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Need To Buy Gold Before December.

Eastender

By Eastender
in General Topics

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Eastender Silver Member

Eastender

Posted
Posted

Yes i need to buy gold for a dowry, the wedding is in December and you're all invited of course.

I'm living in the UK now so can't easily keep a track of gold prices, but the Mrs in thailand seems to think prices are rising and it's better to buy now.

What do you think?

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chownah Diamond Member

chownah

Posted
Posted (edited)

I'm sure you can find the price of gold on the internet...at least in a dozen places.....where have you looked? Unless you are buying a reallly large amount of gold then the difference in price between now and December will probably be relatively unimportant but its always nice to get a bargain. If you think the world is on a path which will lead to more/further crisis in the world between now and December then buy now. If you think the world is on a path which will lead to less/fewer crisis in the world between now and December then buy later.

Maybe your fiancee is thinking you are getting cold feet and she thinks that purchasing the dowry now will get you back in step?....or maybe she's getting cold feet and she is trying to........ I don't want to insult you or your intended but there are so many stories about situations like yours that have unhappy outcomes that I thought I would give you a hint as to a (probably) unlikely scenerio.

Edited by chownah
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Khutan Platinum Member

Khutan

Posted
Posted
the wedding is in December and you're all invited of course.

Oh good, where is it going to be ?

BTW, I picked up a heap of gold really cheap yesterday. A friend of my wife lost big in a "game" and had to go to the shop and hock her gold. 7 Baht in all, and was given 5 months to come back. Yesterday was the last day on the ticket and the gold on the Pawn ticket was at 6,500 per baht, she paid 250 baht for the ticket and 45,500 for the gold. We got in the car and drove to the local gold shop and got 7,750 per baht.

So I / we turned a profit of 8,500 for about 1 hour's work.

The moral of this tale, you can find cheap gold, you just got to look.

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Eastender Silver Member

Eastender

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Chowna,

Yes I did wonder if her opinion of gold prices was a little biased, maybe she's afraid the world will run out just before the wedding. I understand your good intentions warning against worst scenarios, but in my personal experience I've started off completely distrusting because of all I've heard, and then always been proved wrong (so far!).

OK I didn't search on prices, thought I'd trust the opinions of you learned poeple instead, easier than tracking prices weekly.

BTW, wedding will be in Nakon Sawan, probably Dec 31st. Free beer of course, if there's any money left after the dowry!

Anyway, buy now or later?

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daleyboy Platinum Member

daleyboy

Posted
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Chowna,

Yes I did wonder if her opinion of gold prices was a little biased, maybe she's afraid the world will run out just before the wedding.  I understand your good intentions warning against worst scenarios, but in my personal experience I've started off completely distrusting because of all I've heard, and then always been proved wrong (so far!).

OK I didn't search on prices, thought I'd trust the opinions of you learned poeple instead, easier than tracking prices weekly.

BTW, wedding will be in Nakon Sawan, probably Dec 31st.  Free beer of course, if there's any money left after the dowry!

Anyway, buy now or later?

YEAH!!!!!!!! free beer :D :D you have just made alot of friends that i am sure will check the prices for you if your getting the beers in :o

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OxfordWill Platinum Member

OxfordWill

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Posted

Well as I glance nonchalantly at the prices at some random gold shop here in Siam it strikes me that gold has gone up by a very small amount in the last two months. I think its not going to make a huge difference to you in 6, but Im sure someone else knows better.

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chownah Diamond Member

chownah

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HEY gold could go up a lot and this would savE you a bundle.

DOnt listen to these burned OUT, smart ass men who dont know how to have a nice wholesum relationship with more than a dog possibly!

Or it could go down and you would loose a bundle...but at least I won't loose my dog!!!

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Digger Gold Member

Digger

Posted
Posted (edited)

Gold is currently 8450 baht for selling it back and 8550 baht for buying it excluding make up charges. It has risen steadily over the last few months.

Long term, I believe it will continue to rise in Thailand and the Thai price has little parity with international gold price from what I have seen. The US$ exchange rate seems to impact gold price more in Thailand i.e if the baht weakens against US$ gold goes up and goes down when the US$ dollar weakens against the baht.

For the purposes of a dowry, I would strongly suggest you forget the jewellery and just go straight for gold bars, sold in weights of 5,10,20,50 baht - very easy to sell and no loss due to make-up price added into the jewellery cost. Basically that gold bar is worth exactly what it says on the shop window as the selling back price and its always 100 baht below the shop selling price.

Edited by Digger
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