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New Gold Regulations


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Just read in that other newspaper that we can't mention here that new regulations have been announced in relation to gold transactions worth 700,000 baht or more.

The new regulations take effect today (Thursday, Aug 25) & buyers & sellers must now "show their identification cards to gold shop operators".

I assume that foreigners will simply show their passports, and otherwise it will be busines as usual ... but would be interested to hear accounts from those undertaking transactions after today.

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First thing I thought of when I read the story the OP speaks of is the 1933 Executive Order 6102 in the USA.

If it gets too bad and hording becomes an issue, now the Thai government will know who has the largest amounts of gold, so when it comes time to confiscate it, it's easier.

Simple solution, don't buy over 700k worth and stay under the radar. Just in case.

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