Thai Gold, the lowdown?

[mogandave]

Gold bars offered for sale at Bangkok Bank are advertised as being 95% pure. That's generally considered too soft for Western-style jewellery (it scratches very easily), but is not pure enough for sale on international bullion markets, where .999 (99.9%) purity is the standard. Caveat emptor.

for the record: Thai Gold has a purity of 96.5% not 95%, correct is that the bars cannot be easily sold outside Asia. moreover, gold bars are usually bought not to produce western style jewelry but as an investment diversification.

While you would not get the same price for a Thai gold bar then you would for a "registered" gold bar, they are reasonably easy to sell most anywhere.

Dubai is a good place to buy bars.

[Dimpys Dad]

I know Dubai is a good place to buy gold bars, but I have heard that Thais do not like to trade in non-Thai gold so I have been reluctant to buy there. Is this true?

[mogandave]

I haven't sold any of the bars I got in Dubai, but why they would not buy them?

I had no trouble selling a gold crown at one of the MBK gold shops a few years ago, if the'll buy dental gold from the US, why would they not buy a bar from Dubai?

[Dimpys Dad]

What I heard was that Thais don't like the color of non-Thai gold, that's all. But wasn't sure if that was generally true or if I just got one person's opinion. Don't remember where I heard it.

[paz]

Because the purity would be different, then the need to assay it. As with everything, buying is easy, selling is not. If you want gold to trade internationally use recognized coins like British sovereigns, Australian bullion coins, and the like.

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[mogandave]

I would hang around outside 7-11 trying to sell a gold bar, I would go to a dealer that was able to determine the content. Again, I had no trouble selling dental gold at shop here, why would the same shop not buy a bar?

Gold bars from Dubai are the same color as gold bars from Thailand, and have a higher gold content/value.

But to be clear, I look at gold as a buy and hold. If you want an investment vehicle that provides quick access to ready cash, get a bank account with an ATM card.

[citizen33]

One interesting point is that, although the bar price in the gold shops is exactly in line with that published by the Gold Traders Association, the ornament price in my experience tends to be higher than the quoted GTA price. For example, a week or so ago when I purchased two baht for my wife, the GTA ornament price on the web was 19250 per baht, while most shops were asking closer to 19950 for jewellery (96.5%). Just to avoid confusion the bar price was around 18800. I'm not sure whether this is something that applies more to tourist areas, or if I have misunderstood. Anyway I've found that some shops can be bargained down a little on the jewellery price, and in this instance I got the shop to agree to 19500 per baht.

[paz]

Fine jewelry requires lot of work and certain pieces are difficult to make. It is right that they cost more than the raw material.

[paz]

Fine jewelry requires lot of work and certain pieces are difficult to make. It is right that they cost more than the raw material.

I meant 'standard ornament grade' not raw material.

[GaryB1263]

This is an excellent thread. Thanks to the OP. As an investment I would stay away from gold the first half of 2013. You would do fine to buy your necklaces in the stores that have red displays.

[Naam]

What I heard was that Thais don't like the color of non-Thai gold, that's all. But wasn't sure if that was generally true or if I just got one person's opinion. Don't remember where I heard it.

there is no noticeable difference in colour between 23 and 24 karat but quite a difference between the usual non-asian jewelry 18k and 23 or 24k.

[Naam]

I know Dubai is a good place to buy gold bars, but I have heard that Thais do not like to trade in non-Thai gold so I have been reluctant to buy there. Is this true?

gold in Dubai is not a penny cheaper than in Thailand. fine gold 999 can be sold in Thailand but not in every shop because the demand (resale) is very low.

[mogandave]

I know Dubai is a good place to buy gold bars, but I have heard that Thais do not like to trade in non-Thai gold so I have been reluctant to buy there. Is this true?

gold in Dubai is not a penny cheaper than in Thailand. fine gold 999 can be sold in Thailand but not in every shop because the demand (resale) is very low.

But it is much easier to sell in most other markets, but again, I look at gold as a buy and hold.

A

[Bmouthboyo]

So in lay and terms if the display was for example 18000 baht that would be for a baht, so roughly half an ounce. If I wanted a simple 1 oz curb necklace, I would pay 36000 baht? Or would all the jewellery in the shop be different prices dependent on what the owner thinks craftsmanship should be?

Basically I am trying to arm myself with knowledge so that if he puts the jewellery in the scales and I see it's an ounce I know it should cost twice the cost of a baths worth that is in the window and listed in the exchange.

[DickFarang]

What I heard was that Thais don't like the color of non-Thai gold, that's all. But wasn't sure if that was generally true or if I just got one person's opinion. Don't remember where I heard it.

there is no noticeable difference in colour between 23 and 24 karat but quite a difference between the usual non-asian jewelry 18k and 23 or 24k.

