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How to buy gold in Thailand – from bracelets to baht

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Jett Gunther visits Bangkok’s Chinatown and discusses why you should buy gold in Thailand, and how.

Bangkok is home to one of the largest Chinatowns in the world, and the Chinese love gold! Not only is gold highly regarded as a sacred metal, gold has held its value for thousands of years! In the past 20 years alone, the price of gold has gone up almost 500%! Gold is also a great diversifier to your stock portfolio. Compared to the stock market, gold tends to just do its own thing. Even when stocks crash, gold is often not affected.

Thai gold is 96.5%, which is a little over 23 karat. This is considered very high by international standards. In other countries, it’s common to find purities as low as 18K, 14K or even 9K.

Love it or hate it, Thai gold comes in this distinctly bright, almost “cartoonish” yellow, while gold in other countries are much darker.

One of the best things about buying gold in Thailand is that if you buy gold jewelry, the craftsman fee is incredibly cheap, sometimes as little as 35 dollars. In many countries, the craftsman fee can cost even more than the gold itself!

One thing to keep in mind is Thailand has its own unit system for gold. Whereas gold is internationally quoted in ounces, Thai gold is quoted in baht. One baht is a little over half an oz, 0.54oz to be exact.

There’s also some pitfalls you should be aware of.

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6 Comments

6 Comments

  1. Avatar

    MasterOfDisaster

    Tuesday, December 8, 2020 at 12:35 pm

    If you are white buy gold with someone who is expert in it otherwise you will be rip off because for them you are just “stupid farang”

    • Avatar

      Richard Thomson

      Friday, December 25, 2020 at 10:31 am

      Not true. The price of gold is advertised in each shop and if in doubt you can ask. If you want to buy gold jewelry it’s all laid out in sections according to what weight you want to buy (0.5 baht, 1 baht, 2 baht and so on). If you don’t like any of the designs you see move on to the next shop. The price between shops won’t vary by more than 10-15 baht regardless of which shop you go to.

  2. Avatar

    Toby Andrews

    Tuesday, December 8, 2020 at 1:38 pm

    There is no guarantee is there, such as an independent government test of the purity of the gold.
    In Britain a goldsmith sends the gold to be tested for purity and it is returned hallmarked.
    I do not think that happens in Thailand, and therefore it will give an opportunity for certain persons in Thailand to swindle.
    I do know this: the purer the gold the softer it is, and if worn the gold wears away.
    This is why 9k is good for wearing.
    As for a gold craft man’s fee being cheap, they should be. Most of the Jewelry I see is very crude

  3. Avatar

    James Goodnight

    Tuesday, December 8, 2020 at 2:18 pm

    Feel like half the article is missing. What are the pitfalls?

  4. Avatar

    Geoff

    Tuesday, December 8, 2020 at 3:10 pm

    Nothing clever about buying gold in Thailand. I just hand over money to my girlfriend and she buys it. For herself of course.

  5. Avatar

    Jowen CNX

    Tuesday, December 8, 2020 at 8:19 pm

    I do buy gold every time I travel to Thailand. Basically I started with one baht necklace at a price of 18 000 baht. The year after was about 20 000 baht and so on. Few months ago, what I understand is that most Thai people buy gold when it’s very cheap and invest on it. As soon as the gold price rises, they resell. imagine this year, a baht of gold was at around 30 000 baht, so people sell and buy again later.

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Coronavirus (Covid-19)

Thai DJ Celebrity party is likely to be “super spreader” event

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Thai DJ Celebrity party is likely to be “super spreader” event | The Thaiger
PHOTO: Thairath Online

The birthday party of Techin Ploypetch, better known as “DJ Matoom”, is now considered a super-spreader source of Covid-19, with 19 people already found infected after attending the event. According the CCSA spokesperson during the daily briefing today, “Transmissions in Bangkok should be highlighted. They show the possibility of a person becoming a super-spreader”.

