Bob Chittie Posted December 11, 2003 Share Posted December 11, 2003 A farang friend wants to buy gold here as an investment. Are the thai gold shops generally trustworthy? Link to comment Share on other sites More sharing options...
dr_Pat_Pong Posted December 12, 2003 Share Posted December 12, 2003 Generally they are fine. Go somewhere like MBK where there's a lot of gold shops, and check from shop to shop, see what's on offer. Gold has an international daily market price, but dependent on quantity he might bust 'em down a bit Link to comment Share on other sites More sharing options...
george Posted December 12, 2003 Share Posted December 12, 2003 The gold price is going up in Thailand. Saw it was 7,800 Baht per Baht yesterday. Link to comment Share on other sites More sharing options...
penelope Posted December 12, 2003 Share Posted December 12, 2003 A farang friend wants to buy gold here as an investment. Are the thai gold shops generally trustworthy? gold ingots or 22 karat jewellery ?? Link to comment Share on other sites More sharing options...
maerim Posted December 12, 2003 Share Posted December 12, 2003 deleted Link to comment Share on other sites More sharing options...
KevinN Posted December 12, 2003 Share Posted December 12, 2003 If someone wants to buy jewelery then just about any shop is as good as the next, Most is jewelery grade which will be 10 C.which is ok for a ring but not good for investments. For that you need 22 C. or 24 C. ingot or heavy chains. The Metals market is listed everyday,and the prices are per gram or oz.troy of 24 C. and anything under 24 C. is less gold and more alloy,so you will be paying gold prices for alloy,not all gold comes from the ground pure and some gold is as low as 10 C. when mined,so therefore you have to have an assay before the co.s will buy it in large quantity's. Gold is traded on the world market so you will pay the same price for it no matter where you buy it. Gold is like buying Oats,if you want good quality,pure OATS,you have to pay a good price,But if you will settle for OATS that has already been thru a horse,you can get a better price. When you buy gold for investment,you are counting on it going up in price,but it doesn't always sell for more tomorrow than it did today.and only a fool will buy jewelery for an investment. So only buy high carat ingot for that purpose and hope that the market is up on the day you sell. Link to comment Share on other sites More sharing options...
The_Moog Posted December 12, 2003 Share Posted December 12, 2003 Whilst the gold price is fixed twice daily (conducted in the Panel Room of NM Rothschild, New Court - not Hatton Garden), that price tends to be used for delivery contracts. Otherwise the gold price trades and fluctuates all day. Your gold bug pal needs to focus on purity - 9999 or 995 gold is market standard. Items like rings are low carat, because they need some other metal in there to increase their strength. You won't find 100.00% gold as the molecules would be unstable and it would just fall to bits....so...like....don't even try ! Moogfinger - "the goblin with the Midas touch". Link to comment Share on other sites More sharing options...
kwiz117 Posted December 12, 2003 Share Posted December 12, 2003 Just tell him to check the regulations in Thailand about taking Gold out from the country before he do this. Many countries follow very strict regulations and have imposed limits. Otherwise, people will convert money to gold and simply carry. If the intention is to Buy Gold as an Investment, from Thailand and sell inside Thailand, I doubt about the return for his investment. But as one suggest, buying from Dubai and then selling in Thailand might be profitable. Buying from Thailand and selling in your country, well..it depend on Thai regulations. This is my opinion. Link to comment Share on other sites More sharing options...
maerim Posted December 12, 2003 Share Posted December 12, 2003 deleted Link to comment Share on other sites More sharing options...
Guest ka1234 Posted December 12, 2003 Share Posted December 12, 2003 "Thai gold" (or "chinese gold" as it is referred to by Thais) contains 96.5% gold. Most gold shops also have a few small bars of 99% gold but the stuff that is generally traded is 96.5%. You can buy bars in various sizes: 50 satang, 1, 5, 20 baht etc. 1 baht is about 15.16 grams. The daily selling and buying price per baht is written on the windows of decent stores and the difference between the two should be low. The place to go for buying and selling gold is Yaowarat/Chinatown. There are some shops scattered throughout town that give you Yaowarat rates and service, but generally you get a slightly worse rate at shops outside the Yaowarat area (and then slighly worse if you are outside BKK and then several steps worse if you are in a tourist area). Personally, I would not buy any substantial amounts of gold at the moment because the prices are at record high levels. But that is just my personal opinion, maybe it will just keep skyrocketing although I doubt it. Link to comment Share on other sites More sharing options...
simcity Posted December 12, 2003 Share Posted December 12, 2003 Will agree with china town as the best place to buy gold ! Three questions I was wondering for long time. If I buy some gold bullion in Thailand , and want to sell it in Australia , no counting the fluctuation of gold , did I will get the same amount for the gold ? Did my Thai gold will be accepted? If you buy gold in Australia from the gold bullion company what is the tax to be paid ? cheer Link to comment Share on other sites More sharing options...
maerim Posted December 13, 2003 Share Posted December 13, 2003 Tax? Link to comment Share on other sites More sharing options...
KevinN Posted December 13, 2003 Share Posted December 13, 2003 I think that your best place to buy for investment would be DUBAI,Some of the oil companys did agree to pay their oil leases to the arabs in gold,so they can set their own price as they didn't buy it on the world market.But I can't see them taking much less than world market prices for it tho. Link to comment Share on other sites More sharing options...
simcity Posted December 14, 2003 Share Posted December 14, 2003 Tax / VAT / GST or what ever ! find this link for gold by contry http://www.gold.org/value/invest/wherebuy/linksdir.html? Link to comment Share on other sites More sharing options...
Bob Chittie Posted December 16, 2003 Author Share Posted December 16, 2003 Well he bought some of the 96.5 10 baht bars a couple days ago. No Vat because no receipt. Hmm... Apparently from a reputable shop though. He seems to think gold is going to keep rising and rising, although I think it may be peaking. The idea is to keep it here and sell it here. Hopefully not the beginning of another, 'how I lost my money in Thailand story'. Link to comment Share on other sites More sharing options...
jayrockwell Posted December 16, 2003 Share Posted December 16, 2003 Please excuse my ignorance, can someone explain to me the pricing/measure of gold in Thailand, what does someone mean when they talk about 1 baht or baht weight? i.e. you couldn't even buy me a 1 baht you cheap charlie #######. Also, why is gold in Thailand so yellow compared to Europe? I'm not a big gold buyer (as my GF will dissappointedly confirm) Thanks J Link to comment Share on other sites More sharing options...
lopburi3 Posted December 16, 2003 Share Posted December 16, 2003 i.e. you couldn't even buy me a 1 baht you cheap charlie #######. Less than 1/2 oz or 15.244 grams. It is usually between 22-23k (should be 96.5% but often a little less from recent press reports). It used to be a very dark color due to the mix used (more copper I believe). But it now seems to be much brighter/lighter color to my eyes. There is a buying and selling rate listed in windows of shops and published in newspapers each day. You add to that the price of workmanship when buying from shop (and there is sometimes a small range of bargaining allowed). You sell back and they will weight and pay for the weight remaining (less then bought as there will be some wear loss). It can we worn but then changed to cash at very little loss so always popular with the GF. Link to comment Share on other sites More sharing options...
ThaiAdventure Posted December 16, 2003 Share Posted December 16, 2003 It is not a good time to buy gold at the moment. 1 Baht (~15 grammes) of gold is around 7600 and is forecast to reach 8000 before the new year. It has gone up by about THB 400 in the last month. Typically. if you go to the gold shop (always buy from a gold shop!!!) they will buy back gold at about THB 100 less than the 1 baht selling price for bullion (bars, etc) and about THB 300 less for jewellery. The Thais view gold as insurance against hard times. To make an appreciable amount of profit on gold in Thailand you have to deal in very large quantities. Most farang buy a little gold on trips and sell it back in thier own country where Thai gold is a bit more exotic and a higher price can be obtained. Just for reference, Thai gold is described as 23 carat. As lopbury3 says this equates typically to about 96.5% .... (23/24)*100 = 95.83% but carats are integer values rounded down. Non Thai gold (less than 23 carat) will not be hallmarked and will show the gold index e.g. 18 carat=18/24 *1000=750. I have been into many jewelery shops around thailand and have been told that 750 means 22 carat....don't believe them!. Link to comment Share on other sites More sharing options...
Bob Chittie Posted December 17, 2003 Author Share Posted December 17, 2003 It is not a good time to buy gold at the moment. 1 Baht (~15 grammes) of gold is around 7600 and is forecast to reach 8000 before the new year. It has gone up by about THB 400 in the last month. If it does go to 8000 and you buy now at 7600, you could get in and out with a 5% gain on investment. Right? Not great, but better than leaving your cash in the bank all year. I personally think it might have peaked right now, but that's just just a guess. Link to comment Share on other sites More sharing options...
eric1000 Posted December 17, 2003 Share Posted December 17, 2003 A farang friend wants to buy gold here as an investment. Are the thai gold shops generally trustworthy? what quantity ? gold shops have seen a 50% drop in trade this year so what does that tell you ? trouble is when he comes to sell it he may have some problems . it does not have internationally recognised quality marks . so maybe someone like Johnson Mathey if he really needs to invest in gold you can sell their bullion anywhere . Link to comment Share on other sites More sharing options...
eric1000 Posted December 17, 2003 Share Posted December 17, 2003 Please excuse my ignorance, can someone explain to me the pricing/measure of gold in Thailand, what does someone mean when they talk about 1 baht or baht weight? i.e. you couldn't even buy me a 1 baht you cheap charlie #######.Also, why is gold in Thailand so yellow compared to Europe? I'm not a big gold buyer (as my GF will dissappointedly confirm) Thanks J all manner of base metals are added to gold to give it various hues , copper ,silver, iron etc Link to comment Share on other sites More sharing options...
shemmy Posted December 17, 2003 Share Posted December 17, 2003 Is it possible to get gold at a cheaper price in Cambodia, someone told me this and I don't believe it Link to comment Share on other sites More sharing options...
