Where to buy little gold bars in thailand

[mamui]

If one wanted to keep some actual gold as savings for future rather than paper how and where to buy as them red shops charge 1000+ for every time one buys or sells back a piece of gold jewellery. If one wants actual gold but not jewellery.

I'm sure someone knows.

[MrWorldwide]

Yaowarat Road.

http://gold.yabz.com/where_to_buy_gold.htm

Between the traffic and the queue at those shops, it's unlikely to be the best day you've had in Thailand.

[lenna00]

ah that would be the little gold bar shop.

last i read long ago farang cant buy gold in thailand.

some sort of trading in gold occurs on the http://www.set.or.th but cant recall the details. probably has a lower turn around premium too.

edit: gold future in the derivatives tab on the front page right hand side.

[MrWorldwide]

If Farang aliens cant buy gold in Thailand, I dont know what all the Indians are doing in the gold shops on any given day. *Getting it out of Thailand* is the hard part, and you can be jailed if they catch you trying to smuggle it back into India, but I have little doubt that it's happening.

[lenna00]

If Farang aliens cant buy gold in Thailand, I dont know what all the Indians are doing in the gold shops on any given day. *Getting it out of Thailand* is the hard part, and you can be jailed if they catch you trying to smuggle it back into India, but I have little doubt that it's happening.

as far as i am aware gold has an international price so where is the motivation to smuggle it across borders? i.e. why not just buy it in india. unless it is the jewelry design they are after? but then bangladesh is nearer and has very good design stuff to my casual eye. perhaps they are thai indians, i really dont know. i dont have any inclination at all to hang out in these places.

[chris2004]

In most of the gold shops in Pattaya i see little 1 baht/2 baht gold bars for sale.

[saakura]

You can buy gold bars of various denominations in multiples of 15.2grams (1 baht) at any of the hundreds of gold shops in Bangkok. Prices are the same everywhere. So better to buy from one of the bigger shops in Yaowarat or in Central / Robinson stores. No restriction on any nationality. Pay cash.

[MrWorldwide]

 

If Farang aliens cant buy gold in Thailand, I dont know what all the Indians are doing in the gold shops on any given day. *Getting it out of Thailand* is the hard part, and you can be jailed if they catch you trying to smuggle it back into India, but I have little doubt that it's happening.

as far as i am aware gold has an international price so where is the motivation to smuggle it across borders? i.e. why not just buy it in india. unless it is the jewelry design they are after? but then bangladesh is nearer and has very good design stuff to my casual eye. perhaps they are thai indians, i really dont know. i dont have any inclination at all to hang out in these places.

 

Seems you've missed the boat on a very lucrative industry - you just have to find a way around the 10% import duty the government charges to bring gold into India.

http://goldnews.bullionvault.com/gold-bullion-090420131

Compared to the 69 kilograms caught so far, however, police spokesman Nawaraj Silwal reckons only 10% of illegal shipments are stopped.

http://blogs.wsj.com/indiarealtime/2013/07/26/gold-smugglers-tricks/

http://goldnews.bullionvault.com/gold-bullion-090420131

No idea how many people you would have to bribe if they caught you, but the last place I want to see on my next OS trip is the inside of an Indian jail. If the streets look like a public toilet, one can only begin to imagine the inside of their jails. When you read the reasoning behind the import duty and the subsequent illegal trade - a currency in freefall - suddenly the OP's reasoning isn't completely without merit. For years we've pilloried anyone buying gold as an open invitation to certain lower Suk 'entrepreneurs' to relieve them of their golden trinkets, but when you see how quickly the Indian government raised the duty from 2% to 10%, I have little doubt picturing a massive queue outside the Yaowarat gold shops, even if the international price hasnt been everything some in BKK seem to be hoping for.

[EyesWideOpen]

Guess the little bars would be too small to put in tungsten slugs into....... :-)

[bigjohn2]

without reading the link. so you are going to make a 10% profit while risking heavy jail sentence. things in the legal commodity world must be tough. 200% and i might even start to be tempted.

[MrWorldwide]

without reading the link. so you are going to make a 10% profit while risking heavy jail sentence. things in the legal commodity world must be tough. 200% and i might even start to be tempted.

Supply and demand. As the Rupee falls, the value of any gold you *do* get past Immigration goes up, and if it's genuine Thai gold it will be much closer to 'pure' gold than anything your competitors are trying to sell. As for the risks, that's why criminals pay gullible couriers who think the equivalent of a few hundred dollars is a lot of money. The proceeds of crime magically become gold - literally.

[AlexRRR]

_{There is a cute Nigerian crusin downtown somewhere she has a pretty good deal on gold if your interested, you cant miss her, very attractive long curly hair and same tan as a thai, maybe just a touch darker, shes eager to please.}

[mamui]

Thank you for that information. That's what I wanted to hear.

[giggles]

in the UK theres a vending machine system where you can buy small gold bars ,but not seen in LOS yet

[Somchai Mao]

Gold is the same price wherever you go. If you buy it as a tangible bar you pay extra. If you want to invest in gold as a commodity then use the stock markets. Think the red shop 1000 baht as the trading spread. Commodity trading is a much smaller spread/trade price.

[mamui]

Gold is the same price wherever you go. If you buy it as a tangible bar you pay extra. If you want to invest in gold as a commodity then use the stock markets. Think the red shop 1000 baht as the trading spread. Commodity trading is a much smaller spread/trade price.

Stock markets are for insiders. Fair play to them that can grow real physical value from there.

For my thinking real gold is actually gold and stocks just a shared make believe.

And one can bury real gold in the field. How would one bury futures in the field.

[MrHammer]

Guess the little bars would be too small to put in tungsten slugs into....... :-)

This is actually a good point. Tungsten fraud happens a lot more than people would like.

How would you be sure that you have the real deal unless you drill into it: