Hollywood13 Posted January 29, 2011 Share Posted January 29, 2011 When passing through the Dubai airport I always see little gold bars. I've thought about buying one or two each time I go through there, but haven't a clue which gold bar would be worth the expense (they have many different kinds...brands?). Any insight from those of you in the know? kind, brands = mai pen rai! what counts and what you pay for is purity and weight. Thanks for the reply. I'll be passing through Dubai airport on February 8th, and again on February 28th, so perhaps I'll pick up a bar or two on each leg. Not sure what I'm to do with the bars though...can't really keep them on me. I suppose I can look into opening a safety deposit box in my bank. Link to comment Share on other sites More sharing options...
Chunky1 Posted January 29, 2011 Share Posted January 29, 2011 (edited) This is like playing the money markets. Unless you are in the know about these matters or have money to lose in a gamble, my advice is; leave well alone, leave playing the game to the professionals. Whatever currency you hold, you are paying the money markets. The good thing about gold is that it can't be printed electronically. Edited January 29, 2011 by Chunky1 Link to comment Share on other sites More sharing options...
Sophon Posted January 29, 2011 Share Posted January 29, 2011 In 2003 Gold was around US 400.- per ounce, today it is over US $ 1,300.- . Asians in particular love Gold as an investment and, for example, as China and India become richer the demand will increase; so - long term - the price will continue to climb as demand increases and supply decreases. And in 1980 gold was over 800 USD per ounce. Like most investments the price of gold goes up and down making the timing of your investment critical. Had you bought at the wrong time in 1980 you would have had hold on to your gold for 28 years just to break even. Unlike what some people seem to believe there is no universal law that the price of gold can only go up. There is a saying about gold prices among traders that "the price of gold takes the stairs up and the elevator down", meaning that it can rise slowly and significantly over extended periods of time, but when the bubble eventually bursts the price goes down very quickly. Is now a good time to buy gold? I have absolutely no idea, so I don't. Sophon Link to comment Share on other sites More sharing options...
Chunky1 Posted January 29, 2011 Share Posted January 29, 2011 (edited) 1970's saw us go from gold standard to UST backed currency. what do we go to now? Edited January 29, 2011 by Chunky1 Link to comment Share on other sites More sharing options...
Naam Posted January 29, 2011 Share Posted January 29, 2011 This is like playing the money markets. Unless you are in the know about these matters or have money to lose in a gamble, my advice is; leave well alone, leave playing the game to the professionals. Whatever currency you hold, you are paying the money markets. The good thing about gold is that it can't be printed electronically. the bad thing about gold is that you don't know today what it will be worth tomorrow. Link to comment Share on other sites More sharing options...
manarak Posted January 29, 2011 Share Posted January 29, 2011 better than gold, buy ricefields or arable land. Link to comment Share on other sites More sharing options...
mstribling Posted January 30, 2011 Share Posted January 30, 2011 I've never personally bought gold in Thailand but am interested in acquiring some as an investment. Say I were to walk into one if the many shops at MBK, and I already know the daily rate for 1 baht of gold. How can I tell that the 1 baht gold necklace I'm holding is really 96.5% gild and not 50% or some other scam? jewelry is not an investment as you lose the value of the workmanship when trying to sell. moreover, any potential scamming with jewelry is much easier to accomplish than scamming with a gold bar. Your 100% right. Jewelry is not ideal for an investment. But like was mentioned earlier. Next to impossible to convince a Thai that, so I don't try. Actually, buying gold is one of the most scam free things you can do in Thailand. The shops are closely monitored. MBK would naturally be a spot, but the competition keeps them honest. They would rat a shop out that was scamming. IMO the best place to buy gold in BKK is Chinatown. Link to comment Share on other sites More sharing options...
Chunky1 Posted January 30, 2011 Share Posted January 30, 2011 This is like playing the money markets. Unless you are in the know about these matters or have money to lose in a gamble, my advice is; leave well alone, leave playing the game to the professionals. Whatever currency you hold, you are paying the money markets. The good thing about gold is that it can't be printed electronically. the bad thing about gold is that you don't know today what it will be worth tomorrow. How is that different than any other currency? Link to comment Share on other sites More sharing options...
jazzbo Posted January 30, 2011 Share Posted January 30, 2011 (edited) The good thing about gold is that it can't be printed electronically... Yes but it can be discovered and mined ... as in (JAN 27, 2011) Gammon Gold Reports a New Discovery with Significant Drill Results at the Recently Acquired Los Jarros Project, Located Near the Ocampo (Mexico) Operations Edited January 30, 2011 by jazzbo Link to comment Share on other sites More sharing options...
