Buying Gold Bars

[james24]

Is there any trustworthy non fiddling jewelers in Chiang Mai where someone can buy gold bars.

If not gold bars perhaps gold jewelry that will be a good investment.

[drfang]

The large gold shop in Warawot market has a good reputation. With the ping river at your back, its to the right of the main building. There is often a couple of expensive cars parked out the front, presumably the owners..

Thais buy gold to wear, well why not, and as an investment. There is a buy and sell price, which changes daily. Jewellery is sold by Baht weight, plus a small percentage for the work in making it. I think one is also able to purchase gold by the bar. I suggest you have a poke around on the internet to research the difference in baht weight to troy ounce weights, purity levels etc.

Regards Dr F

[LivinLOS]

Have you considered the risk of holding at home ?? Nothing is risk free.

I bought some last night when gold sold off pre the Fed speak.. But I did it via a vaulted online account. PM me if you would like to know where.

[Abrak]

Have you considered the risk of holding at home ?? Nothing is risk free.

I bought some last night when gold sold off pre the Fed speak.. But I did it via a vaulted online account. PM me if you would like to know where.

A 'vaulted online account' doesn't sound to me like the definition of risk free either. But then I am cynical.

[heybruce]

Are you nuts? A gold bar would be ridiculously expensive, and who would want to drink there? The acoustics must be terrible!

[elektrified]

Buy? At these prices?

[Abrak]

Have you considered the risk of holding at home ?? Nothing is risk free.

I bought some last night when gold sold off pre the Fed speak.. But I did it via a vaulted online account. PM me if you would like to know where.

A 'vaulted online account' doesn't sound to me like the definition of risk free either. But then I am cynical.

Ok I got ya.... you are just taking the piss. 'Vaulted online account' my ass. Its just that often some goldies have really weird ideas which again may be real or again might be a piss take.

[powderpuff]

Nope he's serious.

If you buy a 10 ounce gold bar & bring it home yo0u are gonna have to store it somewhere.

You can do it online. A swiss bank is gonna charge you a storage fee. Probably LivinLOS has a place where storage is free. You never take delivery. They buy & sell it to you.

Every gold shop in Thailand sell bars.

from 1 gram on up. Make sure it is hallmarked 999.9 & get a receipt. They'll buy it back off you.

[flying]

Buy? At these prices?

I bought the bulk of mine at $735/oz

A poster named VV here kept telling me the same...At these prices?

Wait wait as it is going back to 400 shortly.

I added a bit more to round up some in the low 900/oz range & felt the same again. I mean gold had never seen 1k before.

When gold hit 1k folks said surely you better not buy now gold is 1000/oz...that is crazy

Yet we will probably see 1500/oz before the end of the year. If not something close

Remember as yet all we are seeing is the demise of the dollar.

Gold has not so much gone crazy as the worth of a dollar has gone down & the faith in it.

Sadly we will probably also see $100/barrel oil

But when the various funds start to pile into gold then we will see a rise...

( all just my opinion of course & not a recommendation)

If I were not already more than 50% of liquid assets invested in physical gold & silver I would buy more even now.

[elektrified]

Buy? At these prices?

I bought the bulk of mine at $735/oz

A poster named VV here kept telling me the same...At these prices?

Wait wait as it is going back to 400 shortly.

I added a bit more to round up some in the low 900/oz range & felt the same again. I mean gold had never seen 1k before.

When gold hit 1k folks said surely you better not buy now gold is 1000/oz...that is crazy

Yet we will probably see 1500/oz before the end of the year. If not something close

Remember as yet all we are seeing is the demise of the dollar.

Gold has not so much gone crazy as the worth of a dollar has gone down & the faith in it.

Sadly we will probably also see $100/barrel oil

But when the various funds start to pile into gold then we will see a rise...

( all just my opinion of course & not a recommendation)

If I were not already more than 50% of liquid assets invested in physical gold & silver I would buy more even now.

I understand what you are saying. But gold is not linked to the American Dollar anymore so there is no relevance. We've already seen US $100/barrel oil - maybe again. I'm still buying Royal Dutch shares...

[flying]

I understand what you are saying. But gold is not linked to the American Dollar anymore so there is no relevance. We've already seen US $100/barrel oil - maybe again. I'm still buying Royal Dutch shares...

Well actually I did not mean it like that. Yes the gold window was closed by Nixon in the 70's

What I meant was the dollar's purchasing power has been going south for some time now.

So if a dollar is worth less ( no pun ) then of course the gold priced in USD goes up same for oil which is priced in USD..

Golds rise while good has not been as shocking in say Euro's

When you said

buy? at these prices?

what did you mean?

[Pond Life]

Every gold shop in Thailand sell bars.

from 1 gram on up. Make sure it is hallmarked 999.9 & get a receipt. They'll buy it back off you.

