Really simple q about gold

[bizzle]

If I bought some thai gold in Thailand eg bracelet necklace etc and then sold it in Australia to a jewelers would I actually make money?

I know it's very simple but just wanted to know

[Pib]

I expect if a foreign jeweler wanted to get into the business of selling Thai gold (i.e., 23K gold vs 14K or 10K gold usually sold in western countries) he would import/buy it wholesale. I would be surprised if he would even pay you what you paid for it.

[paddyjenkins]

In USD, what is the price today in Thailand for an ounce of Thai 23k Gold and what is the price today, in USD, for an ounce of 10k Gold in Australia?

Edited December 3, 2014 by paddyjenkins

[fletchsmile]

If you're looking to arbitrage prices - no.

I know quite a few people who are/ have been involved in the jewellery business here that have done well exporting. Their value add is taking the materials and manufacturing/ producing/ processing though. It's not simply a buy and sell for them for export.

Cheers

Fletch

Edited December 3, 2014 by fletchsmile

[Robert24]

No.