Gold Price Rising Up And Highly Intelligent Mathematicians At Gold Shops...

[lostinisaan]

Sawasdee Khrap,

I just kept my promise and bought one baht of gold for my lovely wife. The shop next door was already 1,000 baht more expensive per Thai baht. = 15.26 grams.

I've read some articles about certain European countries who seem to struggle. Is it possible that the gold price is on the rise now?

The lady at the shop told me we would get a discount of 30 %? I was asking a few times if it's really 30 % and she insisted with yes.

Then asking her what 10 % of 20,000 baht would be couldn't be answered by this highly intelligent person, nor did any other employee know anything about percentages.

The conversation was in Thai.

We finally got it 600 baht cheaper, which is 3 % of the wanted amount.

When we left the shop, they still told customers that they'll get a 30 % discount.

Amazing Thailand.

[saakura]

It took more than 2 readings to understand your story. And i assume english is your first language. So when you say you spoke in thai to the shop attendant, i wonder how much of it they understood?

[malt25]

Me thinks English isn't their first language.

"Gold Price Rising Up And Highly Intelligent Mathematicians At Gold Shops."

Gold price would hardly be rising down !!!

[mick220675]

I do not know anything about gold but I do know percentages are not commonly understood in Thailand. Some years ago my wife's brother refused to drive a tractor for us paying 300 baht a day but was happy to work for 20% of the total days profit resulting in him earning around 280 baht a day. The university educated nice of my wife could not tell me what 10% of 100 is, I believe it is something they are not taught possibly why the banks and lone sharks are happy and the farmers are in big trouble.

[thrilled]

Gold is A hedge.When the market goes down Gold goes up.I have some but not even 5% of my net worth.

[lostinisaan]

I do not know anything about gold but I do know percentages are not commonly understood in Thailand. Some years ago my wife's brother refused to drive a tractor for us paying 300 baht a day but was happy to work for 20% of the total days profit resulting in him earning around 280 baht a day. The university educated nice of my wife could not tell me what 10% of 100 is, I believe it is something they are not taught possibly why the banks and lone sharks are happy and the farmers are in big trouble.

I had my wife with me and she didn't really get it. When I was asking the employee what 10 % of 20,000 would be, she couldn't answer me.

Nor could the other employees.

I never thought about your point how easy it is for loan sharks to have a signed contract stating a 45 % interest per month/year.

Thanks a lot for pointing that out.

[rodcourt49]

Gold is A hedge.When the market goes down Gold goes up.I have some but not even 5% of my net worth.

..so it necessarily follows then... if it was 10% of your net worth..you wouldn't be able to calculate it

[NeverSure]

It took more than 2 readings to understand your story. And i assume english is your first language. So when you say you spoke in thai to the shop attendant, i wonder how much of it they understood?

He is German and his English is very good. How good is your German?

Yes he speaks Thai too. How good is your Thai?

Sometimes I get sick of the axxholes on TVF who think they are professional critics and want to insult rather than discuss the topic. If you don't understand something the polite thing to do would be to ask for a clarification.

Cheers.

[manxninja]

Funny thing Thai ladies and gold.

My missus was offered 3 baht of gold to buy from a friend with a gambling problem, say no more.

Anyway I said I would buy it for £900.00 the gold is a thick bracelet. Anyway the Thai selling it said she could sell it for more in Thailand and didn't want to know.

Most thais will not sell gold for less than they paid for it, there seems to be no understanding of second hand market value.

I guess il never work them out.

[DogNo1]

Uh, yes lostinisaan is German but his English is not easily intelligible some times. NeverSure-you are German too, right. Hence the over-the-top defensiveness.

I see no fault in calling out English that isn't clear. Let's write English as clearly as we can and call for clarification when we need it.

[DogNo1]

Oh, an anecdote about percentages. I once owned three mutual funds at a brokerage in the USA which declined between 65 to 70% in value during the dot com bubble. When I called the brokerage to sell the funds, the financial "counselors" (actually just salesmen) urged me to keep the funds because they would "recover." They couldn't seem to explain what that would entail. So I asked them a simple question: how many percent would my fund's basis have to increase for me to get back to even? They couldn't give a correct answer. Now even at other financial firms, I find "advisors" who can't tell me how many percent a fund would need to gain to recover from a 50% loss. Most of them say 50% and these are supposedly qualified American financial advisors. They are in fact shills and salesmen, nothing more. Not much better than the Thais that you mention.

[TheCruncher]

Uh, yes lostinisaan is German but his English is not easily intelligible some times. NeverSure-you are German too, right. Hence the over-the-top defensiveness.

