How to Buy Investment Gold Bullion in Thailand

[thongplay]

Has anyone purchased gold bullion for investment purposes in Thailand?

 

Can you buy it from the major banks?

 

I am talking about small 1 oz gold bars, gold coins such as Kruggerands.

 

I am not interested in gold jewelry which carries a 'manufacturing' premium.

 

Are there any relevant Thai laws relating to this?

 

Thank you.

[Witblitz]

You can 1oz bars buy  from gold shops,

Krugerrands might be hard to find in Thailand

 

Although not in Thailand have a look at bullionstar in Singapore, you can buy what you want from them and they will even store it for you 

 

Edited August 17, 2016 by Witblitz

[Berty100]

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

[taiping]

Gold bullion (bars) can be bought in Thailand from some gold shops (mostly in Bangkok's Chinatown) or from gold dealers like Ausiris or YLG. However, it's important to note that standard Thai gold is 96.5% purity so not recommended to take outside Thailand. In addition, they sell gold in a unit of weight called "Baht weight" (15.244 grams). You can buy 10 Baht weight Thai gold bars which currently cost around 220,000 baht each. The gold shop name is stamped on the gold bars so it's best to sell the gold back to the same gold shop you bought it from, since other gold shops would offer a lower price.

The gold dealers also sell gold bars of 99.99% purity. Ausiris sell 100 gram and 1 kilo bars made by PAMP in Switzerland. They also used to sell (not sure now) 10 baht weight 99.99% PAMP gold bars.

See http://www.ausiris.co.th/content.php?content=15&keyword=Flagship Store.

As far as I'm aware, the banks here do not sell gold bars, but many banks have gold funds, which invest in such ETF's as GLD. 

I have not found gold coins such as Krugerrands in Thailand.

The current price to buy 1 Kilo of 99.99% gold from Ausiris is 1,498,632 baht. At the current exchange mid rate of 34.66 Baht/USD = USD 43,239. One Kilo = 32.1507 Troy Ounces, so the 1 Kilo bar cost USD 1,345. Current price on KITCO is 1,344.60 so the price of gold in Thailand is very similar to the International price.

[Baerboxer]

Go to any of the gold shops in the malls and they all sell small gold bars. I think they sell 0.5 baht weight,; 1 baht weight and some heavier ones.

 

I know the gold shops in Fashion Island and Future Park Rangsit have them. They always display the gold prices too. 

 

Btw - the work premium on jewelry is very low compared to the West. I bought my wife a 1 baht weight gold braclet last year. The extra on top of the gold price was tiny.

[Rimbuman]

7 hours ago, Witblitz said:

You can 1oz bars buy  from gold shops,

Krugerrands might be hard to find in Thailand

 

Although not in Thailand have a look at bullionstar in Singapore, you can buy what you want from them and they will even store it for you 

 

Also KITCO has an office in Hong Kong.

[bark]

Buy silver, is better.

[taiping]

45 minutes ago, Baerboxer said:

Go to any of the gold shops in the malls and they all sell small gold bars. I think they sell 0.5 baht weight,; 1 baht weight and some heavier ones.

 

I know the gold shops in Fashion Island and Future Park Rangsit have them. They always display the gold prices too. 

Not a good idea to buy from a gold shop in a mall, unless they are a branch of one of the major Chinatown gold shops. I go to one branch on the corner of Sukhumvit Road and Soi 10.

[Johnniey]

1 hour ago, taiping said:

Gold bullion (bars) can be bought in Thailand from some gold shops (mostly in Bangkok's Chinatown) or from gold dealers like Ausiris or YLG. However, it's important to note that standard Thai gold is 96.5% purity so not recommended to take outside Thailand. In addition, they sell gold in a unit of weight called "Baht weight" (15.244 grams). You can buy 10 Baht weight Thai gold bars which currently cost around 220,000 baht each. The gold shop name is stamped on the gold bars so it's best to sell the gold back to the same gold shop you bought it from, since other gold shops would offer a lower price.

