FAT_AUSSIE Posted May 22, 2006 Report Share Posted May 22, 2006 Hi Guys. Firstly I must say that I have never had an interest in gold jewlery whatsoever, and therefore know jackshit about it. My wife from time to time speaks about it but like I said I never listen coz I don't care. Anyhow she's coming over soon. she's been telling me about appreciating prices, and she has allways wanted me to wear gold etc, etc. so I said OK buy me something and bring it to Oz. I guess if I dont take to it its as good as liquid so, no biggy. so what is the deal with gold Thai and how it differs to western gold? prices, lerks, perks, etc. Your advice is aprieciated. Link to comment Share on other sites More sharing options...
junglesoup Posted May 22, 2006 Report Share Posted May 22, 2006 Hi Fat Aussie, just remembered you sent me a pm alittle while ago about currency trading. Sorry havent got back to you yet. Been busy man. Any way I ll write soon, no problem big man. Not so sure about gold. I think the value of gold is going up because of the weakness in the dollar. Gold is perceived as a safe haven. This percerption has become a self-fullfilling prohecy in the price of gold. There was a big dip last week in the price of metals,so this maybe a good time to buy it. Buy on the dips. Speak soon man, Chris. Link to comment Share on other sites More sharing options...
Vintage_Kwai Posted May 22, 2006 Report Share Posted May 22, 2006 FAT_AUSSIE said:Hi Guys. so what is the deal with gold Thai and how it differs to western gold? prices, lerks, perks, etc. Your advice is aprieciated. The difference between the gold sold in Thailand and the gold sold in the rest of the world is the purity, expressed in karats. Pure gold would be 24 karat. Gold sold in Thailand is of the 22 karat variety, Thais seem to prefer it as it looks a lot more yellow. It's usually identified with the number 916. Gold sold in the rest of the world is typically18 karat. Note that 22 karat gold is a lot softer than 18 karat, so it is very easy to bend out of shape. Some light reading... http://www.emporia.edu/earthsci/amber/go340/gold.htm Hope that helps. Link to comment Share on other sites More sharing options...
chuckwoww Posted May 22, 2006 Report Share Posted May 22, 2006 This may be more information than you need... http://www.kitco.com/ The world price is for 24 carat bullion....plus a premium if you buy the physical. But there are many ways of holding gold without actually buying the metal. The gold market is very hot right now because of dollar dilution and all the nervousness in geopolitics. It is also extremely volatile and almost certainly manipulated by some very smart people. Hope this helps. Link to comment Share on other sites More sharing options...
Julian2 Posted May 22, 2006 Report Share Posted May 22, 2006 Some funny trading goes on, last year half the village sold their gold at about 9500 baht price, including my little cupcake, confident of buying it back at half the price this year. On our weekly trip to the Big C mall I always point out the current price at the gold shop, the last time causing her to run into me with the shopping trolley. (Over the gouty toe too, OWOWOW). Rotten spiteful bitch. Link to comment Share on other sites More sharing options...
Guest Posted May 23, 2006 Report Share Posted May 23, 2006 Gold sold in Thailand is of the 22 karat variety and of course the little tag stamped 22 means it is not fake Link to comment Share on other sites More sharing options...
FAT_AUSSIE Posted May 23, 2006 Author Report Share Posted May 23, 2006 Hi guys. The aspect I am trying to get my head around is the 1baht, 2baht, 3baht concept. My guess is that there is some sort of corelation between baht and carrat. The amount of gold were talking is one thick chain (mens) for myself. My wife recomends 2 or maybe 3 baht but this means little to me. The fact that it is gold means if I dont like it there's no probs selling it (another guess). Something my wife did mention is that people are jumping over each other to buy it at the moment, even using credit cards. Cheers. FA... Link to comment Share on other sites More sharing options...
chuckwoww Posted May 23, 2006 Report Share Posted May 23, 2006 A baht weight is 15.2 grams....roughly half an ounce. There is always lots of interest in gold in Asia and the Middle East and especially now. Buying creates more buying. But you have to remember the big decisions are made on COMEX and the London Metals Exchange. And the Federal Reserve sees gold as a threat to fiat. I think the price will double from here but over time and not in a straight line. Here's something you likely won't find on CNN... Saudi firm buys gold for $480m Monday, May 22, 2006, Riyadh Private Saudi Al Othaim Jewellery Factory Group said it had bought 36 tonnes of raw gold from an African central bank for SR1.8 billion ($480 million). 'The price should include 20 per cent margin for the sharp fluctuations in gold prices in international markets,' Suleiman Al Othaim, board chairman of the Riyadh-based firm, said. Delivery of the gold would start in the fourth quarter of this year, he said. 'We concluded the deal directly with the African central bank. The trade has its secrets, I can't tell you of which country it (the bank) is,' Al Othaim said. http://tinyurl.com/p8b3n Link to comment Share on other sites More sharing options...
Vintage_Kwai Posted May 23, 2006 Report Share Posted May 23, 2006 chuckwoww said: ....snip, snip.. 'We concluded the deal directly with the African central bank. The trade has its secrets, I can't tell you of which country it (the bank) is,' Al Othaim said. Could be one of the biggest scams yet.... http://www.snopes.com/crime/fraud/nigeria.asp Link to comment Share on other sites More sharing options...
chuckwoww Posted May 23, 2006 Report Share Posted May 23, 2006 I think if anybody's getting scammed this time it's the African Bank. The Saudis have been ripping Africans off for centuries. Link to comment Share on other sites More sharing options...
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