Which gold is safe to buy - free from fraud, etc ...?

[jeab1980]

1 hour ago, sometimewoodworker said:

You obviously have never bought gold or thought about the fact that jewellery has to be made and the workers have to be paid.

 

You pay the gold weight and a fee of about 1000 baht per Baht weight for making jewellery they buy back at a differential of about 400 baht from the gold weight price. This is about 8.5% between buying and selling 

 

for gold bars the difference between buying and selling is about 0.005% or 100 baht per baht weight as there is no need to remake the bar.

 

it is still perfect possible to make money on jewellery if you hold it for long enough.

I buy jewellery as needed. For jewlrway nothing else not to be sold back. As i explained in an earlier post which must have slipped passed you i buy gold ingots but not in thailand. So really there is no need to be condecending is there.

[Jack Mountain]

1 hour ago, Nokawou said:

 Just buy a gold test kid about $15.00 I see the guy's that buy old jewelry use them all the time. You can also try "Hard Metal Alliance" they will store your   physical gold in one of their warehouses around the world and you can take delivery anytime you want.

• 
  I was looking for this. Do you have a link?

 

[bazza73]

4 hours ago, jeab1980 said:

But surley gold is gold its bought on weight so 1bht of jewellery should be exactly the same price given as 1bht ingot. Or are you saying there are diffrent buy back prices for ingots?

Look at the prices at gold shops. There's three of them. The highest is the selling price per baht (weight) in ingot form. The next one is the buyback price per baht in ingot form. The lowest price is the buyback price in baht for jewellery.

Obviously, there's no selling price for jewellery in terms of baht weight - it just depends on the price the jeweller sets for a particular piece.

[jeab1980]

36 minutes ago, bazza73 said:

Look at the prices at gold shops. There's three of them. The highest is the selling price per baht (weight) in ingot form. The next one is the buyback price per baht in ingot form. The lowest price is the buyback price in baht for jewellery.

Obviously, there's no selling price for jewellery in terms of baht weight - it just depends on the price the jeweller sets for a particular piece.

Thanks but surley the jewlrey is weighed to get a price if you buy 1bht neckless its still 1bht necklace 3/5/7 years later.

[simon43]

 the bars are expensive but if I keep for 10 years I will make 5X the amount.

 

So how does that work then??

[TonyClifton]

12 hours ago, Langsuan Man said:

 

I would think that the biggest drawback in buying gold bars here in Thailand,  for eventual export , is their provincial weighing system

 

Can't imagine a gold dealer in New York, for instance,  would be thrilled to have to deal with a Baht of gold and gold jewelry (chains) have the inherent problem of requiring an assay

 

 

 

I can buy YLT in grams.  The 100g bar looked very pretty but it might be easier to sell quantity 10 of the 10g bars instead.  

 

YLT looks to be big and reputable.

[tazly]

11 hours ago, ThailandLOS said:

..and no guarantee for delivery or liquidity when the equity market goes belly up (which is one of the primary motivations for investing in gold).

 

Paper is always paper

Total nonsense...many of the gold ETFs are backed by a physical supply of gold stock...much less risky than buying on the street...

[ThailandLOS]

8 hours ago, jeab1980 said:

But surley gold is gold its bought on weight so 1bht of jewellery should be exactly the same price given as 1bht ingot. Or are you saying there are diffrent buy back prices for ingots?

 

The spread (difference between sell & buy price) is wider. Sell price includes the value of the handcraft they put in

 

Here's a link to the Thai Gold Traders Association which provides updates on intra-day basis. The first price row is bars, the second ornaments:

 

http://www.goldtraders.or.th/

 

[ThailandLOS]

6 minutes ago, tazly said:

Total nonsense...many of the gold ETFs are backed by a physical supply of gold stock...much less risky than buying on the street...

Oh yeah? Good luck getting your delivery on those futures when market melts down. Btw - there is nowhere enough supply to cover demand if everyone decides to let their contracts expire for delivery even as we speak. This is a highly manipulated market.

