Ausiris Gold

[Berty100]

http://www.ausiris.co.th/?lan=en

Anyone done business with them before?

I just called them up because I consider buying a certain amount of gold bullion.

They informed me that if it were a few Baht it could be delivered out of stock, but when lets say a few million Baht worth of gold, I would have to deposit the money first and can receive the gold about 1 week later.

Who in their right mind would hand over a few million Thai Baht to a company in return for nothing more than a piece of paper?

You advice, regarding this company, will be much appreciated

[Bunnychow]

People hand money over to companies all the time for nothing more than a piece of paper, that the basis of the stock/shares markets

But looking at this website, i wouldnt be putting anything with them, it seems they are trying to copy the model of the likes of Bullionstar, maybe without carrying the inventory, there appears to be no insurance etc...look at the link of a legitimate company they are trying to copy

https://www.bullionstar.com/

Edited July 6, 2016 by Bunnychow

[Berty100]

People hand money over to companies all the time for nothing more than a piece of paper, that the basis of the stock/shares markets

But looking at this website, i wouldnt be putting anything with them, it seems they are trying to copy the model of the likes of Bullionstar, maybe without carrying the inventory, there appears to be no insurance etc...look at the link of a legitimate company they are trying to copy

https://www.bullionstar.com/

Indeed the legitimately and insurance is the part I'm worrying about.

I see your link, but that company is in Singapore, and I prefer to have the gold in my possession so any reference to a credible company in Thailand that can offer similar is welcome.

[billphillips]

Buying gold ingots in Thailand is very straightforward ... Go into a gold shop, haggle the price, collect the gold and then pay. Buying gold certificates is a pointless and risky business, in my mind certificates completely confound the point of owning gold. Why would anyone consider paying in advance for something that can be purchased on demand? It seems to add several layers of complications to a simple task.

[Bunnychow]

People hand money over to companies all the time for nothing more than a piece of paper, that the basis of the stock/shares markets

But looking at this website, i wouldnt be putting anything with them, it seems they are trying to copy the model of the likes of Bullionstar, maybe without carrying the inventory, there appears to be no insurance etc...look at the link of a legitimate company they are trying to copy

https://www.bullionstar.com/

Indeed the legitimately and insurance is the part I'm worrying about.

I see your link, but that company is in Singapore, and I prefer to have the gold in my possession so any reference to a credible company in Thailand that can offer similar is welcome.

I didnt say Bullionstar operated in Thailand, what i said was this is the model the Thai company appears to be copying, the fact they are making you wait a week after payment suggests they dont carry inventory and once you pay they will go out and buy the gold for you...i wouldnt work this way...

You know you can walk into most Thai gold shops and buy bullion over the counter dont you ?...so one could question why you need to do thid on line anyway

[Berty100]

No I don't know that gold bullion can be bought over the counter in Thailand. I have seen a select few shops that have a very limited stock of gold bullion, and there is again the question that they probably will ask me to pay upfront if they need to order.

[billphillips]

Most gold shops (if they are worth anything) keep a large stock of gold. Without checking the spot price today, 3 million baht cash in gold equates to about 2 kilos in weight, one kilo is about the size of a small smartphone. You may want to check the finances of gold investing right now as the price has risen quite sharply recently. Investing a few months ago would have shown a hefty return at today's prices. Some investors turn to gold when there is currency uncertainty and that is probably why the price is on the "up" right now.

[Goldieinkathu]

"Go into a gold shop, haggle the price" ??

[Berty100]

Most gold shops (if they are worth anything) keep a large stock of gold. Without checking the spot price today, 3 million baht cash in gold equates to about 2 kilos in weight, one kilo is about the size of a small smartphone. You may want to check the finances of gold investing right now as the price has risen quite sharply recently. Investing a few months ago would have shown a hefty return at today's prices. Some investors turn to gold when there is currency uncertainty and that is probably why the price is on the "up" right now.

I don't look to buy 1 kilogram pieces, but rather bullion of 5 Baht maximum. If for 3 million that would mean the shop should need to have a stock of ~30 pices of 5 Baht bullion. Would any shop in the mainstreet have that amount in stock.

