Jump to content
Technical Difficulties Read more... ×
BANGKOK 16 November 2018 04:23

Recommended Posts

Posted (edited)

I have a few questions on buying gold bars ( 5 & 10B) in Thailand.

 

1.  Thai gold bars are typically 23k (96.5%) gold.  Since the world gold price is based on 24k gold per ounce, does Thailand calculate their price based on 23k gold?

 

2.  I recently went to a major gold store to enquire about purchasing a large amount of gold bars and the owner requested a passport or Thai license.  Is that standard?

 

3.  Should the gold be tested or can we trust a multi-location gold store?  They weigh it in front of you, but it still could contain tungsten (similar in weight to gold) or other cheaper metals.

Edited by parallaxtech
syntax
  • Like 1

Share this post


Link to post
Share on other sites

1. The price is adjusted from world prices to factor in the lower gold content.

 

2. For larger quantities, yes.

 

3. Go for a reputable name and you won't have a problem.  Many stores offer a guaranteed buyback, so it's not in their interests to cheat you.

  • Like 2

Share this post


Link to post
Share on other sites

Thought this topic would be about crypto coins.

 

Where are you going to store the gold?

 

With zero dividends/interest there is little value in buying gold unless you think the price will increase dramatically.

  • Like 1

Share this post


Link to post
Share on other sites
4 hours ago, Justfine said:

Thought this topic would be about crypto coins.

 

Where are you going to store the gold?

 

With zero dividends/interest there is little value in buying gold unless you think the price will increase dramatically.

You store it in a bank safety deposit box! And if buying coins, it is tax free in Europe! 

Share this post


Link to post
Share on other sites

I found it hard to find a shop that sold ingots (smallish provincial city).

 

When I did they charged standard sell price + 50 baht/baht, then buy back for standard buy price minus 50 baht/baht. This basically increased the spread from 100 baht to 200 baht.

 

Those that didn't sell ingots said there wasn't enough profit in it.

  • Like 1

Share this post


Link to post
Share on other sites
2 minutes ago, exemplary21 said:

I found it hard to find a shop that sold ingots (smallish provincial city).

 

When I did they charged standard sell price + 50 baht/baht, then buy back for standard buy price minus 50 baht/baht. This basically increased the spread from 100 baht to 200 baht.

 

Those that didn't sell ingots said there wasn't enough profit in it.

100 baht fees

No dividends

No interest

Paying for storage

 

You would have to get the timing right and only been 2 large booms in 100 years.

  • Like 1

Share this post


Link to post
Share on other sites
On 6/17/2018 at 5:47 AM, Justfine said:

With zero dividends/interest there is little value in buying gold unless you think the price will increase dramatically.

Why it would need to increase in price dramatically?

 

If it increase 5% per annum you beat the banks already

  • Like 1

Share this post


Link to post
Share on other sites
4 minutes ago, janclaes47 said:

Why it would need to increase in price dramatically?

 

If it increase 5% per annum you beat the banks already

5% less fees is nothing. Bank shares pay higher dividends.

  • Like 1

Share this post


Link to post
Share on other sites
Posted (edited)
2 hours ago, Timebandit said:

Stay away from banks for storage. As soon as the bank box closes the gold becomes theirs, same is true with your account. There are commercial vaulting companies you can find with a little  investigation. Do not tell ANYONE you have it. Don't get overly excited by the price of greatly manipulated paper money. This gold is an insurance policy for inflation and a monetary crisis. 

You talking about bank where? Us or Europe and EU member? I would bet a Swiss bank or simular country would take care of your belongings, more safe than any other instutution. Switzerland is not part of EU. 

Edited by Hummin
  • Like 1

Share this post


Link to post
Share on other sites
1 minute ago, Kurtf said:

You sir obviously are not aware of the value of gold. People do not buy and own gold strictly in the hopes it will increase in value in the immediate future. Gold is a method of PRESERVING wealth. It counteracts inflation. A bank account that gives you 1.6%- 2.0% of interest is a sure fire way of losing and diminishing your wealth over an extended period of time. I guess you are not aware of how insidious inflation is and how gold over thousands of years has been able to continue to maintain the purchasing power of the original investment.

 If gold stays the same price then inflation means it's worse less than money in the bank. So unless it goes up it's dead money.

 

Gold was a dog for 30 years as an investment and if you look at 100 year charts it's had 2 major booms.

 

Meanwhile property and shares have had many booms.

 

 

  • Like 1

Share this post


Link to post
Share on other sites
2 minutes ago, Kurtf said:

The banks love uninformed people like yourself. May God protect you from your own stupidity.

Ironic given your comments indicate you don't understand what a good return is.

 

There are bank shares yielding 6% and 7%.

 

Educate yourself.

  • Like 1

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

Sponsors
×