agree, not oversold.. but there is a slight divergence on weekly rsi peaks... which catches my eye...what do you make of that?

anyway, havent charted for 3 years now. so i will excuse myself if im wrong.

Does look like a lot of support on your - better chart - of 1000 - 1050. Which would make a nice pretty wedge/triangle/flag whatsit.

nice round number too. Psychological support.

reckon its a coiled spring meself. Just need a war in Iran and whoooooooosh.

or not. Im outta the game now 3 years+, ... but Ive made a mental note to maybe punt around 1000, thanks for the chart

Edited March 27, 2010 by whiterussian

[Yunnie]

Maybe your gold is just crappy? o_O;

Is it like 24k or no? Normally...I think they prefer it to be as close to pure as possible. That way they can melt it down and rework it. Anything else is a waste of time.

Edited March 27, 2010 by Yunnie

[Pond Life]

Warorot market / china town seems to be the main gold area in CM.

Try a few shops there.

I have never tried to sell Thai gold.

But was offered the going rate on a small 100% bar.

[Semper]

If it's "farang gold", they are not interested in buying.

[LJW]

I don't know what the problem is with your gold.

I have sold 18k and 14k gold to the shops at Wororot Market a few times...

[Naam]

gold has a long way to go.... up up up and away... China just needs to finish loading up... then it's bye bye Petrodollar, hello gold backed Petroyuan!

or not.

that stuff you ingest... is it legal?

[nokia]

Normally, if your gold is bought in Thailand, there is a small label attached to it, so there should be no problem selling it.

Maybe your gold is from overseas?

[Semper]

gold has a long way to go.... up up up and away... China just needs to finish loading up... then it's bye bye Petrodollar, hello gold backed Petroyuan!

or not.

that stuff you ingest... is it legal?

[LJW]

Normally, if your gold is bought in Thailand, there is a small label attached to it, so there should be no problem selling it.

Maybe your gold is from overseas?

What kind of 'small label' are you talking about?

The only thing I know some large sellers add is a stamp from them.

Not all sellers, but the ones who make/manufacture their items.

This is supposed to be a guarantee, but only for that store where the

stamp is from..

Edited March 28, 2010 by LJW

[meithai]

Hiya,

The shops I asked in weren't even bothered to look at it, I said, 'Phum mee bin doii' (I have the reciept also).

It's Thai gold I bought at an Aurora gold shop down South. Does anybody know if they have branches in CM? Their website is in Thai.

Cheers.

[nokia]

Normally, if your gold is bought in Thailand, there is a small label attached to it, so there should be no problem selling it.

Maybe your gold is from overseas?

What kind of 'small label' are you talking about?

The only thing I know some large sellers add is a stamp from them.

Not all sellers, but the ones who make/manufacture their items.

This is supposed to be a guarantee, but only for that store where the

stamp is from..

It's basically a card embossed with the shop name and over the reverse side are the details of the purchase: date, type, weight etc...

I suppose all registered gold shops accept gold from each other?

[whiterussian]

gold has a long way to go.... up up up and away... China just needs to finish loading up... then it's bye bye Petrodollar, hello gold backed Petroyuan!

or not.

that stuff you ingest... is it legal?

Well, the euro looks like a basket case currency now, what with the balls and chains of eastern europe, balkans and the donkey cart countries along the med...

so what's the alternative?

petrosterling - makes sense of course, but we are far too emasculated now.

petroyen? nah

petroyuan.... hmmm.... why not?, it's being mooted as the new reserve currency now that the USA is bankrupt and intent on starting WWIII...edit.. continuing WWIII...

China has been a 'superpower' on the world stage longer than any empire I can think of, It's in its blood.

Printing press 700 years before the west, Guns, Trade with Middle east and the rest of the known world (including parts of the USA before Columbus - as had Russians..)

Capitalists for thousands of years, maybe they will have a better balance than cowboys.

Edited March 28, 2010 by whiterussian

[Sojourner]

meithai, seriously, ask some of the bar girls where they go to sell gold. Trust me, they will know.

[meithai]

meithai, seriously, ask some of the bar girls where they go to sell gold. Trust me, they will know.

5555555, that's funny! Good advice too, they will know.

[Ulysses G.]

maybe they will have a better balance than cowboys.

They have have screwed up and fought with each other over and over again for thousands of years. Don't count any chickens just yet.

Edited March 28, 2010 by Ulysses G.

[whiterussian]

maybe they will have a better balance than cowboys.

They have have screwed up and fought with each other over and over again for thousands of years. Don't count any chickens just yet.

I'm not counting chickens, I'm waiting to count Yuan! Easy money!

Am I the only farang that is excited by the prospect of a dominant China? 19.62% of the world are Chinese! It just seems to make sense!