I see no fault in calling out English that isn't clear. Let's write English as clearly as we can and call for clarification when we need it.

What you mean his English is not easily intelligible? He teaches English in a school.

[Mojomor]

Unfortunately, percentages by their nature are not precise.

For example a sales price of 100 with a discount of 20% means a new price of 80.

A cost of sale price of 80 with a markup of 25% is 100.

It is very easy to get percentages mixed up. As a result, scientific calculators for many years never had a percentage function on them. Perhaps they do not have them now.

[NeverSure]

Uh, yes lostinisaan is German but his English is not easily intelligible some times. NeverSure-you are German too, right. Hence the over-the-top defensiveness.

I see no fault in calling out English that isn't clear. Let's write English as clearly as we can and call for clarification when we need it.

I'm American FWIW. I don't like the style of posting that doesn't simply ask for clarification instead of bashing. I don't understand why so many seem to delight in criticizing others for their English and in an insulting way.

I don't know any German other than the names of a couple of their very good beers, LOL.

Cheers.

[never me]

Uh, yes lostinisaan is German but his English is not easily intelligible some times. NeverSure-you are German too, right. Hence the over-the-top defensiveness.

I see no fault in calling out English that isn't clear. Let's write English as clearly as we can and call for clarification when we need it.

I'm American FWIW. I don't like the style of posting that doesn't simply ask for clarification instead of bashing. I don't understand why so many seem to delight in criticizing others for their English and in an insulting way.

I don't know any German other than the names of a couple of their very good beers, LOL.

Cheers.

NeverSure, From my experience people that do this are trying to put others DOWN.....Why? Because they think that they are putting themselves UP.

For the OP I take my hat off to you for being able to speak 3 languages. Dont worry about the JERKS on here that seem to think they are better than others.

[Rob13]

percentages by their nature are not precise.

No, by their nature they are precise. That's why people use them.

A cost of sale price of 80 with a markup of 25% is 100.

a markup of 25% of what?

The imprecision comes from saying '25%' without any qualifier. ie 25% of what? the original price,the sales price,the MSRP? it's the scam retailers have been using for ages. "Buy now and get 25% more' Sounds good but carries no meaning.

[Suradit69]

We finally got it 600 baht cheaper, which is 3 % of the wanted amount.

Dollar pricing on exchanges is based on 24 carat gold or 99.5% fineness per troy ounce (about 32 grams). The gold you bought is almost certainly 23 carat or 96.5% fineness. Shops in Thailand normally use the price set by the Thai Gold Traders Association in Bangkok. The dealer I normally buy from will always check the price on his mobile phone at the time of sale ... which may defer from the price posted in the shop window in the morning ... and show it to me for confirmation. They also add on a commission.

If you got a 3% discount to the "wanted price," the "wanted price" was probably at least 3% more than the set price. Under-estimating the intelligence of the gold seller and over-estimating how clever you are is probably good for your ego and for his profits.

Thai baht. = 15.26 grams.

Thai baht is the name for the currency just as pounds sterling is the name for British currency. Baht, pounds, tael, salung, etc are weight measures.

One baht weight of 23 carat gold is 14.71 grams of "pure" gold.

Thai Gold is measured in "Baht" and is not to be confused with the same word for Thailand's Currency.

Baht is a unit of weight measurement for Gold in Thailand where 1 Baht is equal to 15.244 grams in raw bullion form or 15.16 grams when it sold as jewellery. Thai Gold is also measured in "Salung" which is a smaller unit when compared with Baht, where 1 salung is a quarter baht (0.25 baht) or 3.81 grams.

A purity of 96.5 percent means in 1 Baht of Gold 96.5 percent of it is pure gold while the rest is made of metals such as silver.

Hence, in 1 Baht Gold there is normally 14.71 grams of pure gold which is a little less than half a troy ounce

[lostinisaan]

Uh, yes lostinisaan is German but his English is not easily intelligible some times. NeverSure-you are German too, right. Hence the over-the-top defensiveness.

I see no fault in calling out English that isn't clear. Let's write English as clearly as we can and call for clarification when we need it.

What you mean his English is not easily intelligible? He teaches English in a school.

Yes, unfortunately for his students, he does. :-(

Bigt, where were you? I hope you weren't banned for a few weeks because you only criticise other peoples' posts.

Isn't that pretty much boring after such a long time? Not for you, big buthole..

Why don't you start and grow some testicles and create your own threads?

I've never ever seen a thread coming from your keyboard, only some weird <deleted> criticism. Thanks for reminding me who my enemies are.

[Suradit69]

Uh, yes lostinisaan is German but his English is not easily intelligible some times. NeverSure-you are German too, right. Hence the over-the-top defensiveness.