Bagwan Posted January 30, 2011 Share Posted January 30, 2011 Your wife is a very smart woman. When the food riots start an ounce of gold can maybe buy a house. I would look at buying some firearms to protect it. If my dear wife asked for 5 baht weight of gold I would be looking at acquiring a new wife. Link to comment Share on other sites More sharing options...
gregb Posted January 30, 2011 Share Posted January 30, 2011 Your wife is a very smart woman. When the food riots start an ounce of gold can maybe buy a house. I would look at buying some firearms to protect it. If my dear wife asked for 5 baht weight of gold I would be looking at acquiring a new wife. So would I. Any wife who doesn't know that the minimum amount you need for protection of any kind of wealth during the coming global collapse is at least 100 baht clearly does not deserve to be married period. My wife had better have a better grip on finances than that. And an ounce of gold will never buy a new house, at least not one you'd want to live in. 10 oz. of gold though.... Gold will only lose its value after the complete global collapse and currency reset has occurred. It is going to be horrible, and that horrible state is going to persist for a long, long time. There will be no doubt in your mind when it is time to trade in your gold. Until then, just exchange as much fiat as your finances allow for the yellow metal. Ignore the cheerleaders pushing cash and bonds and fiddling while the boat is sinking. Holding debt instruments like cash, treasuries or bonds is so unbelievably foolish in the present climate I can't believe anyone still subscribes to that anachronism. I mean, I know people once believed leaching was a good solution for medical problems too, but that doesn't mean we can't learn from our past ignorance does it? Buy gold. Seriously. Just do it. Cash is so much more dangerous that I can't even believe someone felt it necessary to start a post like this. Link to comment Share on other sites More sharing options...
jazzbo Posted January 30, 2011 Share Posted January 30, 2011 Until then, just exchange as much fiat as your finances allow for the yellow metal. Ignore the cheerleaders pushing cash and bonds and fiddling while the boat is sinking. Holding debt instruments like cash, treasuries or bonds is so unbelievably foolish in the present climate I can't believe anyone still subscribes to that anachronism. from My Cousin Vinny (1992) Judge Chamberlain Haller: Are you on drugs? However for an interesting article on how one can rationally play the gold market how about: 'Bet on Gold Nets Paulson $5 Billion' Published: January 28, 2011 NY Times http://www.nytimes.c.../29paulson.html ... and BTW in the world outside of ThaiVisa you haven't made a profit until you sell it. Link to comment Share on other sites More sharing options...
Digitalbanana Posted January 31, 2011 Share Posted January 31, 2011 This is like playing the money markets. Unless you are in the know about these matters or have money to lose in a gamble, my advice is; leave well alone, leave playing the game to the professionals. yea i know but try telling a thai woman that ive made enough bad investments over the years . Just buy what you are prepared to loose. Because whatever Thai gold you buy your woman will be the last you see of it. Link to comment Share on other sites More sharing options...
CanInBKK Posted January 31, 2011 Share Posted January 31, 2011 I've never personally bought gold in Thailand but am interested in acquiring some as an investment. Say I were to walk into one if the many shops at MBK, and I already know the daily rate for 1 baht of gold. How can I tell that the 1 baht gold necklace I'm holding is really 96.5% gild and not 50% or some other scam? jewelry is not an investment as you lose the value of the workmanship when trying to sell. moreover, any potential scamming with jewelry is much easier to accomplish than scamming with a gold bar. Your 100% right. Jewelry is not ideal for an investment. But like was mentioned earlier. Next to impossible to convince a Thai that, so I don't try. Actually, buying gold is one of the most scam free things you can do in Thailand. The shops are closely monitored. MBK would naturally be a spot, but the competition keeps them honest. They would rat a shop out that was scamming. IMO the best place to buy gold in BKK is Chinatown. That's a very valid point about the workmanship. So then how do I go about buying bars one ounce at a time? Is there a reputable place or a way to tell purity/quality? I remember back in Canada it was possible to buy gold coins/bars from the bank and I would feel comfortable doing that here too but not too sure buying from a shop in Chinatown is reliable. Link to comment Share on other sites More sharing options...
Forethat Posted January 31, 2011 Share Posted January 31, 2011 Your wife is a very smart woman. When the food riots start an ounce of gold can maybe buy a house. or an aircraft carrier. then one grows vegetables in the living room or on the carriers deck and avoids any food riots in a most elegant manner. What's the price if one employ a biling.....triling....multilingual gardener? Does it follow the same principle as in the case of german cars (the BMW gets cheaper if you employ a biling.....triling....multilingual gardener)?How many percent discount can one expect? Link to comment Share on other sites More sharing options...
