thunder367 Posted December 30, 2023 Share Posted December 30, 2023 before u all start with ur silly answers andeverythign else i just want straight anwsers on this plz. yes im seeing a lady who ive known good 8yrs or more.last yr i bought her a gold bracelt about 20thousand which was fien by as it was for her birthday.we chat every day and i see most days on her wrist when we video call.she has been working and and i have supported her in some way.i return in feb for 5 week trip it her birthday day after i arrive and she has hinted about more gold trading it up or something. question is how does it all work plz ive never bought gold for any other ladies or thought about buying it for myself for investment.so can some simply how it all work what is involved in it plz. Link to comment Share on other sites More sharing options...
Butch Posted December 30, 2023 Share Posted December 30, 2023 From my limited understanding, Thai women see Gold as a security (financial). In normal times, it's nice to be seen with a bit of gold on, shows wealth and is all part of the "face" thing. When times get difficult it can be pawned, which of course depends upon the base price of Gold at the time. as gold is quite high at the moment, then if she wanted to trade up, then she would "part exchange" her bracelet (for more than 20k baht you paid for it as I think Gold prices last year were a bit deflated - but may well be wrong) and then will pick a more expensive item and you pay the difference. The other option is for her to acquire more gold, maybe another bracelet. It's all seen as security though. I know a TG who was the Thai version of Mr T while she was working the bar scene. When she left she sold a load of it and purchased a farm. The only drawback is that even among the Thais, people get mugged for it when they're out and about. I might be wrong on some of the above, i'm sure someone with a bit more knowledge than me will correct me and help out soon mate. 1 Link to comment Share on other sites More sharing options...
Aqualung Posted December 30, 2023 Share Posted December 30, 2023 46 minutes ago, Butch said: From my limited understanding, Thai women see Gold as a security (financial). In normal times, it's nice to be seen with a bit of gold on, shows wealth and is all part of the "face" thing. When times get difficult it can be pawned, which of course depends upon the base price of Gold at the time. as gold is quite high at the moment, then if she wanted to trade up, then she would "part exchange" her bracelet (for more than 20k baht you paid for it as I think Gold prices last year were a bit deflated - but may well be wrong) and then will pick a more expensive item and you pay the difference. The other option is for her to acquire more gold, maybe another bracelet. It's all seen as security though. I know a TG who was the Thai version of Mr T while she was working the bar scene. When she left she sold a load of it and purchased a farm. The only drawback is that even among the Thais, people get mugged for it when they're out and about. I might be wrong on some of the above, i'm sure someone with a bit more knowledge than me will correct me and help out soon mate. You are not far wrong I reckon. I can only reiterate what you have said in that my wife has traded up her gold (and mine) on a couple of occasions. This included 2 wedding rings, a necklace and a bracelet. My first wedding ring was very soft so we upgraded it in 2019 by trading the old one plus extra baht in cash. She did the same. It's a good thing imho so thunder should probably go for it. 1 Link to comment Share on other sites More sharing options...
Stillearly Posted December 30, 2023 Share Posted December 30, 2023 Your TG will understand the process far better than any of us , tell her how much you want to spend and leave the rest to her ... just have your credit card ready at the end 1 Link to comment Share on other sites More sharing options...
fygjam Posted December 31, 2023 Share Posted December 31, 2023 (edited) Assume the bracelet was 1 baht in weight (15.244 grams). Go into any of the gold shops and tell them you want to sell it. They will offer you 32,942.68 baht (or that's what they would have offered last Friday 29th December). Now say I want to buy it back. It will cost you 34,150 baht. Simple as that. The Thai Gold Traders Association sets the price and all gold shops follow that price. The price last Friday for bars and jewellery. https://www.goldtraders.or.th/ Note: The price can fluctuate during the day. PS. Bars are better for investment purposes. Edited December 31, 2023 by fygjam 3 1 Link to comment Share on other sites More sharing options...