I am aware of the gold price today and in the past, but unfortunately my crystal ball has a crack, so I have no idea what it gonna do tomorrow or thereafter.

[billphillips]

"Go into a gold shop, haggle the price" ??

Yes, you have to pay the spot price but the rest is negotiable. Or did you imagine that you could pay only the displayed price? Every dealer charges more than "spot", that's how they make money to pay the bills.

[billphillips]

Most gold shops (if they are worth anything) keep a large stock of gold. Without checking the spot price today, 3 million baht cash in gold equates to about 2 kilos in weight, one kilo is about the size of a small smartphone. You may want to check the finances of gold investing right now as the price has risen quite sharply recently. Investing a few months ago would have shown a hefty return at today's prices. Some investors turn to gold when there is currency uncertainty and that is probably why the price is on the "up" right now.

I don't look to buy 1 kilogram pieces, but rather bullion of 5 Baht maximum. If for 3 million that would mean the shop should need to have a stock of ~30 pices of 5 Baht bullion. Would any shop in the mainstreet have that amount in stock.

I am aware of the gold price today and in the past, but unfortunately my crystal ball has a crack, so I have no idea what it gonna do tomorrow or thereafter.

Perhaps gold won't work for you, take care.

[Asiantravel]

Yes I bought gold bars from them in 2009 which I still have and I had no problems.

[hohososo]

"Go into a gold shop, haggle the price" ??

Yes, you have to pay the spot price but the rest is negotiable. Or did you imagine that you could pay only the displayed price? Every dealer charges more than "spot", that's how they make money to pay the bills.

What is the typical premium over spot charged?

Does a SET listed gold bullion ETF exist similar to GLD in New York?

[Berty100]

Most gold shops (if they are worth anything) keep a large stock of gold. Without checking the spot price today, 3 million baht cash in gold equates to about 2 kilos in weight, one kilo is about the size of a small smartphone. You may want to check the finances of gold investing right now as the price has risen quite sharply recently. Investing a few months ago would have shown a hefty return at today's prices. Some investors turn to gold when there is currency uncertainty and that is probably why the price is on the "up" right now.

I don't look to buy 1 kilogram pieces, but rather bullion of 5 Baht maximum. If for 3 million that would mean the shop should need to have a stock of ~30 pices of 5 Baht bullion. Would any shop in the mainstreet have that amount in stock.

I am aware of the gold price today and in the past, but unfortunately my crystal ball has a crack, so I have no idea what it gonna do tomorrow or thereafter.

Perhaps gold won't work for you, take care.

You mean, you are so gifted that you can tell us the price of gold for next week?

[Berty100]

"Go into a gold shop, haggle the price" ??

Yes, you have to pay the spot price but the rest is negotiable. Or did you imagine that you could pay only the displayed price? Every dealer charges more than "spot", that's how they make money to pay the bills.

What is the typical premium over spot charged?

Does a SET listed gold bullion ETF exist similar to GLD in New York?

I did visit several gold shops in Pattaya this afternoon. Not all of them sell gold bullion.

Thos that sell have the 96.5%, and sell at spot price + premium. Available are 1 - 5 - 10 Baht and maybe larger weights.

The premiums I was quoted for 5 Baht bullion ranged from 50 Baht to 300 Baht/per Baht gold.

All but one would have to order if a few hundred Baht of gold, needed 50% deposit and gold delivery was only on Monday and Thursdays.

The one and only shop that could deliver a few hundred Baht of gold out of stock charged a 100 Baht/Baht premium.

They said they don't charge a premium when buy back the gold, while the other shops said the premium for buy was same as for sell.

[Naam]

No I don't know that gold bullion can be bought over the counter in Thailand. I have seen a select few shops that have a very limited stock of gold bullion, and there is again the question that they probably will ask me to pay upfront if they need to order.

it seems you have been in the wrong shops.

[NickJ]

The Gold shop on Sukhumvit in Bk located on the corner where Chuwit Park is always has gold. They will even conduct trade at the Bangkok Bank a min walk or so away. so if your selling you can deposit right away and not walk around with a big block notes.

