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revgreen

Couple of questions about gold

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I want to buy myself a small (1/2 - 1 baht) gold chain. I saw the current price is around 23k, without much recent fluctuation. Would there be any benefit in waiting to see if it goes down? I have a few established shops in my neighborhood, should I buy there or at one of the malls? Is it really necessary to go to Yaowarat? What style of chain is most durable? I have seen a few comments saying links are a bad choice because they break easily.

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54 minutes ago, revgreen said:

durable? I have seen a few comments saying links are a bad choice because they break easily.

Yes they do.

Ask any LB on Beach road easy to snatch them while they give you kisses and hugs.

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3 minutes ago, bkk6060 said:

Yes they do.

Ask any LB on Beach road easy to snatch them while they give you kisses and hugs.

 

Good that I don’t intend on any trips to Pattaya then eh?

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Oh, the other thing I forgot to mention is that you can sometimes negotiate down on the "making' price. This is the cost per baht of manufacturing the jewellery. More intricate designs will cost more, generally. But see if they can shave a bit off the price for making.

 

Gold bars don't have a making price attached to them.

 

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Gold is a store of value whose price is largely determined by its supply and demand fundamentals.  In times of uncertainty, particularly short sharp world events of a "calamitous" nature, its price spikes, but it settles back down shortly afterwards to be underpinned once more by its fundamentals.

 

The uptrend over the past several months started before being triggered by things like Covid-19. Covid-19 has, however, pushed the price even further upwards.  My own opinion is that this trajectory will stay in place for the foreseeable future, possibly to take out the previous all time spot-price high around $1920 over the next eighteen months to two years.

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Thanks for all the answers! Got a chain today, they took 300 off the 600 labor fee. Tested the scale, saw the chain weighed, got a paper receipt. As I said, for me I just like the look, but if the price does continue upwards it's nice knowing a have a new TV or something "in the bank".

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9 minutes ago, Dazinoz said:

I often laugh at people who say gold is not and investment. I bought shares in Australia as an investment and the companies failed and I lots all my so called investment.

 

Everything I read pointed to gold doing what its doing now and I have 38 baht thai gold (bars) at an average cost of 19967baht/baht. At the time of writing I could sell that gold for 23800baht/baht which gives me a total profit of 145,654 baht.

 

I will stick to my gold "non investment".

 

A neat profit... 

 

What if someone wanted to make a ‘significant’ investment and purchase something in the region of 10MB of gold?

 

Where could they keep it? What would the volume be? how would they go about it?

 

 

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3 minutes ago, richard_smith237 said:

A neat profit... 

 

What if someone wanted to make a ‘significant’ investment and purchase something in the region of 10MB of gold?

 

Where could they keep it? What would the volume be? how would they go about it?

 

 

As I don't have the money to buy that much gold I have no idea.

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51 minutes ago, richard_smith237 said:

A neat profit... 

 

What if someone wanted to make a ‘significant’ investment and purchase something in the region of 10MB of gold?

 

Where could they keep it? What would the volume be? how would they go about it?

 

 

That sum would buy you about 200 Kruger Rands, each of 1 oz of fine gold. The volume is not too great but best to keep in a bank vault.

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Where are you planning on keeping this gold?

 

Just like cash, gold can be easily stolen.

 

I'd recommend a stock market index fund which can't be stolen off your neck or from your "estate". 😮

Edited by SiSePuede419

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6 hours ago, allanos said:

That sum would buy you about 200 Kruger Rands, each of 1 oz of fine gold. The volume is not too great but best to keep in a bank vault.

Worst place to put it! Private vault in the Bangkok Citi bank building, Silom Rd., second floor, turn right after the escalator. Don’t be a #%@&*+# fool and keep it in a bank. Krugerrands  are sh#%. 91%mixed with copper don’t even look like gold.

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7 hours ago, allanos said:

That sum would buy you about 200 Kruger Rands, each of 1 oz of fine gold. The volume is not too great but best to keep in a bank vault.

I am in Thailand so I buy Thai gold, very easy to sell if needed.

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Unless you trade in the millions, gold is best treated as an hedge against inflation.  I think that your "profit" isn't as high as you think when you include the erosion of inflation.  

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