Buying Gold Thread
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Buying Gold Thread
Hi all. I have a bit of money basically doing nothing in the UK. Some of it I've put into Premium Bonds (No risk investment,probably low yield but you never know.
Anyhoo I've recently heard about this Hua Seng Heng gold shop in BKK where instead of buying gold jewellery you can buy ingots and the like.
Has anyone here had any experience you can share about this place, for instance can you just roll up and buy a stash?
Mod edit: tweaked title to make thread more user friendly.
Anyhoo I've recently heard about this Hua Seng Heng gold shop in BKK where instead of buying gold jewellery you can buy ingots and the like.
Has anyone here had any experience you can share about this place, for instance can you just roll up and buy a stash?
Mod edit: tweaked title to make thread more user friendly.
Don't piss on my back and tell me it's raining.
Re: Hua Seng Heng Gold Shop
You can buy ingots/bars from any gold shop. Slightly cheaper than jewelry.
- Ginjaninja
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Re: Hua Seng Heng Gold Shop
I bought gold as a commodity through my banking app - Revolut. Worth checking out as you can buy crypto & shares on it too. I've not bought any shares yet but the Bitcoin buy and sell fees were astronomical.
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Re: Hua Seng Heng Gold Shop
Cheers HHT although I was told HSH offer better rates. But I will bear local shops in mind as I don't really fancy a trip to Covid central right now.
Don't piss on my back and tell me it's raining.
Re: Hua Seng Heng Gold Shop
There are plenty of gold shops which are part of national chains (gold of course). This helps when trying to sell the gold back.
Re: Hua Seng Heng Gold Shop
Might be a good time to start loading up, its tanked 7% since the beginning of June. https://goldprice.org/gold-price-chart.html
There could be a run on Thai banks in light of the recent news, and the impending economic collapse! The billionaires don't trust banks either.
There could be a run on Thai banks in light of the recent news, and the impending economic collapse! The billionaires don't trust banks either.
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
- Ginjaninja
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Re: Hua Seng Heng Gold Shop
Crypto on the other hand at a monthly high (BC & Ether).
My Gold in the red…
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My Gold in the red…
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Re: Hua Seng Heng Gold Shop
ETH baby ETH ... 300% since the beginning of the year - happy days.
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
- Ginjaninja
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Re: Hua Seng Heng Gold Shop
Set your stop losses now!
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Re: Hua Seng Heng Gold Shop
Got a couple of blocks in a gold shop in Prachuap town this week. They charge 300 baht commission per 1 baht block, this is likely to be a lot cheaper in Bangkok but it costs way more to get there and back so makes sense buying locally.
Reckon there could be a rally back over $1,800 if the stock markets continue to correct. Even more so locally if the banks are in trouble, the baht devalues, and inflation keeps going up.
Reckon there could be a rally back over $1,800 if the stock markets continue to correct. Even more so locally if the banks are in trouble, the baht devalues, and inflation keeps going up.
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
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Re: Hua Seng Heng Gold Shop
Keep any eye on Au right now.
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Re: Hua Seng Heng Gold Shop
Price of spot gold surges on inflation
Spot gold prices hit a four-month high at US$1,860.50 an ounce yesterday as rising inflation fears boost demand for the precious metal as a safe-haven asset.
Concerns over inflation are rising worldwide as US inflation hit a 31-year high in October at 6.2%, much above analysts' forecast of 5.9% while eurozone inflation hit a 13-year high in October at 4.1% as the bloc confronts surging energy prices.
Fears of inflation drove investors to gold and cryptocurrencies like Bitcoin as hedges against inflation. However, gold is currently the better choice because its price remained laggard while cryptocurrency prices skyrocketed this year.
After the news of the "inflation shock" emerged, the gold price instantly rose by over 10% on Wednesday night, while the domestic opening gold price yesterday jumped by about 400 baht to 29,200 baht per one baht weight.
The spot price may hit $1,900 an ounce again this year, said analysts.
