Buying and selling gold

[EricTh]

Is there any good place in Chiang Mai where I can buy gold and sell it at a good price later when the price goes up?

 

This is for investment and not jewellery purpose.

[how241]

Aurora gold shop.   There everywhere.

[SpeakeasyThai]

What makes you think it (Gold) will go up. Are you expecting WW3? Spend your money on an excellent pair of running shoes if that is the case. You might live an extra 30 seconds.

[thaipo7]

I agree with SpeakeasyThai.  If Trump were allowed to govern vs fighting all these things being fire at him by the Dems and we get moving in the right direction.   Gold will surely drop.

[EricTh]

2 hours ago, how241 said:

Aurora gold shop.   There everywhere.

 

Which is easier to sell at higher price. Banks or Aurora gold shops?

 

I wonder whether Thai banks have gold deposit accounts.

[EricTh]

41 minutes ago, thaipo7 said:

I agree with SpeakeasyThai.  If Trump were allowed to govern vs fighting all these things being fire at him by the Dems and we get moving in the right direction.   Gold will surely drop.

 

That's the problem. The US dollar has been dropping for many months due to many economic and political reasons. 

 

It's better to hold gold instead of US dollars now.

 

 

 

Edited June 15, 2017 by EricTh

[how241]

With Aurora,  your can hold physical gold bars if you want...Many Thai banks have stock brokers where you can trade paper gold at lower commission fees...

[SmartJoe]

Buy Bitcoins there is a dip in the price right now

[4MyEgo]

5 hours ago, EricTh said:

 

That's the problem. The US dollar has been dropping for many months due to many economic and political reasons. 

 

It's better to hold gold instead of US dollars now.

 

 

 

Gold has had its run, I have made my fair share on the market since just before Trump got elected, and I have been sitting on the fence since about a week ago.

 

Try blue chip shares for dividends, you could make between 6% & 8% on your money, as for capital appreciation, it would depend on the stocks you choose.

[4MyEgo]

2 hours ago, SmartJoe said:

Buy Bitcoins there is a dip in the price right now

Bitcoin has gone up like 400% in the last year, maybe the dip might be a BIG one until it is regulated ? 

Edited June 15, 2017 by 4MyEgo

[wwest5829]

9 hours ago, thaipo7 said:

I agree with SpeakeasyThai.  If Trump were allowed to govern vs fighting all these things being fire at him by the Dems and we get moving in the right direction.   Gold will surely drop.

Ha! Very funny. Even his own erstwhile party cannot agree to support the man, who is clearly out of his depth.

[gemguy]

If you plan on staying here in Thailand then buying Thai baht gold is considered by most to be a good move.

The reason being, it is so easily traded everywhere throughout the kingdom and considered a means to obtain some quick cash money if and when you need it.

Regardless if the daily price of your Thai baht gold is going up or down you can easily sell it and get some money.

The problem with Gold certificates is relevant to the Currency system collapsing.

If it did collapse then access to the value of your gold certificates would also be a big concern and the reason why having physical gold is preferred.....

Meantime,  having a considerable amount of physical gold on hand comes with its own concerns such as where to safely keep it so no one can steal it from you.

If you have a safe then of course your physical gold is safer ...but does not stop people from attempting to come and steal your physical gold from your house or business or property.

You can keep the gold in a safe deposit box at a bank and of course that is what many people do ...but, if the currency system fails and the bank is failing also then you may not get immediate access to your gold held in your safety deposit box at the failing bank.

There are private safety box deposit companies that will rent you a security box and safely hold your physical gold and far less chance that they would deny access to the contents of your safety deposit box if the currency system was failing.

Many Thai people buy Thai baht gold jewellery as an adornment  while knowing at any time they can trade back the gold and be given cash money for the value of the gold traded on that day while they can also go shopping around and compare prices from one shop to another and finally decide which shop to sell their gold at.

If the international price of gold has gone up enough then they may actually profit while many do when enough time goes by while naturally you can loose money if the price of gold is dropping....but for many it is not really about profit rather the ability to quickly sell the gold and obtain some cash money.