Naam Posted January 31, 2011 Share Posted January 31, 2011 Your wife is a very smart woman. When the food riots start an ounce of gold can maybe buy a house. or an aircraft carrier. then one grows vegetables in the living room or on the carriers deck and avoids any food riots in a most elegant manner. What's the price if one employ a biling.....triling....multilingual gardener? Does it follow the same principle as in the case of german cars (the BMW gets cheaper if you employ a biling.....triling....multilingual gardener)?How many percent discount can one expect? how long does it take to get rid of poor boy complexes? Link to comment Share on other sites More sharing options...
Forethat Posted January 31, 2011 Share Posted January 31, 2011 Your wife is a very smart woman. When the food riots start an ounce of gold can maybe buy a house. or an aircraft carrier. then one grows vegetables in the living room or on the carriers deck and avoids any food riots in a most elegant manner. What's the price if one employ a biling.....triling....multilingual gardener? Does it follow the same principle as in the case of german cars (the BMW gets cheaper if you employ a biling.....triling....multilingual gardener)?How many percent discount can one expect? how long does it take to get rid of poor boy complexes? Oh..you're extending your opinion now to include "poor boy complexes"....? So you're saying that the price of a BMW AND the price of gold (said with the current topic in mind) is cheaper if you're employing a biling.....triling....multilingual gardener AND/OR if you have yet to rid of your "poor boy complexes"?? I have to admit, this just keeps getting better and better by the day Link to comment Share on other sites More sharing options...
PingManDan Posted January 31, 2011 Share Posted January 31, 2011 She won't get too much gold for (only) 5 baht Link to comment Share on other sites More sharing options...
Kimera Posted January 31, 2011 Share Posted January 31, 2011 When passing through the Dubai airport I always see little gold bars. I've thought about buying one or two each time I go through there, but haven't a clue which gold bar would be worth the expense (they have many different kinds...brands?). Any insight from those of you in the know? The value is relative to the purity, Link to comment Share on other sites More sharing options...
wolf5370 Posted January 31, 2011 Share Posted January 31, 2011 (edited) Your wife is a very smart woman. When the food riots start an ounce of gold can maybe buy a house. I would look at buying some firearms to protect it. If my dear wife asked for 5 baht weight of gold I would be looking at acquiring a new wife. So would I. Any wife who doesn't know that the minimum amount you need for protection of any kind of wealth during the coming global collapse is at least 100 baht clearly does not deserve to be married period. My wife had better have a better grip on finances than that. And an ounce of gold will never buy a new house, at least not one you'd want to live in. 10 oz. of gold though.... Gold will only lose its value after the complete global collapse and currency reset has occurred. It is going to be horrible, and that horrible state is going to persist for a long, long time. There will be no doubt in your mind when it is time to trade in your gold. Until then, just exchange as much fiat as your finances allow for the yellow metal. Ignore the cheerleaders pushing cash and bonds and fiddling while the boat is sinking. Holding debt instruments like cash, treasuries or bonds is so unbelievably foolish in the present climate I can't believe anyone still subscribes to that anachronism. I mean, I know people once believed leaching was a good solution for medical problems too, but that doesn't mean we can't learn from our past ignorance does it? Buy gold. Seriously. Just do it. Cash is so much more dangerous that I can't even believe someone felt it necessary to start a post like this. Of course leaching is exactly what they do for microsurgery and vein damage because the little blighters still close up a wound better than any Dr Frankenstine out there. Everyone is always talking about Gold and silver here - what about other metals - I guess industrial metals are not performing great (or are they with China building a new New York every weekend?) - but what about other precious (Platinum, Palladium, etc) ? Edited January 31, 2011 by wolf5370 Link to comment Share on other sites More sharing options...
Naam Posted February 1, 2011 Share Posted February 1, 2011 So you're saying that the price of a BMW AND the price of gold (said with the current topic in mind) is cheaper if you're employing a biling.....triling....multilingual gardener AND/OR if you have yet to rid of your "poor boy complexes"?? I have to admit, this just keeps getting better and better by the day it goes without saying who's poor complexes are meant. people who drive Fortuners in Thailand and worry about spots on them can't afford a BMW in any country... even if they'd employ a multilingual gardener (which of course they can't afford either). p.s. and no Basel III wet dreams will change these facts. Link to comment Share on other sites More sharing options...
Hollywood13 Posted February 1, 2011 Share Posted February 1, 2011 (edited) When passing through the Dubai airport I always see little gold bars. I've thought about buying one or two each time I go through there, but haven't a clue which gold bar would be worth the expense (they have many different kinds...brands?). Any insight from those of you in the know? The value is relative to the purity, I humbly apologize for boring you with my question and causing you to roll your eyes. I bow before your all-knowing wisdom. By the way, the reason I asked that particular question was because there is a premium on certain types of gold. Canadian Maple Leaf coins for example, are more valuable than coings of the same weight/purity. I was curious if the same applied to gold bars. Hmmm...it's no wonder I (and many others) limit my posting on this forum. Edited February 1, 2011 by Shivers Link to comment Share on other sites More sharing options...
