Invest In Gold

[psychosid10]

Gentlemen

I would like to invest my savings in Gold. From what i have read n heard , they say its better to invest in gold biscuits rather than ornaments , Is that true ?

Also what is the best place to buy gold in bkk ?

is there a particular shop where any one of you suggest i should buy from ?

Edited September 29, 2005 by psychosid10

[LivinLOS]

Depending on the amount of bullion you wish to purchase you might want to consider paper gold certifcates such as the perth mint certs..

Can be bought from Kitco.com..

Negates storage risks and gold quality issues.. I personally would be nervous of buying bars or coins in Thailand.. Bullion accounts are also avalkable with Kitco but I prefered the western Oz governement backing the paper rather than Kitco the private company..

[Heng]

Assuming you own a home, have a pretty good safe(s), and your home itself is located somewhere safe (gated community, have family/servants home all the time, etc.), you can get 5 and 10 Baht minibars (kind of hard to call them a "bar" when they are only as big as bar of airplane soap) at Hua Seng Heng.... at Yaowarat (3 branches) and another branch at Seacon Square for the going rate (no labor costs added, obviously).

[psychosid10]

Thanks Heng,

Thanks a lot for the info .. just 1 question ..

Cant i buy and keep the bars in the bank locker ? Is there a problem in doing that ?

[Heng]

Not a problem at all. Even safer.

[simcity]

Conceder purchasing gold bar for investment a bit better as ornament (content of gold) , the price is similar .. One has labor cost the other gold content bit higher!

China town is reputable for gold purchases.

Think it will be hard for you to resell outside Thailand!

[zxray]

Conceder purchasing gold bar for investment a bit better as ornament (content of gold) , the price is similar .. One has labor cost the other gold content bit higher!

China town is reputable for gold purchases.

Think it will be hard for you to resell outside Thailand!

<{POST_SNAPBACK}>

I personaly would not buy Thai bullion. For the same reason somewhat difficult to sell outside of Thailand. I would purchase Maple leaves, or some other 24kt. coins. Avoid Rands also if planning on selling them in Thailand, as the copper content makes them very difficult to sell in Asia.

I invested in gold this June, because of the oil and terorist situations, also the continuing decline of the USD. I purchased Canadian Maple leaves.

Doing well, up about 11% Good Luck

Ray

[trt]

You can always invest in Gold Mining Companies... if you want something with a Thai flavour then go for KCN (ASX listed) they have been making some good money..

[chownah]

You don't need to worry about where to keep gold....just bury it somewhere...it doesn't rust you know....just don't forget where.

[psychosid10]

i am sorry but what are canadian maple leaves. I never knew they could be bought and sold i thought it was .. well .. just a leaf .. Please enlighten me on this !

Edited October 3, 2005 by psychosid10

[LivinLOS]

https://online.kitco.com/sellprice/completelist.html

Click the maples links for picture..

BTW google is your friend..

[frenchFARANGbkk]

Hi,

Today the gold price is 9300, do you think it will never get lower?

Thanks!

[LivinLOS]

No price rises smoothly.. There has been a very solid rn up in the last month(s) and I can imagine some kind of breather may be required to tackle the 500 USD barrier.. A pullback to the 460 regions is possible in the near term..

That said I think gold will amaze people by its appreciation in the coming years, so a % here or there is not bothering me or stopping me investing.. Been hoarding gold since the 380 USD and 320 Euro prices.. Mining sector has done superb.. Fortuna (silver play) has retured 50% this month alone..

[simcity]

Hi,

Today the gold price is 9300, do you think it will never get lower?

Thanks!

<{POST_SNAPBACK}>

I agree with livinlos and will not be surprise to see a pull back and up again !

but sometime a rise or a pull back do not affect the price so much in Thailand .

First invest only what you can afford to lose ! and be happy with your purchases!

Mint certificate are the most easy , mainly for silver view the weight factor

Buy gold in Thailand is good , if you have a good place to hold it and sell it back here !

Buy shares can be good and disastrous , i got burn with Son and Gwalia but make a very nice return with Highland ( Australian shares )

To hold some gold and not expecting a miracle is wise !

[trajan]

Assuming you own a home, have a pretty good safe(s), and your home itself is located somewhere safe (gated community, have family/servants home all the time, etc.), you can get 5 and 10 Baht minibars (kind of hard to call them a "bar" when they are only as big as bar of airplane soap) at Hua Seng Heng.... at Yaowarat (3 branches) and another branch at Seacon Square for the going rate (no labor costs added, obviously).   

<{POST_SNAPBACK}>

they have 5, 10 and 25 Baht bars of 96.5% purity www.huasengheng.co.th

today's (Oct 28) price is about B9,100 per one baht weight

[The_Moog]

I don't think 96.5% purity is 'Good Delivery' in all markets.

When I worked in the gold markets it was 999 or 9999 in bar form.

I'll see if I can find out.

One important thing is that you want to buy free of sales tax or VAT.

(Hey Simcity- I also got burned with Sons of Gwalia - what exactly happened to them?)

[trajan]

I don't think 96.5% purity is 'Good Delivery' in all markets.

<{POST_SNAPBACK}>

if you are buying 5, 10 or 25 Baht gold bars at the local standard purity levels you are presumably going to sell them back locally...so international "good delivery" standards would not be relevant...

By the way, "good delivery" refer to rather large gold bricks of high purity...(the local Baht weight wafers are much smaller):

"Good delivery" for the London Bullion Market is the internationally accredited good delivery standard. A good delivery bar for London should weigh between 350 and 430 ounces (gold content), of minimum purity 99.5% (two nines five).

[clokwise]

I'm surprised no one has yet mentioned buying an ETF. Check out STREETTRACKS GOLD TR (NYSE:GLD). You can trade it just as if it were any other stock, price is 1/10 the price of 1 Oz. Gold. It makes trading gold as convenient as trading any other shares - I can do it online, with SELL or BUY triggers etc. It's also a heck of a lot safer than keeping it locked up in my safe.

Another good option to consider is Aussie mining shares.

Personally, I'm buying as much gold as possible and holding long. The US economy is gonna tank sooner (probably) or later. It's also proven to be a very good short term investment, as others have noted already.

[thaistick]

I'm surprised no one has yet mentioned buying an ETF. Check out STREETTRACKS GOLD TR (NYSE:GLD). You can trade it just as if it were any other stock, price is 1/10 the price of 1 Oz. Gold. It makes trading gold as convenient as trading any other shares - I can do it online, with SELL or BUY triggers etc. It's also a heck of a lot safer than keeping it locked up in my safe.

Another good option to consider is Aussie mining shares. 

Personally, I'm buying as much gold as possible and holding long. The US economy is gonna tank sooner (probably) or later. It's also proven to be a very good short term investment, as others have noted already.

<{POST_SNAPBACK}>

I would consider CEF,Central Fund of Canada,a safer play then GLD.

I also believe the American bubbles economy will suffer a collapse some time in 2006,so if it does I would be wary about America's banks and markets.I like Australia's geographical and resource position and would stick with my Perth Mint certificates.Silver is about ready to explode with talk of the new silver ETF and its opposition by the Silver Users Association and the scarcity and cheap price of silver is getting more coverage in the mainstream financial press.