No point fighting the inevitable (resistance is futile!)

And the beauty of it is that the US is moaning its too weak... lets hope it stays that way until I get some cash behind me If I were a rich man.. da da da da

Han Chinese constitute about 92% of the population of the People's Republic of China (mainland China)

USA ancestry

Edited March 28, 2010 by whiterussian

[ferd54]

China has been a 'superpower' on the world stage longer than any empire I can think of, It's in its blood.

Printing press 700 years before the west, Guns, Trade with Middle east and the rest of the known world (including parts of the USA before Columbus - as had Russians..)

Capitalists for thousands of years, maybe they will have a better balance than cowboys.

By the late 1970s -- and long before that -- China was one of the most backward places on the planet. Got their butts kicked in Vietnam, had the worst famine in recorded history, most of the country working in the equivalent of slave labor camps.

Some superpower.

And they ain't there yet due to many of the same reasons they were so backward just half a century ago. But yes, these communists are obsessed with capitalism now. Still got serious problems, though and the fat lady has yet to sing.

[whiterussian]

The fat lady is singing...

http://www.independent.co.uk/news/business...ar-1798175.html

In the most profound financial change in recent Middle East history, Gulf Arabs are planning – along with China, Russia, Japan and France – to end dollar dealings for oil, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in the Gulf Co-operation Council, including Saudi Arabia, Abu Dhabi, Kuwait and Qatar.

Secret meetings have already been held by finance ministers and central bank governors in Russia, China, Japan and Brazil to work on the scheme, which will mean that oil will no longer be priced in dollars.

The plans, confirmed to The Independent by both Gulf Arab and Chinese banking sources in Hong Kong, may help to explain the sudden rise in gold prices, but it also augurs an extraordinary transition from dollar markets within nine years.

"These plans will change the face of international financial transactions," one Chinese banker said. "America and Britain must be very worried. You will know how worried by the thunder of denials this news will generate."

Iran announced late last month that its foreign currency reserves would henceforth be held in euros rather than dollars. Bankers remember, of course, what happened to the last Middle East oil producer to sell its oil in euros rather than dollars. A few months after Saddam Hussein trumpeted his decision, the Americans and British invaded Iraq.

Edited March 30, 2010 by whiterussian

[cloudhopper]

The fat lady is singing...

It doesn't matter what currency oil (or anything else) is "priced" in.

[whiterussian]

The fat lady is singing...

It doesn't matter what currency oil (or anything else) is "priced" in.

some would say...(cut n paste)

The petrodollar system is no different than the gold standard. Today's currency is simply underwritten by the one vital source of energy upon which every industrialized society depends---oil. If the dollar is de-linked from oil; it will no longer serve as the de-facto international currency and the US will be forced to reduce its massive trade deficits, rebuild its manufacturing capacity, and become an export nation again. The only alternative is to create a network of client regimes who repress the collective aspirations of their people so they can faithfully follow directives from Washington.

As to whether the Bush administration would start a war to defend dollar hegemony; that's a question that should be asked of Saddam Hussein. Iraq was invaded just six months after Saddam converted to the euro. The message is clear; the Empire will defend its currency.

Similarly, Iran switched from the dollar in 2007 and has insisted that Japan pay its enormous energy bills in yen. The “conversion” has infuriated the Bush administration and made Iran the target of US belligerence ever since.

Edited March 30, 2010 by whiterussian

[Naam]

The fat lady is singing...

It doesn't matter what currency oil (or anything else) is "priced" in.

PetroYuan sounds more melodic than PetroDollar

[tomahawk]

I think white russian guy is living in some novel I read about the alternative universe. The one where the Chinese and Russians are trading bwith North America before Columbus. I think he is the only farang who is "excited" about China being dominant power. Fact is, like other people have said, China has always screwed themselves up and are doing it again. Their economy is about to go down like everyone elses, except much worse, from all the information I have read.

[bjohn34]

The fat lady is singing...

It doesn't matter what currency oil (or anything else) is "priced" in.

I beg to disagree, realiziing that my simple logic may be wrong.

As long as oil is priced in USD, anyone buying oil who does not have USD must first buy dollars to pay for the oil. This creates demand for USD on the forex market which creates some USD strength and supports confidence in the USD and US economy.

If countries start accepting payment for oil in other currencies, it indicates a relative weakening of confidence and will lead to long term weakening of the USD. I think the lack of fiscal discipline in the US and increasing level of national debt is starting this process and am afraid that the people and politicians(all of them) lack the will to make the difficult decisions to reverse the process. I hope I am wrong!

This thread has completely left the OP question long ago. I have no idea why the gold dealers would not buy your gold. Did you ask them???

[flying]

If countries start accepting payment for oil in other currencies,

They end up getting accused of having WMD's & then get hung?