The birth of the super spreader birthday party started with a guest to the DJ’s party who had visited a well-known entertainment venue in Chiang Mai between January 1 and 4. He sought a Covid-19 test on January 5 following news that infected people had visited the pub, but tested negative. He should have self quarantined for 14 days, but he still flew to Bangkok and then attended the DJ celebrity’s birthday party on January 9.

DJ Matoom says he met the guest, one of his friend, on January 9, but that friend didn’t know he was infected until January 19 in which he told Matoom.

According to Dr Tanarak Plipat, now acting inspector-general of the Public Health Ministry, an infected person can transmit disease to two others on average, while a “super spreader” will transmit to multiple people.

DJ Matoom and the party’s guest were criticised of violating the disease control measures.

SOURCE: Thai PBS World

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Bangkok

Owners of vehicles emitting black smoke to be fined up to 5,000 baht

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Owners of vehicles emitting black smoke to be fined up to 5,000 baht | The Thaiger
PHOTO: Thai PBS News

Owners of cars and trucks emitting an excessive amount of black smoke face a fine up to 5,000 baht. The heavy fine is an attempt to reduce air pollution in Bangkok. Along with the fine, the Department of Land Transport will also order the vehicle be suspended from use until its emission system is fixed.

According to the department, from October last year until January, 689,333 vehicles in Bangkok areas have been inspected for black smoke emissions, while 8,762 of them have been suspended from usage. Those vehicles emitting a high volume of smoke, but are under the safety standard, will receive warnings and owners are urged to check vehicle conditions and keep proper maintenance.

Vehicles with exceeding black smoke are urged to check their vehicles at the department’s certified vehicle inspection centres located around Bangkok’s outskirts, including Phutthamonthon, Romklao, and Khlong Luang areas. Motorists are also encouraged to help reduce air pollution caused by black smoke and PM2.5 particles by having their vehicles regularly serviced or alternately switching to electric or NGV-powered vehicles.

People who witness vehicles emitting black smoke can also report the authorities by calling 1584, or contact Line: @1584DLT, or via DLT GPS mobile application.

SOURCE: Nation Thailand

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Bangkok

Police arrest man suspected of producing ketamine drug cocktail linked to 11 deaths

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Police arrest man suspected of producing ketamine drug cocktail linked to 11 deaths | The Thaiger
PHOTO: Thairath

In the ongoing investigation into the ketamine-based drug cocktail linked to 11 deaths in Bangkok, police arrested a man who allegedly mixed large amounts of narcotics to make the drug cocktail known as “K powdered milk.” Police say the cocktail is ketamine mixed with methamphetamine, heroin and pharmaceutical pills for anxiety and sleeping.

38 year old Taiwan national Chou Yi Sen, aka “Lupin Taiwan,” was arrested yesterday after police raided his condominium in Bangkok’s Ratchathewi district. Chou allegedly admitted to mixing the drugs to make “K powdered milk” and police say the formulas for the drug mixture were found on his cell phone.

Earlier this month, 11 people died after taking the drug cocktail. The Bangkok Post says dozens more people are still in the hospital after taking the “K powdered milk.” Police have arrested numerous suspected drug dealers who ran small scale and large scale operations.

Chou allegedly ran the drug operation from various locations in Bangkok, selling the drugs overseas using the cryptocurrency Bitcoin as well as to buyers in Thailand. Police also searched Chou’s rooms at other condominium the Huai Khawang, Wang Thong Lang and Klong Toey districts, seizing a variety of illicit drugs and equipment as well as a pistol with 8 bullets.

Altogether, police seized 4 kilograms of ketamine, 376 ecstasy pills, 4 kilograms of crystal methamphetamine, 8 kilograms of heroin, 48 LSD tabs, 11.6 grams of cocaine, 2 bottles of Dormicum sleeping pills and 265 Five Five sleeping pills. Police say they also seized 2 plastic sealing machines, 2 mixers that appeared to have drug-like residue and 2 digital scales.

SOURCE: Bangkok Post

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