[tazly]

1 hour ago, ThailandLOS said:

Oh yeah? Good luck getting your delivery on those futures when market melts down. Btw - there is nowhere enough supply to cover demand if everyone decides to let their contracts expire for delivery even as we speak. This is a highly manipulated market.

You obviously don't understand how ETF's work...these are not futures contracts.....it's stocks backed up by physical supply...in a market "meltdown" as you call it, gold usually goes up, so your logic does not hold.  In terms of risk, much less than physically holding gold as there is zero risk of theft, fire, etc. Of course, if you are a doomer/prepper and believe we are headed back to the stone age, then all bets are off on everything, not just gold.

Edited May 11, 2017 by tazly
sp

[Jack Mountain]

12 hours ago, jeab1980 said:

Thanks but surley the jewlrey is weighed to get a price if you buy 1bht neckless its still 1bht necklace 3/5/7 years later.

No, they weigh it when you sell it to them and it's often less because wearing out and you get what the scale says. Rings for example ...

[Jack Mountain]

Another trader http://www.ausiris.co.th/index.php?lan=en

 

[uli65]

Do not listen to the ETFs  trolls. it is just worthless paper investment for gamblers.

the real goldinvestor knows: If you dont HOLD IT you dont OWN IT.

[ThailandLOS]

9 hours ago, tazly said:

You obviously don't understand how ETF's work...these are not futures contracts.....it's stocks backed up by physical supply...in a market "meltdown" as you call it, gold usually goes up, so your logic does not hold.  In terms of risk, much less than physically holding gold as there is zero risk of theft, fire, etc. Of course, if you are a doomer/prepper and believe we are headed back to the stone age, then all bets are off on everything, not just gold.

I am referring to ETF derivatives, but same manipulation/fraud exists in the base instrument. However - good that you can explain how things really are to everyone. Good luck with your paper.

[taiping]

11 hours ago, tazly said:

Total nonsense...many of the gold ETFs are backed by a physical supply of gold stock...much less risky than buying on the street...

It is you who is talking total nonsense. Just read the fine print of the gold ETFs - trading can be suspended for any number of reasons. That is why so many advise holding physical gold yourself. I do have gold ETFs myself, for convenience, but I am well aware of their limitations and I don't like paying the management fees (which comes out of the share price). Central Fund of Canada (CEF) which holds physical gold and silver is a good alternative, and currently selling at 7% below the Net Asset Value (NAV). Buy gold and silver at a 7% discount!

Edited May 12, 2017 by taiping

[CharlieH]

2 posts temoved. Keep it civil please.

 

7) You will respect fellow members and post in a civil manner. No personal attacks, hateful or insulting towards other members, (flaming) Stalking of members on either the forum or via PM will not be allowed.

 

 

 

 

[sometimewoodworker]

On 11/05/2017 at 5:13 PM, jeab1980 said:

I buy jewellery as needed. For jewlrway nothing else not to be sold back. As i explained in an earlier post which must have slipped passed you i buy gold ingots but not in thailand. So really there is no need to be condecending is there.

You posted 

 

"But surley gold is gold its bought on weight so 1bht of jewellery should be exactly the same price given as 1bht ingot. Or are you saying there are diffrent buy back prices for ingots?"

 

I pointed out that you showed that you did not understand the buying and selling of gold in Thailand.

[jeab1980]

1 minute ago, sometimewoodworker said:

You posted 

 

"But surley gold is gold its bought on weight so 1bht of jewellery should be exactly the same price given as 1bht ingot. Or are you saying there are diffrent buy back prices for ingots?"

 

I pointed out that you showed that you did not understand the buying and selling of gold in Thailand.

Whatever good night

[sometimewoodworker]

On 11/05/2017 at 7:31 PM, bazza73 said:

Look at the prices at gold shops. There's three of them. The highest is the selling price per baht (weight) in ingot form. The next one is the buyback price per baht in ingot form. The lowest price is the buyback price in baht for jewellery.

Obviously, there's no selling price for jewellery in terms of baht weight - it just depends on the price the jeweller sets for a particular piece.

Sorry that's not correct.