If the currency system collapsed then the  gold is still universally recognised as a medium of exchange and valued

Cheers

[timendres]

11 hours ago, EricTh said:

 

That's the problem. The US dollar has been dropping for many months due to many economic and political reasons. 

 

It's better to hold gold instead of US dollars now.

Gold is not an investment.

It is either a hedge against fiat currencies, or something that you speculate on (in your words, buy and sell).

I hold a small amount of gold as a hedge against the frightening balance sheets of the world's central banks and their fiat currencies.

If you are looking to speculate, there are far more liquid and more interesting instruments for that purpose.

[EricTh]

25 minutes ago, timendres said:

Gold is not an investment.

It is either a hedge against fiat currencies, or something that you speculate on (in your words, buy and sell).

I hold a small amount of gold as a hedge against the frightening balance sheets of the world's central banks and their fiat currencies.

If you are looking to speculate, there are far more liquid and more interesting instruments for that purpose.

 

Do tell. What are those besides risky stocks? 

 

Currently, my Thai baht is earning a miserable 1% interest on fixed deposit.

 

 

[natway09]

Unlike some comments above I think gold is a good investment, up to 20% of your portfolio.

I buy in 10bht ingots. Last 3 years have made 24%,,18% more than banks & no tax.

Suggest you watch the gold price, go to a Chinese Gold shop knowing what to pay.

They will accept cash only normally. Ensure properly stamped 

Over 5 years I doubt if can go wrong

 

[EricTh]

Just now, natway09 said:

Unlike some comments above I think gold is a good investment, up to 20% of your portfolio.

I buy in 10bht ingots.

 

 

Could you please tell me which company and where I can buy these ingots at the cheapest price in Chiang Mai or Bangkok?

 

Would I be able to sell easily in the near future with these ingots?

[SmartJoe]

what are the taxes on this business for a foreigner permanent thai resident ?

[timendres]

10 hours ago, EricTh said:

Do tell. What are those besides risky stocks? 

 

Currently, my Thai baht is earning a miserable 1% interest on fixed deposit.

In my opinion, investments pay returns. Dividends, interest, or otherwise.

Everything else is speculation, with varying degrees of risks.

Right now, I agree that long stocks looks like above average risk.

[timendres]

9 hours ago, natway09 said:

Unlike some comments above I think gold is a good investment, up to 20% of your portfolio.

I buy in 10bht ingots. Last 3 years have made 24%,,18% more than banks & no tax.

Suggest you watch the gold price, go to a Chinese Gold shop knowing what to pay.

They will accept cash only normally. Ensure properly stamped 

Over 5 years I doubt if can go wrong

 

I suspect that those who bought gold when it was above $1,700 an ounce would disagree with you.

[GOLDBUGGY]

On 6/16/2017 at 6:11 AM, 4MyEgo said:

Gold has had its run, I have made my fair share on the market since just before Trump got elected, and I have been sitting on the fence since about a week ago.

 

Try blue chip shares for dividends, you could make between 6% & 8% on your money, as for capital appreciation, it would depend on the stocks you choose.

I agree, although 8% seems a bit high for me, which usually means more risk involved.

 

But a good safe bank stock will pay you 4% and a stable and reliable food industry stock will pay you 5% to 6%. Presently I hold shares in a famous Pizza Joint which is safe, reliable, and pays 6% with payments every month. 

 

The trouble with Gold is that it doesn't pay any interest or dividends, so even if it remains unchanged, if you borrow money to buy Gold, you are actually losing money from the Interest Payment. The other problem with Gold is that it never gets old. It is rare, but all the Gold that was ever found in history is still reusuable today. 

 

True that Gold should be a World Currency, and all money should be backed by Gold Bars. But the truth is that it isn't. Gold is still mostly sold as Expensive Jewelry. A good harvest in India or China has more to do with the price of Gold going up than a war in Iraq. Long Term anyway. So for now the US Dollar is King, and almost everything that is bought and sold is done in US Dollars. 