[Berty100]

No I don't know that gold bullion can be bought over the counter in Thailand. I have seen a select few shops that have a very limited stock of gold bullion, and there is again the question that they probably will ask me to pay upfront if they need to order.

it seems you have been in the wrong shops.

I guess so, feel free to point me to the right shops.

[Langsuan Man]

I have used them in the past albeit for small purchases and found them to be quite professional and business like

They have branches throughout Thailand and after showing them a photo copy of my passport they issued me a paper ID card and whenever I want to purchase more gold all I have to do is produce the ID card

I don't think asking you to pay up front for gold that has to be special ordered is particularly different than any other business that requires full payment for special orders here in Thailand

[Berty100]

I have used them in the past albeit for small purchases and found them to be quite professional and business like

They have branches throughout Thailand and after showing them a photo copy of my passport they issued me a paper ID card and whenever I want to purchase more gold all I have to do is produce the ID card

I don't think asking you to pay up front for gold that has to be special ordered is particularly different than any other business that requires full payment for special orders here in Thailand

You confuse Ausiris with Aurora, since Ausiris has only 3 branches in Thailand, all 3 on the East coast.

[billphillips]

Most gold shops (if they are worth anything) keep a large stock of gold. Without checking the spot price today, 3 million baht cash in gold equates to about 2 kilos in weight, one kilo is about the size of a small smartphone. You may want to check the finances of gold investing right now as the price has risen quite sharply recently. Investing a few months ago would have shown a hefty return at today's prices. Some investors turn to gold when there is currency uncertainty and that is probably why the price is on the "up" right now.

I don't look to buy 1 kilogram pieces, but rather bullion of 5 Baht maximum. If for 3 million that would mean the shop should need to have a stock of ~30 pices of 5 Baht bullion. Would any shop in the mainstreet have that amount in stock.

I am aware of the gold price today and in the past, but unfortunately my crystal ball has a crack, so I have no idea what it gonna do tomorrow or thereafter.

Perhaps gold won't work for you, take care.

You mean, you are so gifted that you can tell us the price of gold for next week?

I predict stable prices, edging to the up. However the current currency destabilisation caused by the disassembly process of the EU was predictable as shown by the move to gold and away from currency. Most opinions show that in times of uncertainty, investors turn to gold as a safe haven. Gold is not a regular investment and offers no annual return. It's as simple as buying low and selling high. Long term study is the only way to assist gold investors, try it for a few years with an imaginary investment before you take the plunge.

I'm doing very nicely, thank you. It didn't come easily.

[Berty100]

I don't look to buy 1 kilogram pieces, but rather bullion of 5 Baht maximum. If for 3 million that would mean the shop should need to have a stock of ~30 pices of 5 Baht bullion. Would any shop in the mainstreet have that amount in stock.

I am aware of the gold price today and in the past, but unfortunately my crystal ball has a crack, so I have no idea what it gonna do tomorrow or thereafter.

Perhaps gold won't work for you, take care.

You mean, you are so gifted that you can tell us the price of gold for next week?

I predict stable prices, edging to the up. However the current currency destabilisation caused by the disassembly process of the EU was predictable as shown by the move to gold and away from currency. Most opinions show that in times of uncertainty, investors turn to gold as a safe haven. Gold is not a regular investment and offers no annual return. It's as simple as buying low and selling high. Long term study is the only way to assist gold investors, try it for a few years with an imaginary investment before you take the plunge.

I'm doing very nicely, thank you. It didn't come easily.

What you are saying here is the same as, today we gonna have sun with chances of rain.

if it was as simple as buying low and selling high, then why do major renowned investors like Bill Ackman have a return of -26%. or David Einhorn -20%, year over year? Those guys not as smart as you?

But let me take you up on this, and return to the conversation in 6 months.

Where will the gold price be in 3 months from now?

Edited July 7, 2016 by Berty100

[billphillips]

Where will the gold price be in 3 months from now?

I have absolutely no idea.

[Berty100]

Where will the gold price be in 3 months from now?

I have absolutely no idea.