The highest is the selling price per baht (weight) in any form bar or jewellery.

 

You pay the gold weight and a fee of about 1000 baht per Baht weight for making jewellery. That part of the price is open to a certain amount of negotiation.

Edited May 12, 2017 by sometimewoodworker

[tazly]

11 hours ago, ThailandLOS said:

I am referring to ETF derivatives, but same manipulation/fraud exists in the base instrument. However - good that you can explain how things really are to everyone. Good luck with your paper.

ETF derivatives?????Do explain, but read the following first,....

 

Are ETFs considered derivatives? | Investopedia

www.investopedia.com/ask/answers/102815/are-etfs-considered-derivatives.asp

Oct 28, 2015 - A: Most exchange-traded funds (ETFs) are not considered to be derivatives. In the aftermath of the 2008 financial crisis, many pundits pointed ...

 

 

Also explain how the average investor can invest in derivatives...this is usually only done by institutions.  Finally you do know that cash is considered paper and is only given value by the "guarantee" of the country issuing it......the gold etf is no more risky.....just look at the value of the British pound versus the baht over the last few years!

[tazly]

11 hours ago, taiping said:

It is you who is talking total nonsense. Just read the fine print of the gold ETFs - trading can be suspended for any number of reasons. That is why so many advise holding physical gold yourself. I do have gold ETFs myself, for convenience, but I am well aware of their limitations and I don't like paying the management fees (which comes out of the share price). Central Fund of Canada (CEF) which holds physical gold and silver is a good alternative, and currently selling at 7% below the Net Asset Value (NAV). Buy gold and silver at a 7% discount!

Wrong!

 

Trading can not be suspended for any reason...total exaggeration!   Also any investor worth his salt will always read the fine print.....at least there is some.  With physical gold there is not,  and you can lose it  through theft, fire, robbery, and a million other ways. 

As for investing in a Canadian government fund, sorry way too risky.  The country is on the verge of economic collapse and they have a drama teacher with no experience calling the shots.....you go ahead though....just don't come crying to Daddy when it all goes south!

[tazly]

12 hours ago, uli65 said:

Do not listen to the ETFs  trolls. it is just worthless paper investment for gamblers.

the real goldinvestor knows: If you dont HOLD IT you dont OWN IT.

Do you keep cash at the bank.....do you actually think they have a special vault with all of your personal savings in it, or do you keep the stuff under the mattress.

[ableguy]

How come Thai gold goes rusty.

[CanuckThai]

Does anyone know of any gold dealers in Thailand, that accept Bitcoin?

[Oxx]

1 hour ago, CanuckThai said:

Does anyone know of any gold dealers in Thailand, that accept Bitcoin?

 

Gold dealers in Thailand didn't get rich by being dumb.

[crazygreg44]

On 12.5.2017 at 3:36 PM, tazly said:

Wrong!

 

Trading can not be suspended for any reason...total exaggeration!   Also any investor worth his salt will always read the fine print.....at least there is some.  With physical gold there is not,  and you can lose it  through theft, fire, robbery, and a million other ways. 

As for investing in a Canadian government fund, sorry way too risky.  The country is on the verge of economic collapse and they have a drama teacher with no experience calling the shots.....you go ahead though....just don't come crying to Daddy when it all goes south!

the Nazis in Germany stopped the trading of gold.  Nobody was allowed to trade any gold, and every person was forced to deliver all their physical gold to a bank and get it reimbursed, or loose the right to trade it.

 

Well, that was the Nazis in their time. . . 

 

However you see, what I like to say, any government can terminate the trading of gold any time they wish to do so

Edited February 10, 2018 by crazygreg44

[CanuckThai]

1 hour ago, Oxx said:

 

Gold dealers in Thailand didn't get rich by being dumb.

Thanks for the helpful reply.  

Sage: a profoundly wise man, especially one who features in ancient history.

 

[sometimewoodworker]

10 hours ago, CanuckThai said:

Thanks for the helpful reply.  

Sage: a profoundly wise man, especially one who features in ancient history.

 

They might accept bitcoin at $500 per bitcoin.