 

If the US Dollar had to be backed by Gold, the price of a Troy Ounce of Gold would be well over $5,000 today. But the truth of the matter is that Gold isn't backing anything. More and more countries are holding less Gold today then when they did in the 1970's. Gold Miniing Companies are doing terrible right now. With the newer generation stepping up to the plate now, fewer and fewer people are seeing Gold as Money. I think Gold already had its day. 

[speedtripler]

On 6/16/2017 at 1:23 AM, how241 said:

With Aurora,  your can hold physical gold bars if you want...Many Thai banks have stock brokers where you can trade paper gold at lower commission fees...

Paper gold is an IOU of the real asset 

The only gold you really own is that which is in your posession 

[speedtripler]

On 6/16/2017 at 2:33 PM, natway09 said:

Unlike some comments above I think gold is a good investment, up to 20% of your portfolio.

I buy in 10bht ingots. Last 3 years have made 24%,,18% more than banks & no tax.

Suggest you watch the gold price, go to a Chinese Gold shop knowing what to pay.

They will accept cash only normally. Ensure properly stamped 

Over 5 years I doubt if can go wrong

 

 

Early Tuesday, prices hit an all-time high of $1,917.90 an ounce, before pulling back to about $1,880. "Gold could keep working its way higher, but it is starting to look a bit bubbly," said Matt Zeman market strategist at Kingsview Financial in Chicago.Aug 22, 2011

 

Gold lol ,what could possibly go wrong ? 

 

 

.

Edited June 19, 2017 by speedtripler

[khrab]

 

Alan Greenspan:

 

Only gold is money. Everything else is credit.

[EricTh]

I went to a few gold shops in Chiang Mai and none of them sell any gold bars.

 

Does anyone know whether we can take these gold bars out of Thailand?

Edited June 22, 2017 by EricTh

[speedtripler]

1 hour ago, EricTh said:

I went to a few gold shops in Chiang Mai and none of them sell any gold bars.

 

Does anyone know whether we can take these gold bars out of Thailand?

you wont get a decent price for thai gold in the west because its 23 karat (96.5% )

they need to appraise it to find out the purity and you have to pay for that 

 

they can order international gold (99.999 thb pure ) but all the charges  eats into your investment 

so id buy thai gold to own in thailand and sell in thailand 

 

and purchase proper gold in the west and leave it there 

[khrab]

On 22.6.2017 at 5:16 PM, EricTh said:

I went to a few gold shops in Chiang Mai and none of them sell any gold bars.

 

 

The one near Changpuek gate inside the moat always had. Even in larger quantities. The bars are never on display. You have to ask for and they bring them upfront.

[EricTh]

13 hours ago, khrab said:

The one near Changpuek gate inside the moat always had. Even in larger quantities. The bars are never on display. You have to ask for and they bring them upfront.

I did ask but they said the gold bars are sold out.

 

Do you know the name of the shop near Changpuek? 

Edited June 24, 2017 by EricTh

[khrab]

On 24.6.2017 at 11:22 AM, EricTh said:

I did ask but they said the gold bars are sold out.

 

Do you know the name of the shop near Changpuek? 

Kulsrisuwan

 

The shop is easy to regognise. It has 3 car parking spots right in front.

 

[Jack Mountain]

Hi, this picture gives the Gold prices at a shop yesterday. I think i understand the 2 upper nummers (buy and sell) but what does the lowest number (19000) mean?

[speedtripler]

10 hours ago, Jack Mountain said:

Hi, this picture gives the Gold prices at a shop yesterday. I think i understand the 2 upper nummers (buy and sell) but what does the lowest number (19000) mean?

Jewellery 

 

On 23/06/2017 at 8:43 PM, khrab said:

The one near Changpuek gate inside the moat always had. Even in larger quantities. The bars are never on display. You have to ask for and they bring them upfront.

What size bars do they sell in the largest denominations?