US inflation has risen over five consecutive months and is expected to drive the Federal Reserve to increase the tapering of its bond purchases to higher than its original target of $15 billion per month and adjust the interest rate faster than expected.
If analysts' speculation regarding the tapering and timing of an interest rate hike is true, it will hit the stock markets around the world and cause them to correct sharply.
https://www.bangkokpost.com/business/22 ... -inflation
As usual, Thailand does things its own way and has its own gold market so prices have not really risen that much here (or maybe thats to do with the manipulated currency).
Spot gold prices hit a four-month high at US$1,860.50 an ounce yesterday as rising inflation fears boost demand for the precious metal as a safe-haven asset.
Concerns over inflation are rising worldwide as US inflation hit a 31-year high in October at 6.2%, much above analysts' forecast of 5.9% while eurozone inflation hit a 13-year high in October at 4.1% as the bloc confronts surging energy prices.
Fears of inflation drove investors to gold and cryptocurrencies like Bitcoin as hedges against inflation. However, gold is currently the better choice because its price remained laggard while cryptocurrency prices skyrocketed this year.
After the news of the "inflation shock" emerged, the gold price instantly rose by over 10% on Wednesday night, while the domestic opening gold price yesterday jumped by about 400 baht to 29,200 baht per one baht weight.
The spot price may hit $1,900 an ounce again this year, said analysts.
US inflation has risen over five consecutive months and is expected to drive the Federal Reserve to increase the tapering of its bond purchases to higher than its original target of $15 billion per month and adjust the interest rate faster than expected.
If analysts' speculation regarding the tapering and timing of an interest rate hike is true, it will hit the stock markets around the world and cause them to correct sharply.
https://www.bangkokpost.com/business/22 ... -inflation
As usual, Thailand does things its own way and has its own gold market so prices have not really risen that much here (or maybe thats to do with the manipulated currency).
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
Re: Buying Gold Thread
Gold near 19-month high as ban on Russian oil drives flight to safety
Gold held near a 19-month high following a ban on Russian oil imports, as mounting concerns over inflation and economic growth boost demand for the haven asset.
In Thailand, the Gold Traders Association announced on Wednesday morning the buying prices at 31,320.56 baht per baht-weight for gold ornaments and 31,900 baht per baht-weight for gold bullion, an increase of 900 baht from the previous day.
Selling prices were set at 32,500 baht per baht-weight for gold ornaments and 32,000 baht per baht-weight for gold bullion.
The Gold Traders Association's website was temporarily down on Wednesday morning due to server problems.
https://www.bangkokpost.com/thailand/ge ... -to-safety
Gold held near a 19-month high following a ban on Russian oil imports, as mounting concerns over inflation and economic growth boost demand for the haven asset.
In Thailand, the Gold Traders Association announced on Wednesday morning the buying prices at 31,320.56 baht per baht-weight for gold ornaments and 31,900 baht per baht-weight for gold bullion, an increase of 900 baht from the previous day.
Selling prices were set at 32,500 baht per baht-weight for gold ornaments and 32,000 baht per baht-weight for gold bullion.
The Gold Traders Association's website was temporarily down on Wednesday morning due to server problems.
https://www.bangkokpost.com/thailand/ge ... -to-safety
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
Re: Buying Gold Thread
If you're considering selling any gold right now you might need to shop around. I had trouble selling a couple of bahts worth this morning. A couple of shops were a definite "mai ao, price too big".
“Never argue with an idiot. They will only bring you down to their level and beat you with experience.”
― George Carlin
“The further a society drifts from the truth, the more it will hate those who speak it.” -George Orwell.
― George Carlin
“The further a society drifts from the truth, the more it will hate those who speak it.” -George Orwell.
Re: Buying Gold Thread
That is Thailand to a tee - no problem selling it to you and taking commission, but they don't want it when they're not profiting. There should be a legal obligation to buy it back ... but TIT!
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson