GOLD

I would agree with an arguement simply stating that nothing goes up forever, but the counter to that is that gold isn't going up. The value of the currency in which it is being priced is going down. Historically, gold is always the measure and essentially always at an equilibrium to other currencies. Gold is a currency, not a commodity. It is the "only" currency with no liabilities attached to it. Now, if you can explain how the value of money will somehow go up by printing more of it, not only will you figure out how the price of gold could go down, you will be well on your way to receiving the Nobel Prize for Economics.

biscuitz wrote:im in luang prabang, laos. went to the china market today, there were a few jewelry shops that i had a look at as i wanted to purchase a gold bracelet, i spotted one that took my fancy, the chinese lady didnt speak much english except for (ok).. she weighed the bracelet that came up as 13.2g, so now i wanted to know the purity of the gold so i asked the lady this (as easy as i could for her to understand), weres the hallmark / stamp i said, she repied ok, ok, look here.. so i looked at what she shown me & the hallmark was stamped ( ok ) is in OK

Some interesting questions biscuitz. This website (below) gives the daily buy/sell rates. (1) baht-weight of Thai
gold is 15.16 grams. In your example, you are getting slightly less than that. In fact, 13% less than a full baht-weight.
Thai ornamental gold jewelry is normally 23 karat or 96.5% pure gold while the bar gold is often fine or 99.9 % pure.
Different metals/alloys have changing densities and this is one way you can test the purity although I would think
they would also give you a certificate guaranteeing it's quality. I'm also trying to learn about gold investing.
http://www.goldtraders.or.th/

Gold bars sold in Thailand are typically 96.5% pure same as jewelry. It is possible, but difficult (unless in Bangkok) to get the global standard 99.9% purity. Why? I can only speculate that Somebody (note the capitalization) imports 99.9%, dilutes it, and pockets the 3.4% difference. It is interesting to note that, to my knowledge, Thailand is unique in offering 96.5% purity which lends some plausibility to my speculation.

So, we can compromise and admit that Thai gold bars in both 23 and 24 Karat are available. Have to ask a
gold-shop owner about the other part. In the past, they actually did have some working gold mines here.

And, since we're all on a learning adventure here Khondahm, why are they charging a higher set of prices
for the gold bars of similar weight to jewelry? I would think if anything the "worked" metal would cost more?
on that website below, the top set of prices is jewelry and the bottom bars, but the selling price for 1 baht-weight
is 400 baht more for the bar? Both commonly 96.5% as you say? questions professor, questions, questions.

http://www.goldtraders.or.th

cali4995 wrote:And, since we're all on a learning adventure here Khondahm, why are they charging a higher set of prices
for the gold bars of similar weight to jewelry? I would think if anything the "worked" metal would cost more?
on that website below, the top set of prices is jewelry and the bottom bars, but the selling price for 1 baht-weight
is 400 baht more for the bar? Both commonly 96.5% as you say? questions professor, questions, questions.

http://www.goldtraders.or.th

Well, not exactly, my eager Padawan.

The first ROW is bars, the bottom ROW is jewelry. The first price column is the price you would sell to a shop. The higher one next to it is the price you would buy from a shop.

"Only different in your mind. You must unlearn what you have learned." - Jedi Master Yoda

Also, if selling, you would reduce the amount by the shop's commission (THB 50 per baht weight in Udon, THB 200 in Pattaya). Likewise, you would need to add the same commission amount if you are buying from the shop.

Here's a better website in English: http://phuketindex.com/update-gold-e.htm

Cheers!

yes master yoda, i will try to "empty my mind" but seriously you really have to wrap your brain around
this math? (1) baht-weight is 15.2 grams but if it's only 96.5% pure it's really only 14.7g? (1) troy ounce, the
international standard for gold measurement is 31.1g. so, 31.1 / 14.7 = 2.12 baht-weight to one INT unit.
19,000 baht x 2.12 = 40,280 baht for one troy ounce. at the current exchange rate 100$ / 3,222 baht
then that comes to hmmm... 1,250 $ per troy ounce. yes, more plausibility for your "missing gold" theory

I know what you mean. I only made it through Advanced Calculus in college and it baffles me, too. As long as it's consistent - whatever math they are using - I am ok with it.

Gold priced in USD hit a new high...again. $1,260/oz. Gold priced in other currencies have been hitting new highs almost daily. In a year, $1,260 will be the good ole' days when gold was cheap just like we look back to a year ago from now when gold was @$933, or three years ago when gold was $656.

I think there will be another 2008 magnitude market shock (probably worse) this year. When it happens, funds will again be flooded with redemption requests and everything will tank, including the Comex (aka Crimex) paper gold market. It will be a glorious time to buy.

FYI here are "50 Surprising Facts You Never Knew About Gold"

http://www.lewrockwell.com/spl2/50-surp ... -gold.html

5. It is believed that around 80% of earth's gold is still buried underground.

As opposed to being buried above ground.....

thrilled wrote: Anyway if ya want A good deal go to Bangkok Yarophat road in chinatown.

I have heard that same advice before, that gold from Bangkok's Chinatown is better. But, never bothered to find out why?
Why thrilled? Is the quality/purity better? What about one ounce gold bars?

I do remember going to Chinatown with a friend who wanted to trade a small gold chain purchased in Chiang Mai, to a large gold chain.
The gold shop owner looked at my friends chain and said: "this gold not come from Chinatown". He did take it in as trade for a larger weight chain. I don't know if my friend got less trade-in value?

I'm interested in gold bars. Any recommendations for a reputable gold shop/dealer here in Udon?

Gold up, US dollar down. Bearishness in the US dollar is approaching an extreme. As a contrarian, my guess is a pop up in gold (down in dollar) for maybe 10% more, then a recovery in the US dollar. Long term, QE2 (US Fed quantitative easing) will destroy the dollar. It will help the US based multinationals but hurt the average middle class American... who still does not understand his currency is being debased (or even what debased means for that matter).

OT's going to Nairobi on Saturday to watch the football match. Shall I take gold or US dollars.
Enough said.

OT.......

Never been there, so can not comment. I do know that there are a few places (albeit not many) around this planet that are refusing to accept US dollars, as by the time they get around to converting their US dollars into a more stable currency, it has, more often than not, lost a bit of value. With profits thin these days, can you blame them?