Buying and Selling Gold in Thailand
Buying Gold by the Baht
Thai Gold is famous worldwide for its high purity of 96.5 percent (or 23 carat). Thai Gold is measured in “Baht” and is not to be confused with the same word for Thailand’s Currency.
Every shop in Thailand follows the gold price set by the Thai Gold Traders Association. Thai Gold price does not fluctuate very often like the world gold market, because it only changes in multiples of 50 baht and Thai Gold shops are required to immediately change their display prices when the price is announced.
You can also check the latest Thai gold prices here or charts of Thai gold price history.
Thai Gold shops mostly have all the prices displayed in the unit of baht and of 23 carat purity. 99% pure gold is also sold in some shops in Thailand. Gold is sold in many forms such as jewelry, bars, biscuits, commemorative coins, Chinese coins, etc.
The price of each form of gold may differ from the standard price for gold bullion bars because of other charges such as making charge, craftsmanship, purity, etc.
Many gold shops also buy gold and their buying price is often 100 baht less than the selling price.
How much is a Baht of Gold?
1 baht of gold is approximately 15.244 grams in its raw or unrefined form while in jewelries; 1 baht of gold is reduced down to 15.16 grams.
The Thai baht of gold is considered as having the highest content of gold all over the world with an approximate purity of 96.5 percent.
Thai gold jewelries are also considered as the most affordable ones all across the globe when compared to other pieces of jewelry with similar gold contents in grams.
Baht is also the currency used in Thailand and it’s best to keep this mind so you shouldn’t confuse one with the other when buying gold jewelries.
For other gold measurements used in Thailand, there are also the satang and the salung. For every one hundred satang’s, you get 1 baht of gold and for every one salung; you get twenty-five satangs.
Buying Baht Gold Jewelries
Baht gold jewelries, as mentioned, contain about a 96.5 percent purity of gold; with the remaining 3.5 percent content in either silver or bronze. For something with this much of a gold content, baht gold jewelries are among the cheapest that you can find worldwide.
For instance, when you purchase any piece of jewelry indicated as containing 14k gold; you will most likely get a fifty percent of gold only; whereas a 14k baht gold will give you almost a hundred percent of gold content, or 96.5%.
US Gold vs. Baht Gold.
When you buy gold jewelry manufactured in the United States, more than half of the price that you will be paying for is determined by the design and the amount of labor put into making that particular piece.
Only a quarter of the price goes to the gold content which basically tells you that there’s not much gold in the jewelry. With baht gold jewelry, what you will be paying for is the actual gold content. Only a small portion of the price goes to the design and the amount of labor it took to make the item.
As a form of investment, what this means is that your baht gold jewelry is valued higher in the market hence; when the price of gold goes up, so too, will the re-sale value of your jewelry.
For the standard US gold jewelry, the value of gold may actually decrease over time regardless of the current selling price of gold.
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