You cannot reply to this topic Go to first unread post 11 replies to this topic

[CrossBones]

Well it seems that gold is going up and up...

Can anyone advise me if I will have trouble getting gold out of thailand (about $50,000 worth). Do they stop me at customs with the small gold bars? Or do I need to wear many gold chains like Mr T?

Also where in Bangkok can I buy gold without getting ripped off?

Thanks

[gehfab]

try this website if you're able to read Thai:

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

Yaowarat (Chinatown) in Bangkok is the best place to buy gold.

[cognos]

cross bones..I bought good gold( jewellry) in Chiang mai..after paying for a prof. evaluation back home in Canada..it was worth 3 times as much ( labour costs), and it even weighed a little more than advertised!!Pm me if you wish, and I 'll give you the shop's name and phone number..

[cognos]

hint.. tsx stock market in canada.. NGX, TKO, if you buy..watch it grow!! signed...not a stock broker..just jai dee

[lapamita]

you can take out THAI gold unlimited , but we have the law about BNI ) bareer negotiable instruments ) so maybe now it falls under the 20.000 usd limit.
dont think about export out, think about where you bring it, most countrys, you have to tax gold with VAT , most exceptions are only bullion 999 so youre not bringing bulllion to other country, so mostly have to tax VAT as well you have to report ( for excample singapore since 10.11.2007 it falls under barear negotibale inrstruments and all have to report above 30.000 sing dollar )

best place to buy is like reportet up in chinatown.

that a goldshop give you more weight like reportet or 3x times value hmmmm,,,

if youre want to sell foreign bullion or other coins please BM to me ( only coins )

[manofthepeeps]

YOU BUY 50,000$ worth of gold , you want to sell it back they will buy back @$35,000, if they like you!

[noise]

cognos, on 2009-11-21 23:32:58, said:

cross bones..I bought good gold( jewellry) in Chiang mai..after paying for a prof. evaluation back home in Canada..it was worth 3 times as much ( labour costs), and it even weighed a little more than advertised!!Pm me if you wish, and I 'll give you the shop's name and phone number..

All the jewelry we have bought over the years fall/fell in this category; replacement value back home was higher (varied in how much higher) based on labor costs and logistics (import costs, taxes, etc.,). It wasn't the $/oz that varied, it was the intricacy of the design of the necklace and/or the number of middle men between the Russian diamond cutter and the Thai jewelry store vs the European diamond cutter and the California jewelry store.

But gold and jewelry stones have no intrinsic value of their own (i.e., the industrial use couldn't absorb what is in the market). It is strictly an emotional demand. Despite the apparent demand for it in Thailand now, I have seen a dramatic change over the years from the women wearing only gold and diamonds and rubies to "costume" jewelry. If economic times were good, incomes high, and the population increase was factored in, I would bet that the per capita demand for gold in Thailand has dropped significantly (despite all the sinsod postings). Could this be extrapolated around the world?

Gold is up because of the bad world economy. If you have $50K in gold and need the money, would you be able to sell it? Gold shops are closing because the demand is drying up; too expensive. Some shops still open are not buying gold back except at a fairly good discount because of the lack of demand. And making a profit requires finding a market at a higher price than that for which you bought it. Is it there?

[CrossBones]

manofthepeeps, on 2009-11-22 11:21:28, said:

YOU BUY 50,000$ worth of gold , you want to sell it back they will buy back @$35,000, if they like you!

On the gold nuggets they buy back at 5-10% less, but gold prices are going up and up.

So what you are saying isnt really correct, unless you are unlucky

[old wanderer]

Last year, when gold was about $900/oz, I still had a substantial amount of money in several Thai banks. Since I new it would be over a year before we would return, I simply withdrew the money and bought the 5 and 10 baht gold bars in China town.

They were considered bullion, and exempt from declaration into the USA. Now at $1150/oz, am I a happy guy

(Every once in a while, my wife says..."I want to play with my gold and jewelry" and I open the safe and she lays it all over the bed, like a little girl playing with dolls. )

Did I make any money, NO, but I did keep my money from devaluation. I can return it to Thailand, or sell it here at full value.

[Maizefarmer]

Thai gold - as you buy it across the counter in a jewellery shop in Thailand isn't pure enough to be held & traded, As for the 99,99% and 99, 999% type, you can purchase them in Thailand, but the little bars and nuggest that folk usualy hold the stuff in the form of - they're cheaper purchased in places like Dubai.

Better still - go sit at one of the airports in North Kivu (Congo) - you can buy a gram of gold from under-the-counter dealers for around $30! A kilo for $30K - has to be a good investment.

[Soutpeel]

Maizefarmer, on 2009-11-22 15:33:33, said:

Better still - go sit at one of the airports in North Kivu (Congo) - you can buy a gram of gold from under-the-counter dealers for around $30! A kilo for $30K - has to be a good investment.

Of course flak jacket, AK and body guards are an optional extra...

[Maipenrai007]

What about posting gold out of Thailand in small amounts say 1 Bht - 1/2 Oz