The gold dealers also sell gold bars of 99.99% purity. Ausiris sell 100 gram and 1 kilo bars made by PAMP in Switzerland. They also used to sell (not sure now) 10 baht weight 99.99% PAMP gold bars.

See http://www.ausiris.co.th/content.php?content=15&keyword=Flagship Store.

As far as I'm aware, the banks here do not sell gold bars, but many banks have gold funds, which invest in such ETF's as GLD. 

I have not found gold coins such as Krugerrands in Thailand.

The current price to buy 1 Kilo of 99.99% gold from Ausiris is 1,498,632 baht. At the current exchange mid rate of 34.66 Baht/USD = USD 43,239. One Kilo = 32.1507 Troy Ounces, so the 1 Kilo bar cost USD 1,345. Current price on KITCO is 1,344.60 so the price of gold in Thailand is very similar to the International price.

A few days ago I bought a 10 baht 'bar' from a recommended gold shop in a shopping mall. My friend, who owns a chain of gold shops, said I could sell it anywhere for the same price as it was stamped.

[Timebandit]

1 hour ago, taiping said:

Gold bullion (bars) can be bought in Thailand from some gold shops (mostly in Bangkok's Chinatown) or from gold dealers like Ausiris or YLG. However, it's important to note that standard Thai gold is 96.5% purity so not recommended to take outside Thailand. In addition, they sell gold in a unit of weight called "Baht weight" (15.244 grams). You can buy 10 Baht weight Thai gold bars which currently cost around 220,000 baht each. The gold shop name is stamped on the gold bars so it's best to sell the gold back to the same gold shop you bought it from, since other gold shops would offer a lower price.

The gold dealers also sell gold bars of 99.99% purity. Ausiris sell 100 gram and 1 kilo bars made by PAMP in Switzerland. They also used to sell (not sure now) 10 baht weight 99.99% PAMP gold bars.

See http://www.ausiris.co.th/content.php?content=15&keyword=Flagship Store.

As far as I'm aware, the banks here do not sell gold bars, but many banks have gold funds, which invest in such ETF's as GLD. 

I have not found gold coins such as Krugerrands in Thailand.

The current price to buy 1 Kilo of 99.99% gold from Ausiris is 1,498,632 baht. At the current exchange mid rate of 34.66 Baht/USD = USD 43,239. One Kilo = 32.1507 Troy Ounces, so the 1 Kilo bar cost USD 1,345. Current price on KITCO is 1,344.60 so the price of gold in Thailand is very similar to the International price.

Do you understand that shitty looking Krugerands, as well as US Eagles, are only 92% purity? They are actually not considered gold in Thailand. A  friend could not sell a double eagle anywhere. You can go to HKG to PBoC, Wingon Branch or to Hang Seng Bank just down the street and buy 9999 Kangaroos, Pandas or Maple Leaf coins. 9999 bars are available in Chinatown but do your homework to find the most reputable dealer. Save all receipts. If you are buying kilobars video the transaction.

Krugerand's red hue is frowned upon in Asia. Best of fortune.

[taiping]

20 minutes ago, Johnniey said:

A few days ago I bought a 10 baht 'bar' from a recommended gold shop in a shopping mall. My friend, who owns a chain of gold shops, said I could sell it anywhere for the same price as it was stamped.

Some years ago (before I got wiser) I bought a gold bar from a small gold shop. I tried to sell it at other gold shops but they only offered a lower price, but told me to go back to the original shop who gave me the full price. But what if the shop had closed? I think you are being misled by your "friend" who is trying to sell you gold.

[elgordo38]

28 minutes ago, bark said:

Buy silver, is better.

