Buying Gold In Bangkok

[kc_phil]

Hi Gang.

Is there a district in Bangkok where all the gold stores are located? I think there are some at MBK but i always feel like i am getting ripped off when i buy gold at a shopping mall.

Is there a district where you can go around and compare prices? Is the bargaining protocol different for gold than for other stuff? Do they generally try to over charge farang?

Experience? Advice? Anyone?

[CbrLad]

Is there a district where you can go around and compare prices? Is the bargaining protocol different for gold than for other stuff? Do they generally try to over charge farang?

Experience? Advice? Anyone?

Overcharging Farang is a national pastime, so yes they will try to overcharge you. The trick is to know what something is worth and be prepared to barter and walk away of you are not happy.

[simcity]

Do not buy the fancy gold from department store / or gold master !

Chinatown ( yolawat ) is recommended for the gold shops , the day price is on the door ( sale and buy ) you will be charge 200 – 300 baht extra for every bath ( gold weight ) on jewel ( cost of labor ) !

The price today is around 11400 baht for 1 baht !

a chain vary between 1 baht to 3 baht

[lopburi3]

As said Chinatown is the gold center and hua seng heng is considered one of the most reliable. The price is fixed so the only talking point is work and there is not much room for lowering the price there either. And no, you should not be cheated at a legit gold store. Just remember that 100% is full 22/23k gold (it does not mean 24k or 100 percent gold which is impossible).

[daleyboy]

I would also reccommend a little gold shop on Sukhumvit 71.

To get to it turn left onto suk71 from sukhumvit end and about 2-3 hundred metre you will see a pedestrian crossing, on the right you will see a little gold shop with a sliding front door, and this is where the wife always buys and sells her gold, the workmanship, quality and price all seem very fair There are 2 shops here, one on the corner of a small soi that leads to a market and the one we use a little bit away from this one

[simcity]

if you looking at only investing to go for the gold bar is bit cheaper , gold contain just a bit more high and no labor cost ! they have 1-2-5-10 baht as weight

[kc_phil]

if you looking at only investing to go for the gold bar is bit cheaper , gold contain just a bit more high and no labor cost ! they have 1-2-5-10 baht as weight

Not really investing, just wanna buy something nice for the girl and make sure i get the most for my money.

What is '1 bath'? Is that a weight of gold? How does it compare to western measurements?

[Donz]

Chinatown is the key, i always bought mine from there, once i got a real bargain and sold the chain in australia and made a nice profit of it.

Also they have a better selection of chains

[nostrel]

check the daily bullion price, weigh chain at shop on scales ,note weight price they charge usually posted , work out on calculator the price allowing for % of gold content. so whos getting ripped ?

you can then work out the manufacturing cost .all very easy to do .

[Heng]

As said Chinatown is the gold center and hua seng heng is considered one of the most reliable.

Seconded. One might also find the Seacon Square location a bit more easier to get to and most certainly easier to park at.

[swissie]

Somebody enlighten me:

I hear that the actual spread between BUY/ SELL price alone is about 20 %. If correct, that would mean that the price of Gold would have to rise 20 % before a profit is made?

I am ignorant as far as this is concerned. Enlighten me!

Cheers.

[BeautifulSheer]

thai standard gold is 23K = 96.5% gold (as u can find in gold shops throughout Thailand)

gold weight 1 Baht = 15.2 g.

where to buy?

any shops in China town are recommended...

they are in the gold trader association..

and checked by government so u wont get less than 96.5%...

u can find the price (per 1 baht weight) of gold written in front of every gold shop..

(and again.. its thai standard price at the time)...

plus labour cost of each piece of ur gold jewelry..

(start from few hundreds baht depends on the designs)

u can get a little bargain for the labour cost too

PS. not that government doesnt check any other shops outside china town..

most of them are checked and no problem for % of gold...

but who knows? u might just walk into the bad one (which is very rare)

Edited August 16, 2006 by BeautifulSheer

[simcity]

Somebody enlighten me:

I hear that the actual spread between BUY/ SELL price alone is about 20 %. If correct, that would mean that the price of Gold would have to rise 20 % before a profit is made?

I am ignorant as far as this is concerned. Enlighten me!

Cheers.

If you buy jeweler gold, you will resell you gold at weight price , lost perhaps 200 baht for 1 baht plus off course the labor !

if you sell gold bar you will lost just the difference between sell and buy .

20% is not the figure ! perhaps 1.8 % to 2 %

But off course that include no movement of the price of gold during the time you hold it !