I see no fault in calling out English that isn't clear. Let's write English as clearly as we can and call for clarification when we need it.

I'm American FWIW. I don't like the style of posting that doesn't simply ask for clarification instead of bashing. I don't understand why so many seem to delight in criticizing others for their English and in an insulting way.

I don't know any German other than the names of a couple of their very good beers, LOL.

Cheers.

NeverSure, From my experience people that do this are trying to put others DOWN.....Why? Because they think that they are putting themselves UP.

For the OP I take my hat off to you for being able to speak 3 languages. Dont worry about the JERKS on here that seem to think they are better than others.

You mean like the O/P trying to put DOWN the shopkeeper to put himself UP?

[lostinisaan]

We finally got it 600 baht cheaper, which is 3 % of the wanted amount.

Dollar pricing on exchanges is based on 24 carat gold or 99.5% fineness per troy ounce (about 32 grams). The gold you bought is almost certainly 23 carat or 96.5% fineness. Shops in Thailand normally use the price set by the Thai Gold Traders Association in Bangkok. The dealer I normally buy from will always check the price on his mobile phone at the time of sale ... which may defer from the price posted in the shop window in the morning ... and show it to me for confirmation. They also add on a commission.

If you got a 3% discount to the "wanted price," the "wanted price" was probably at least 3% more than the set price. Under-estimating the intelligence of the gold seller and over-estimating how clever you are is probably good for your ego and for his profits.

Thai baht. = 15.26 grams.

Thai baht is the name for the currency just as pounds sterling is the name for British currency. Baht, pounds, tael, salung, etc are weight measures.

One baht weight of 23 carat gold is 14.71 grams of "pure" gold.

Thai Gold is measured in "Baht" and is not to be confused with the same word for Thailand's Currency.

Baht is a unit of weight measurement for Gold in Thailand where 1 Baht is equal to 15.244 grams in raw bullion form or 15.16 grams when it sold as jewellery. Thai Gold is also measured in "Salung" which is a smaller unit when compared with Baht, where 1 salung is a quarter baht (0.25 baht) or 3.81 grams.

A purity of 96.5 percent means in 1 Baht of Gold 96.5 percent of it is pure gold while the rest is made of metals such as silver.

Hence, in 1 Baht Gold there is normally 14.71 grams of pure gold which is a little less than half a troy ounce

Thanks, a lot. I never ever underestimate the usually from China coming gold shop owners.

Edited to add:( after reading your last post) It was never my intention to put myself UP.

[JaseTheBass]

Funny thing Thai ladies and gold.

My missus was offered 3 baht of gold to buy from a friend with a gambling problem, say no more.

Anyway I said I would buy it for £900.00 the gold is a thick bracelet. Anyway the Thai selling it said she could sell it for more in Thailand and didn't want to know.

Most thais will not sell gold for less than they paid for it, there seems to be no understanding of second hand market value.

I guess il never work them out.

Selling gold isn't like selling a second hand car. It's the same as currency and has 2 prices set by banks and traders - buying & selling. So your Thai friend is probably correct about it being worth more in Thailand.

[lostinisaan]

Funny thing Thai ladies and gold.

My missus was offered 3 baht of gold to buy from a friend with a gambling problem, say no more.

Anyway I said I would buy it for £900.00 the gold is a thick bracelet. Anyway the Thai selling it said she could sell it for more in Thailand and didn't want to know.

Most thais will not sell gold for less than they paid for it, there seems to be no understanding of second hand market value.

I guess il never work them out.

Selling gold isn't like selling a second hand car. It's the same as currency and has 2 prices set by banks and traders - buying & selling. So your Thai friend is probably correct about it being worth more in Thailand.

Please be aware that it's an old trick to sell you some gold coated stuff, worth almost nothing. The big surprise comes at the gold shop when they check it.

[sinbin]

Anyway I said I would buy it for £900.00 the gold is a thick bracelet. Anyway the Thai selling it said she could sell it for more in Thailand and didn't want to know.

Most thais will not sell gold for less than they paid for it, there seems to be no understanding of second hand market value.

Gold prices are fixed in Thailand. If you sell gold back to a shop it's bought back at the price set by the government. There is no 'second hand market value'

10 January 2016 Buy: ฿18850 Sell: ฿18950

[lostinisaan]

Anyway I said I would buy it for £900.00 the gold is a thick bracelet. Anyway the Thai selling it said she could sell it for more in Thailand and didn't want to know.

Most thais will not sell gold for less than they paid for it, there seems to be no understanding of second hand market value.

