Let's just say I know a local who bought 2 baht of gold for just over a 52k baht.
I bought 1 ounce of gold for around 51k baht in Canada.
Thing is.... my Canadian gold is 99.99% pure while Thai gold is 97%.
2 baht of gold 30.48 grams
1 ounce of gold 28.35 grams
So.... Gold in Thailand isn't really cheaper, is it? Where is the deal?
Both transactions took place at almost the same time.
...why do you think gold is cheaper here?...
...majestically enthroned amid the vulgar herd...
What are you guys, survivalists?
i don't think there is a difference, or at least shouldn't be. The way i understand it gold has an international value.So the price is the same anywhere. What usually happens is the economy gets shaky , the dollar gets weak, people get nervous and buy gold. I'd be afraid to buy gold in thailand,cuz i wouldn't trust the dealers. If someone bought gold cheap in thailand it was most likely a few years ago before the price jumped, it was cheap cuz of when he bought it not where.
I worked with a guy a few years ago ,he was always talking about all the cheap gold he bought in BKK to take back home and sell. I think it's some kind of urban myth.Gold is just a global commodity you can know the price of it by looking in any newspaper just like buying dollars or a barrel of oil.
The price of gold is an international standard (daily spot price); Thai gold, as in jewelry, doesn't have the mark-up (for the labor) as expensive as in the west.
When you buy gold here (jewelry) you pay the price of gold that day plus ฿400 for the labor. For bullion it's the spot price plus commission.
18 caret gold is 75% gold and 25% alloy. Standard Thai gold jewelry is 97%. It's really too soft for rings (they bend and wear) so, our wedding rings (custom made) were 18 caret or 75% and will/do take day to day use well.
Gold isn't cheaper, but gold jewelry is.
Last edited by THX 1133; 25th April 2012 at 10:15.
Frederick Douglass: Find out just what any people will quietly submit to
and you have found out the exact measure of injustice
and wrong which will be imposed upon them, and these
will continue till they are resisted with either
words or blows, or with both.
ďDonít believe them, donít fear them, donít ask
anything of them.Ē
If you guys want to see what the price of gold is please visit my website: sh1ny.com
It has price of gold, silver, platinum and palladium updated every 2 minutes in 26 currencies. There is also a chart and news section regarding precious metals.
I hope this helps!