Price sucks today

[Johnniey]

21 minutes ago, taiping said:

Some years ago (before I got wiser) I bought a gold bar from a small gold shop. I tried to sell it at other gold shops but they only offered a lower price, but told me to go back to the original shop who gave me the full price. But what if the shop had closed? I think you are being misled by your "friend" who is trying to sell you gold.

No, he wouldn't do that. He owns small shops and didn't have any 10 Baht bars in his shop. He recommended a large shop. When I buy gold from him(have for over 12 years), a need the 'note' and true I'd get less at other shops. However, with the bar, no 'note' is needed.

[taiping]

1 hour ago, Johnniey said:

No, he wouldn't do that. He owns small shops and didn't have any 10 Baht bars in his shop. He recommended a large shop. When I buy gold from him(have for over 12 years), a need the 'note' and true I'd get less at other shops. However, with the bar, no 'note' is needed.

The reason that other gold shops offer a lower price is that the gold shop selling the bar has it's name stamped into the gold. May I suggest you go to another gold shop to see what they offer for your gold bar, and report back here what you find. But in my experience, other gold shops offer a lower price. That's why I suggest only buying at one of the main Chinatown gold shops or their branches, in case the small mall shop closes.

[The manic]

buy it in line via London or Zurich and store in their vaults

[johnnysunshine]

I have been buying and selling gold in the Warorot Market in CM for about 12 years here.

I was very disappointed when I attempted to sell a Krugerand and they would not give me that much for it so I just keep those in the USA where they have more worth.

You can buy here or Singapore or London or Switzerland but just remember the only gold you truly have is that is which is in your possession no matter what the fine reputation is of places outside.

I agree that silver is a better choice in terms of potential gains but it is much heavier and I do not see if offered in many places here.

Find on gold store you like and keep doing business with them is my suggestion and has worked for me for 12 years.

 

 Aristotle defined the characteristics of a good form of money:

1.) It must be durable. Money must stand the test of time and the elements. It must not fade, corrode, or change through time.

2.) It must be portable. Money hold a high amount of 'worth' relative to its weight and size.

3.) It must be divisible. Money should be relatively easy to separate and re-combine without affecting its fundamental characteristics. An extension of this idea is that the item should be 'fungible'. Dictionary.com describes fungible as:

"(esp. of goods) being of such nature or kind as to be freely exchangeable or replaceable, in whole or in part, for another of like nature or kind."

4.) It must have intrinsic value. This value of money should be independent of any other object and contained in the money itself.

[Johnniey]

2 hours ago, taiping said:

The reason that other gold shops offer a lower price is that the gold shop selling the bar has it's name stamped into the gold. May I suggest you go to another gold shop to see what they offer for your gold bar, and report back here what you find. But in my experience, other gold shops offer a lower price. That's why I suggest only buying at one of the main Chinatown gold shops or their branches, in case the small mall shop closes.

I plan to sell it next year so will let you know.

 

Maybe, I'll take it just out of interest before then.

 

[taiping]

9 hours ago, Johnniey said:

I plan to sell it next year so will let you know.

 

Maybe, I'll take it just out of interest before then.

 

I would be interested to know what you find. 

[Wazza1]

12 hours ago, taiping said:

The reason that other gold shops offer a lower price is that the gold shop selling the bar has it's name stamped into the gold. May I suggest you go to another gold shop to see what they offer for your gold bar, and report back here what you find. But in my experience, other gold shops offer a lower price. That's why I suggest only buying at one of the main Chinatown gold shops or their branches, in case the small mall shop closes.

 

Gold shops have 2 prices for Gold, a Buying price and a Selling price, the Buying price is always under the World Spot Gold Price and the Selling price is always over the World spot Gold Price. That is how they make their money. You will also pay a premium on the form of the Gold, a 1 ounce coin or minted bar will cost more than a 1 ounce cast bar because your paying for production costs as well. The advantages of a coin or minted bar from a reputable mint such as Perth Mint is there is no need for assay of the gold content however with cast bars you may need to pay for the assay. 