Gold prices are fixed in Thailand. If you sell gold back to a shop it's bought back at the price set by the government. There is no 'second hand market value'

10 January 2016 Buy: ฿18850 Sell: ฿18950

But you'll have to pay a few baht for labor. The necklace was 20,600 baht. One Baht of gold. The shop next door was already asking for 1,000 baht more per Thai Baht.

[Lampang2]

Funny thing Thai ladies and gold.

My missus was offered 3 baht of gold to buy from a friend with a gambling problem, say no more.

Anyway I said I would buy it for £900.00 the gold is a thick bracelet. Anyway the Thai selling it said she could sell it for more in Thailand and didn't want to know.

Most thais will not sell gold for less than they paid for it, there seems to be no understanding of second hand market value.

I guess il never work them out.

I think it's a brilliant formula to never sell at a loss.

If the market doesn't come to you you just wait and wait and wait.

Thai will pay with time.

They always do, waiting for the price to become right.

For a Thai, time is not money.

[Lampang2]

Anyway I said I would buy it for £900.00 the gold is a thick bracelet. Anyway the Thai selling it said she could sell it for more in Thailand and didn't want to know.

Most thais will not sell gold for less than they paid for it, there seems to be no understanding of second hand market value.

Gold prices are fixed in Thailand. If you sell gold back to a shop it's bought back at the price set by the government. There is no 'second hand market value' 10 January 2016 Buy: ฿18850 Sell: ฿18950

Quite a small spread.

[lostinisaan]

It took more than 2 readings to understand your story. And i assume english is your first language. So when you say you spoke in thai to the shop attendant, i wonder how much of it they understood?

He is German and his English is very good. How good is your German?

Yes he speaks Thai too. How good is your Thai?

Sometimes I get sick of the axxholes on TVF who think they are professional critics and want to insult rather than discuss the topic. If you don't understand something the polite thing to do would be to ask for a clarification.

Cheers.

Thanks a lot for your really nice and true words. It's really annoying to have certain people on this forum who're constantly following other posters' words just to find anything to criticise.

Unfortunately, do these people never write their own threads because they're too busy to find someone they can badmouth, which isn't a sign of mental strength at all. It's exactly the opposite.

There're times where you delete some sentences that might not be necessary and it can happen that a post becomes difficult to understand when a few points were taken out. Or you're writing an e-mail at the same time, or you post from a phone.

Of course, would I be more careful if I'd write a thesis or anything;else that has to be perfect. But this is the Isaan forum and I wasn't thinking about any mistakes at all. I don't double check all my written stuff unless it's for school purposes.

Let those without mistakes throw the first stones. Life's really too short to waste time with such people who never write down their thoughts or anything that could be of interest for others, which might be THE reason to post on such a forum.

And where I really got a kick out of was the one poster who just "assumed" that you have to be German to defend me? And that in a country where foreigners seem to be the biggest enemies of other foreigners? I'm so sick and tired of that buffalo dung, to be honest.

Thanks, Never Sure, I wouldn't be a member of this forum without guys like you. Sad is that quite a few posters have to send private messages to avoid those peoples' negative input.

Have a superb week !!! Cheers- . .

[DogNo1]

Lostinisaan: not to bash but "from China coming gold shop owners" is a Germanism. I grew up in Pennsylvania Dutch country and know my Germanisms when I see them. It would be correct to say that you never underestimate gold shop owners who come from China. I agree that bashing people for their language usage is in poor form but it is advisable for people whose English usage in not always correct to be willing to accept their mistakes. Why not? Incidentally, my foreign language of study in college was German and I took many more classes than were required because I liked the language and my professors. I also love the German composers. FWIW, your English writing skills are much better than my German writing skills

[starky]

Funny thing Thai ladies and gold.

My missus was offered 3 baht of gold to buy from a friend with a gambling problem, say no more.

Anyway I said I would buy it for £900.00 the gold is a thick bracelet. Anyway the Thai selling it said she could sell it for more in Thailand and didn't want to know.

Most thais will not sell gold for less than they paid for it, there seems to be no understanding of second hand market value.

I guess il never work them out.

Probably because in Thailand there isn't depreciation in second hand gold it is sold strictly by weight on the daily price. So unless the Gold price was significantly less than when you bought it you will get back basically what you bought it for. In fact if you bought cheap you could even make a profit. Thai gold is 99.6 % not like that brass 9,14 and 18k shit that is commonly used elsewhere so it has a very good resale value. So if the Gold price was anywhere north of say $900 Us and ounce. Then you were going to rob her at 900 quid for an ounce and a half of 24k she was correct and would have got a much better price in Thailand

[starky]

Ooops. Early mornings got my conversion rates arse about. My apologies.