Asian people, not only in Thailand, but also in Indonesia, can see the difference between 22 karat and 23 karat.

Toledo (Spain) is famous for its jewellery in two gold “colours”: 22 karat next to 23 karat.

Gold of 18 karat (or less) is not popular in Asia and you will not find it in gold shops, but in jewellery shops only.

[DickFarang]

So in lay and terms if the display was for example 18000 baht that would be for a baht, so roughly half an ounce. If I wanted a simple 1 oz curb necklace, I would pay 36000 baht? Or would all the jewellery in the shop be different prices dependent on what the owner thinks craftsmanship should be? Basically I am trying to arm myself with knowledge so that if he puts the jewellery in the scales and I see it's an ounce I know it should cost twice the cost of a baths worth that is in the window and listed in the exchange.

Bangkok Post typically publishes gold prices every morning as follows:

“Gold prices up 100 baht

The Gold Traders Association this morning announced buying prices at 18,480.04 baht per baht-weight for gold ornaments and 18,750 baht per baht-weight for gold bar.

Selling prices were set at 19,250 baht per baht-weight for gold ornaments, and 18,850 baht per baht-weight for gold bar.

This means gold prices were up 100 baht from yesterday’s close.

Buying prices yesterday closed at 18,373.92 baht per baht-weight for gold ornaments and 18,650 baht per baht-weight for gold bar.

Selling prices closed at 19,150 baht per baht-weight for gold ornaments, and 18,750 baht per baht-weight for gold bar.”

Prices are, however, varying during the day.

When buying gold bars in places outside Bangkok Chinatown, say in Pattaya, you will be charged 200-300 baht more per baht-weight of gold.

Common gold bars are 5 and 10 baht-weight of gold; for gold bars of one baht-weight of gold only, you will be charged about 200 baht more per baht-weight of gold.

When selling back at the same gold shop, you will get the official buying price of the day; in other gold shops some hundred baht less per baht-weight of gold.

Always keep the invoice as a proof of where you bought the gold.

All gold shops have precision scales and bars and ornaments (jewellery) are always weighed in your presence.

In gold shops, ornaments (jewellery) are sold in multiples of half baht-weight.

Elaborate ornaments (jewellery) can cost some hundred baht more per baht-weight of gold.

[mogandave]

In Toledo (Ohio) I can buy gold in any number of colors, all the same karat.

The color difference comes from the alloy, not the gold content.

[Naam]

In Toledo (Ohio) I can buy gold in any number of colors, all the same karat.

The color difference comes from the alloy, not the gold content.

only in Toledo (Ohio) exists a secret procedure that can produce 24 karat gold in any number of colours

[DickFarang]

In Toledo (Ohio) I can buy gold in any number of colors, all the same karat.

The color difference comes from the alloy, not the gold content.

In Toledo (Ohio) I can buy gold in any number of colors, all the same karat.

The color difference comes from the alloy, not the gold content.

only in Toledo (Ohio) exists a secret procedure that can produce 24 karat gold in any number of colours alt=tongue.png pagespeed_url_hash=3761137055 width=20 height=20>

There are many Toledo’s in America (Northern, Central and Southern) and even one in the Philippines, but the original one is in Spain.

[Naam]

In Toledo (Ohio) I can buy gold in any number of colors, all the same karat.

The color difference comes from the alloy, not the gold content.

In Toledo (Ohio) I can buy gold in any number of colors, all the same karat.

The color difference comes from the alloy, not the gold content.

only in Toledo (Ohio) exists a secret procedure that can produce 24 karat gold in any number of colours alt=tongue.png pagespeed_url_hash=3761137055 width=20 height=20>

There are many Toledo’s in America (Northern, Central and Southern) and even one in the Philippines, but the original one is in Spain.

you don't say!

[AlanL1275]

I have had few pieces of my 96.5 gold tested with an X-ray tester.

"All tested to be 92.5%", and didn't make any difference if from Chinatown, or a gold shop in a dept. store.

As long as it is sold in Thailand, it will be treated as 96.5%, so no problem with the profit.

Only if I took it somewhere like the USA and they paid me based on tested content 92.5% I would lose approx 4%.

I have bought and sold bar gold, and by buying 5 baht bars, I paid no fee for making the bar.

I have also tested many pieces of Silver. It ranged from 92.5% to 97% in purity. Never below 92.5.

[mogandave]

In Toledo (Ohio) I can buy gold in any number of colors, all the same karat.

The color difference comes from the alloy, not the gold content.

only in Toledo (Ohio) exists a secret procedure that can produce 24 karat gold in any number of colours

Only one color available in 24 karat as far as I know.