Naam Posted February 1, 2011 Share Posted February 1, 2011 By the way, the reason I asked that particular question was because there is a premium on certain types of gold. Canadian Maple Leaf coins for example, are more valuable than coings of the same weight/purity. I was curious if the same applied to gold bars. there might be a slight difference depending on the area in case you want to sell. when buying there is no difference assuming 999 purity. Link to comment Share on other sites More sharing options...
Hollywood13 Posted February 1, 2011 Share Posted February 1, 2011 By the way, the reason I asked that particular question was because there is a premium on certain types of gold. Canadian Maple Leaf coins for example, are more valuable than coings of the same weight/purity. I was curious if the same applied to gold bars. there might be a slight difference depending on the area in case you want to sell. when buying there is no difference assuming 999 purity. Thanks for the reply Naam. When I pass through Dubai I will check their mark-up rate to the current gold price and see if it's a good deal or not. I'll also check around Thailand when I get there. Do you happen to know if there's an export (or import) tax on gold if taking it from one country to the next. I'd think that if it were gold coins (ones stamped with a face value), there wouldn't be because that would be like taxing money someone takes from one country to another...or is that just wishful thinking? Link to comment Share on other sites More sharing options...
Naam Posted February 1, 2011 Share Posted February 1, 2011 Do you happen to know if there's an export (or import) tax on gold if taking it from one country to the next. I'd think that if it were gold coins (ones stamped with a face value), there wouldn't be because that would be like taxing money someone takes from one country to another...or is that just wishful thinking? try to use the search function. this topic was discussed only a few days ago in a thread where people (including myself) agreed to disagree. gist of the thread: if you arrive with two or three ounces it is highly unlikely tat customs will bother you. Link to comment Share on other sites More sharing options...
Hollywood13 Posted February 1, 2011 Share Posted February 1, 2011 Do you happen to know if there's an export (or import) tax on gold if taking it from one country to the next. I'd think that if it were gold coins (ones stamped with a face value), there wouldn't be because that would be like taxing money someone takes from one country to another...or is that just wishful thinking? try to use the search function. this topic was discussed only a few days ago in a thread where people (including myself) agreed to disagree. gist of the thread: if you arrive with two or three ounces it is highly unlikely tat customs will bother you. Thanks...will see if I can track that thread down. Link to comment Share on other sites More sharing options...
Derifo Posted February 1, 2011 Share Posted February 1, 2011 This is like playing the money markets. Unless you are in the know about these matters or have money to lose in a gamble, my advice is; leave well alone, leave playing the game to the professionals. One baht of gold was 5k plus when I came here. A friend told me then to invest in gold, but I ignored him. Link to comment Share on other sites More sharing options...
draggons Posted February 1, 2011 Share Posted February 1, 2011 Think it was around 6000 when the missus managed to pry my fist open and start buying gold so I guess over the years it is an investment. Link to comment Share on other sites More sharing options...
RasiMike Posted February 1, 2011 Share Posted February 1, 2011 Think it was around 6000 when the missus managed to pry my fist open and start buying gold so I guess over the years it is an investment. 8000 Baht when I started loosening up. Despite the opinion of some on this forum - listening to our Thai wiveson the wisdom of investing in "Thai gold" whilst in Thailand may be a good idea every now and then. Link to comment Share on other sites More sharing options...
flying Posted February 1, 2011 Share Posted February 1, 2011 (edited) By the way, the reason I asked that particular question was because there is a premium on certain types of gold. Canadian Maple Leaf coins for example, are more valuable than coings of the same weight/purity. I was curious if the same applied to gold bars. Typically all gold bars premiums run about the same. I am speaking of name brand bars. At times you may find the premium for ones that come with assay cards a bit higher. As for Maples being higher than other coins....I have not found that to be true. The premium on a Maple is about the same as an Eagle, Krugerrand or a Philharmonic. The only one ounce gold coin (aside from MS-70 graded for beauty coins that collector types like)that does get a high premium is a Gold Buffalo & there is no intelligent reason for that. One ounce Coins like maples, eagles, krugs & phils are running $60-70 premium over spot in the US these days One ounce Bars are running around $45-50 over spot Premiums have recently risen here on both bars & coins. A good site for reference is APMEX http://www.apmex.com/Category/502/Gold.aspx Edited February 1, 2011 by flying Link to comment Share on other sites More sharing options...
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