You can get 99.999 pure gold (24 karat) here but its not common & mostly Swiss.

If you want to take it back to farang land then this is the stuff to buy.

The most common is "Thai Gold" which is 96.5% pure (23 karat).

Sold in 1,2 5 & 10 Baht bars.

1 Baht = 15.2 Grams.

Buy/sell prices displayed in the shop are for thai gold.

Any gold shop in Wororot market is as good as another,

but you will find a little difference in the "workmanship" add on price.

[rodcourt49]

Are you nuts? A gold bar would be ridiculously expensive, and who would want to drink there? The acoustics must be terrible!

[/

The Glitterman Bar..with free moon cheese crackers

[Beetlejuice]

Does the gold shop charge the customer any commission when they buy the gold?

[Lobin]

The way I think is if you are never going to leave Thailand then buy Thai gold 96.5 if there is a possibility in the future you may leave and take it with you then buy 99.9 as its more globally accepted than the Thai less pure bars.

Crossover the Narawat bridge heading to town, opposite the left turn to Chang Klan road, or thereabouts is a dealer www.ausiris.co.th they sell 99.99 Suisse stamped and certified bars.

They charge a handling fee but its nominal and built into the cost of the bar, check out the site as it quotes buy and sell for the bars. 99.99 can be bought in 10 baht (152.44g) or 1 kg (65.60 baht) bars only, whereas Thai gold can be bought from them in smaller sizes, but you pay higher baht rate.

FYI

1 baht = 15.244 g

1 tr oz = 31.104 g

[Naam]

Are you nuts? A gold bar would be ridiculously expensive, and who would want to drink there? The acoustics must be terrible!

big disadvantage is that they serve Singha Gold only in gold bars. no Foster's, no Heineken and no Becks

[Pond Life]

Does the gold shop charge the customer any commission when they buy the gold?

Yes, for a bar its 50-200 Baht per Baht weight.

For jewelry you have to negotiate more.

The nicer the item & the more workmanship involved the higher the commission.

[Beetlejuice]

Does the gold shop charge the customer any commission when they buy the gold?

Yes, for a bar its 50-200 Baht per Baht weight.

For jewelry you have to negotiate more.

The nicer the item & the more workmanship involved the higher the commission.

Thank you, Pond Life, that`s interesting and worth taking into consideration when dealing in gold.

[james24]

cheers guys

I should have bought some last week as its now gone right up. Gonna wait to see if if goes to the 18's again and if so Ill be buying.

Have to wait and see :-)

[Tongdee]

Buying gold---good Idea.The price will likely continue to rise, or more corectly the value of paper currency will continue to fall. From a Jeweler---Bad Idea!!! From a Gold shop, yes do your own due dilligence. Most Thai gold is 96.5% Totaly acceptable at most gold shops in asia, and far better gold than what is sold as gold jewellry in north america. (check price)So called four nines gold (99.99%)is my prefference, altho three nines (99.9%)is readily accepted by almost all buyers. My own prefference is the Canadian Maple Leaf (99.99%). There is a Five Nines (99.999%)Leaf avalible in some places.( bar also) I have never seen one. Would buy at a small premium just cause. Thai gold shops pay no premium for coin vs bar. I find coin more convient. If purchase is investment purpose many "clued In" people see much more upside in silver(traditional value relative to gold can bring it up a long ways), platinum is a winner if the world economy tanks or rocks due to industrial uses. "Paper gold"--- any variation on You get a ticket stating you own it & I store it "for you" is as close to a ponzi scheme as you can get. The operators of these can sell up to 100 times as much gold as they actually posess. If you are O.K. with that I will rev up my printer & emboss some certificates just for you. the prices change worldwide by the minute. at the time of this writing Kitco is quoting

Gold $1385us 983euro

Silver $26.31us 18.17euro

Platinum $1754us 1249euro Bought & sold Platinum in Kuala Lampur years ago likely still can

Back on topic any "GOLD SHOP" likely bet for Bar

DO NOT buy Gold??????? from a "Jewler"

Tongdee

[thrilled]

my advice,if your going to buy gold in thailand,buy it at bangkok,chinatown at yarophat road.

[fcgprg]

my advice,if your going to buy gold in thailand,buy it at bangkok,chinatown at yarophat road.

The cost of getting to Bangkok and back from Chiang Mai ,out ways any savings that could be made .I dont think you could get any better prices or quality than what is available here in Chiang mai.

[whopper]

My gold broker in Chiang Mai is Khun Tik, her business is in the heart of Chinatown and is one of the larger gold shops. She always has all sizes of gold bars on hand, speaks english and I have used her for years. 053-234060

[TaiKai]

It's amazing how many people quote the gold price in USD, but what's a dollar going to be good for in the future?