Thanks, it seems then that your previous remarks about your superior knowledge were untrue then, and that you are just lucky in your gambles.

To say it in your own wording, Perhaps gold won't work for you, take care.

[billphillips]

http://www.ausiris.co.th/?lan=en

Anyone done business with them before?

I just called them up because I consider buying a certain amount of gold bullion.

They informed me that if it were a few Baht it could be delivered out of stock, but when lets say a few million Baht worth of gold, I would have to deposit the money first and can receive the gold about 1 week later.

Who in their right mind would hand over a few million Thai Baht to a company in return for nothing more than a piece of paper?

You advice, regarding this company, will be much appreciated

Well at least from this thread you have gained some basic knowledge... ie ... You don't have to send money to an unknown company. You can walk into a gold shop and buy at will.

It's all basic stuff that many people knew already and things that someone considering spending a few million baht on a gold investment should have known well in advance. The good news is that now you do know and it may have saved you some cash, risk or stress.

Professional investors work all of the time and cannot sit and do nothing. As a part time investor, particularly in gold, that's exactly what you have to do. When the gold price seems attractive to buy .... then buy, if not ... do nothing. Likewise for selling. That will leave you with long spells of no investment and no action. However the returns for correct timing can be very high, likewise the losses. The impending break up of the EU caused currency and stocks to wildly fluctuate. The switch to gold was predictable ... The extent was not. Good luck with your gold trading but good advise is to make an imaginary investment and follow its progress (as I posted earlier). That will give a good indication to your real investment. Gold trading does not suit everyone, it's unlike stocks or most other long term investing, as I said buy low ... sell high (regardless of time).

None of my posts were a personal attack on you. Please have the curtesy to reciprocate.

[gandalf12]

What is the purpose of buying this much gold? Is it for selling on or making into jewellery? Is it for Thailand or another country? I know in the UK you have to be a registered gold dealer to hold bullion hence the reason a lot of people buy the Krugerrand

[blackcab]

What is the purpose of buying this much gold? Is it for selling on or making into jewellery? Is it for Thailand or another country? I know in the UK you have to be a registered gold dealer to hold bullion hence the reason a lot of people buy the Krugerrand

You absolutely do not have to be a registered gold dealer in the UK to hold bullion.

You can walk into a gold dealers with cash and ID and walk out with bullion. No problem at all. (The ID is for anti money laundering records).

[billphillips]

What is the purpose of buying this much gold? Is it for selling on or making into jewellery? Is it for Thailand or another country? I know in the UK you have to be a registered gold dealer to hold bullion hence the reason a lot of people buy the Krugerrand

In the uk their is a taxation loophole regarding gold coins. However their price is inflated beyond the true value because of this. Gold trading in the uk is not a practical investment for small time traders.

One advantage of gold trading / investment in Thailand may be the advantageous "personal taxation" situation, particularly if buying directly from the high street shops. I'm sure that at least some of you understand exactly what I'm saying.

[midas]

What is the purpose of buying this much gold? Is it for selling on or making into jewellery? Is it for Thailand or another country? I know in the UK you have to be a registered gold dealer to hold bullion hence the reason a lot of people buy the Krugerrand

What is the purpose?

Well if you just jtake a quick look around the the state of the world right now do you not think there is even the teeny-weeny possibility that the citizens of other countries will soon start having the same sentiments as many Japanese ?

Angst-Ridden Japanese Investors Seen Seeking Haven in Swiss Gold

“Many of our Japanese customers think it’s too risky to hold gold bars at home and they want to keep them in Switzerland because they are anxious about the future of Japan,” Whitehouse said in an interview. The country’s growth has stagnated for a decade, defying fiscal and monetary stimulus which has driven up public debt to more than double the value of annual economic output.

http://www.bloomberg.com/news/articles/2016-07-07/angst-ridden-japanese-investors-seen-seeking-haven-in-swiss-gold

[tigerbeer]

i bought some gold from ausiris via Line app communicating with them. bank transfer and ems straight to my place. easy!! i might be wrong but i think their prices are pretty good with little premium over market prices. anyone else buys from them?