While Thailand Gold is 96.5% or 22 karat in not sure what they generally pay for 99.99% 24 karat gold, last time I was there I asked but they wanted to see my gold first and I had left my minted bar in my hotel safe, next time I will see if they are willing to offer a fair price.

also never buy gold today to sell next year, buy gold when gold prices are low (now they are high) or when your currency is high against u.s dollar and sell when your currency drops or the price of gold rises.

Edited August 18, 2016 by Wazza1

[Wazza1]

Oh, and I would be wary of buying Gold from a Thai shop, just because it's stamped .965 doesn't mean it's not .750 and that's probably why other gold shops offer lower prices, they need to pay for an assay of another shops gold.

[bark]

15 hours ago, elgordo38 said:

Price sucks today

Then it will go up and you will make money.

Buy low, sell high.

[taiping]

The OP stated clearly he is interested in buying GOLD BULLION for investment purposes in THAILAND, and NOT interested in gold jewelry. There is no problem buying gold bars in Thailand, but IMO better to buy from one of the well established Chinatown gold shops or one of their branches. The Thailand Gold Traders Association at http://www.goldtraders.or.th/ wants to keep high standards to maintain the reputation of Thai gold.

Edited August 18, 2016 by taiping

[Dazinoz]

On 17 August 2016 at 5:28 PM, bark said:

Buy silver, is better.

I agree silver is a better option than gold as an investment at this particular time but can be very hard to sell in Thailand.

 

i bought 4 x 100oz bars from a place in Singapore (mail order). Recently I tried to sell one of those bars in Chiang Mai. Visited about 10 silver shops and none were interested. Told me I would have to go Bangkok. 

 

I ended up up making an overnight trip to Singapore with the 4 bars and sold them back to the company I had bought them from. At a profit I might add.

 

i have 100kg of silver in Australia stored with a reputable company. Can sell 1 oz to all of it with one phone call.  It is up $20,000aud since I purchased last year. 

Edited August 19, 2016 by Dazinoz

[Dazinoz]

On 17 August 2016 at 5:28 PM, bark said:

Buy silver, is better.

 

[Wazza1]

10 hours ago, Dazinoz said:

 

 

I wouldn't be buying either right now, you'll lose money.

[Asiantravel]

14 hours ago, Wazza1 said:

 

I wouldn't be buying either right now, you'll lose money.

 

you must work for the Federal reserve

only someone who is anxious to see the Fiat Ponzi keep going could come out with such a dumb statement

 

Edited August 20, 2016 by Asiantravel

[Dazinoz]

On 17 August 2016 at 4:58 PM, Rimbuman said:

 

Edited August 20, 2016 by Dazinoz

[Dazinoz]

2 hours ago, Asiantravel said:

 

you must work for the Federal reserve

only someone who is anxious to see the Fiat Ponzi keep going could come out with such a dumb statement

 

Was thinking the same thing. From everything I read a big economic downturn is on the way. Maybe sooner than people want to believe. Then my 100kg silver will be worth a lot( I hope). 

[Agent Sumo]

On 8/17/2016 at 3:35 PM, taiping said:

The gold shop name is stamped on the gold bars so it's best to sell the gold back to the same gold shop you bought it from, since other gold shops would offer a lower price.

 

 

I've been wondering about this.

 

Isn't this as much a bet that the shop you buy from won't subsequently go out of business? 

 

Seems unwise to introduce additional risk considering the gold price is already subject to significant fluctuation

Edited August 21, 2016 by Agent Sumo

[Wazza1]

On 20 August 2016 at 11:57 AM, Asiantravel said:

 

you must work for the Federal reserve

only someone who is anxious to see the Fiat Ponzi keep going could come out with such a dumb statement

 

 

4998 posts, I suppose the fact I have a life is the reason I know what is happening in the world,  by all means buy your silver, it's not dropped 2% since you made your post but if you get in quick you may get to be a part of further falls.