A. BOOZER Posted December 19, 2003 Share Posted December 19, 2003 Just a word of caution. A couple of years ago I went with a Thai friend to buy some gold, when I asked the price, the Chinese/Thai jeweller had a brief conversation with my friend, who later, informed me, that he had been asked if he wanted a commission (as an introduction fee) to be added to the genuine price! CAEVEAT EMPTOR Link to comment Share on other sites More sharing options...
Bob Chittie Posted December 20, 2003 Author Share Posted December 20, 2003 My friend bought 40 baht worth (four 10 baht bars). The shop he bought it from guaranteed him that they will buy it back from him at any time at the buying price for that day. He bought at 7500-7600 and its now at 7600-7700. So far, its still rising. I may owe him a beer. Link to comment Share on other sites More sharing options...
jwquinlan Posted January 2, 2004 Share Posted January 2, 2004 Earlier a post referred to buying Thai gold and selling it in Australia. I am trying to do that now. Does anyone have any advice? I am dealing with a group of military officers through a somewhat friend South African. What export/import concerns are there? I would appreciate any direction or advice. Thanks in advance Link to comment Share on other sites More sharing options...
frenchFARANGbkk Posted October 12, 2005 Share Posted October 12, 2005 Hi, Today the gold price is 9300, do you think it will never get lower? Thanks! Link to comment Share on other sites More sharing options...
AmeriThai Posted October 12, 2005 Share Posted October 12, 2005 (edited) The price of gold seems to go up and down a little, but generally it seems to keep going up. Juat a few short decades ago no one would've imagined what the price of gold would be today. Part of the reason why gold prices are where they are now is due to supply and demand. Much of that is because of hoarding. Like any precious metal or gem, and like oil, gold is a hard-to-find limited resource. I'm sure there are other factors that have an effect on the price as well. I guess if someone wants to buy gold bars for speculation, they should look at it as a long term investment, although I'd guess it'll likely go up in the short term too. Otherwise, there's nothing wrong with buying good quality gold jewelry. It can still be seen as an investment, plus is something you can enjoy for a long time. As stated earlier, unless someone is a heavy investor, the amount on the return might not be all that great. But even purchases by ordinary people will appreciate in value over time. It's just not that anyone making small purchases is going to get wealthy from. Edited October 12, 2005 by AmeriThai Link to comment Share on other sites More sharing options...
Mighty Mouse Posted October 12, 2005 Share Posted October 12, 2005 Earlier a post referred to buying Thai gold and selling it in Australia. I am trying to do that now. Does anyone have any advice? I am dealing with a group of military officers through a somewhat friend South African.What export/import concerns are there? I would appreciate any direction or advice. Thanks in advance It all depends of what quantity of gold you are planning to buy. If it is just a few chains, no need to declare it to customs. I trust that you have made appropriate inquiries as to how much you can expect to sell Thai gold for in Oz. Who will buy it from you? I doubt that you will make much of a profit unless you are selling it privately to someone who is not in the know. Gold chains can be bought at second hand auctions in Oz for between $10 and $30 per gram. (depending on design, and this price includes Thai gold) These can then be sold to Thailand gold shops for a lot more than that. I regularly buy small quantities of gold jewellery in Oz and sell it in Thailand. As for the world gold price, it is currently in the second phase of a bull market. If the US inflation rate continues to rise, so will the price of gold. The second phase is when members of the general public start talking about the gold price, (as in this thread.) and start buying. The second phase can extend for months, maybe years. The third phase is when the gold price goes bananas and reaches dizzy price levels. Some are predicting US $1,000 per ounce being a minimum price. Link to comment Share on other sites More sharing options...
jwquinlan Posted October 13, 2005 Share Posted October 13, 2005 Earlier a post referred to buying Thai gold and selling it in Australia. I am trying to do that now. Does anyone have any advice? I am dealing with a group of military officers through a somewhat friend South African.What export/import concerns are there? I would appreciate any direction or advice. Thanks in advance <{POST_SNAPBACK}> It all depends of what quantity of gold you are planning to buy. If it is just a few chains, no need to declare it to customs. I trust that you have made appropriate inquiries as to how much you can expect to sell Thai gold for in Oz. Who will buy it from you? I doubt that you will make much of a profit unless you are selling it privately to someone who is not in the know. Gold chains can be bought at second hand auctions in Oz for between $10 and $30 per gram. (depending on design, and this price includes Thai gold) These can then be sold to Thailand gold shops for a lot more than that. I regularly buy small quantities of gold jewellery in Oz and sell it in Thailand. As for the world gold price, it is currently in the second phase of a bull market. If the US inflation rate continues to rise, so will the price of gold. The second phase is when members of the general public start talking about the gold price, (as in this thread.) and start buying. The second phase can extend for months, maybe years. The third phase is when the gold price goes bananas and reaches dizzy price levels. Some are predicting US $1,000 per ounce being a minimum price. <{POST_SNAPBACK}> Link to comment Share on other sites More sharing options...
AmeriThai Posted October 13, 2005 Share Posted October 13, 2005 40 years ago the price of gold was $36/oz. Those days are gone for good. http://www.wisegeek.com/what-is-the-histor...ice-of-gold.htm Link to comment Share on other sites More sharing options...
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