Glasseye Posted December 31, 2023 Share Posted December 31, 2023 If I were to give a gift of the heart it would be silver. The way I see it a gift of the heart is something that is intended as something that connects the people connecting the uniqueness of that particular relationship. I have given a nice piece of silver to someone (still good friends) in the past. At the time she questioned why it was not gold. I kind of expected that sort of response. I explained my reasoning. Over a period of time it sank in with her that the connection significance was the value, it was not a status symbol, and it was not a commodity to be traded or sold. --------------------------------- I just read a piece that mentioned gold prices just jumped to new record highs. Expectations on future U.S. interest rates has a big influence on gold prices. Now is not a good time to buy gold. 1 Link to comment Share on other sites More sharing options...
Zambo Posted December 31, 2023 Share Posted December 31, 2023 (edited) 1 Baht gold weight = 15.244g As mentioned gold prices are high just now. This is due to the intensity of the Israel-Hamas conflict driving up demand for the financial safe-haven of gold. Thunder367's girl possibly guesses that the Israel-Hamas conflict is not going to widen into a larger regional war, which would threaten world oil supplies, and in that case during the next couple of months the price for 1 Baht gold could fall from the current THB 34,500 to as low as say THB 26,000. (Of course any unexpected nuclear weapon flying from Iran towards downtown Tel Aviv would reverse that trend) If the 1 Baht gold is sold now and the gamble pays off then she could pocket around THB 8,000 and at the lower price a further amount could be added to trade up to a 2 Baht bracelet. This could all take a bit of time to play out so the girl is quite rightly asking if this is ok as the bracelet will be missing for a while waiting for the gold price to go down. Edited December 31, 2023 by Zambo Missed a word out Link to comment Share on other sites More sharing options...
Glasseye Posted December 31, 2023 Share Posted December 31, 2023 21 minutes ago, Zambo said: 1 Baht gold weight = 15.244g As mentioned gold prices are high just now. This is due to the intensity of the Israel-Hamas conflict driving up demand for the financial safe-haven of gold. Thunder367's girl possibly guesses that the Israel-Hamas is not going to widen into a larger regional conflict, which would threaten world oil supplies, and in that case during the next couple of months the price for 1 Baht gold could fall from the current THB 34,500 to as low as say THB 26,000. (Of course any unexpected nuclear weapon flying from Iran towards downtown Tel Aviv would reverse that trend) If the 1 Baht gold is sold now and the gamble pays off then she could pocket around THB 8,000 and at the lower price a further amount could be added to trade up to a 2 Baht bracelet. This could all take a bit of time to play out so the girl is quite rightly asking if this is ok as the bracelet will be missing for a while waiting for the gold price to go down. It's all speculative. Link to comment Share on other sites More sharing options...
Zambo Posted December 31, 2023 Share Posted December 31, 2023 (edited) 5 hours ago, Glasseye said: It's all speculative. Agreed, cannot be predicted (or we would all be rich) Here are another couple of opinions: https://www.channelnewsasia.com/business/gold-prices-surge-why-fed-rates-investment-all-time-high-3979536#:~:text=He instead attributed the increased,half of total global demand. https://www.bangkokpost.com/business/investment/2678918/gold-price-on-course-for-further-increases Edited December 31, 2023 by Zambo Added 2 links 1 Link to comment Share on other sites More sharing options...
thegrogmonster Posted December 31, 2023 Share Posted December 31, 2023 (edited) I don't claim to know all the details as I try to not get involved in my wife's financial dealings but from what I see she appears to save money and then with this she buys gold. When her friends are short of cash she gives them money in exchange for their gold. She once showed me a pile of gold jewellery she had and it was quite imressive. She must be doing OK as previously when she wanted things (cars, land, helping out family etc) I would lend her the money. These days she uses her gold to pay for these things. Recently she had to spend 160,000 baht for work done on her land in Pattaya and this was done by sending gold with one of friends going back to Thailand who then gave it to my wife's sister. The sister then sold it at a Gold shop to pay for the work done. Gold seems an easy way of building wealth for many Thais. Edited December 31, 2023 by thegrogmonster 2 Link to comment Share on other sites More sharing options...
Glasseye Posted January 1 Share Posted January 1 10 hours ago, thegrogmonster said: I don't claim to know all the details as I try to not get involved in my wife's financial dealings but from what I see she appears to save money and then with this she buys gold. When her friends are short of cash she gives them money in exchange for their gold. She once showed me a pile of gold jewellery she had and it was quite imressive. She must be doing OK as previously when she wanted things (cars, land, helping out family etc) I would lend her the money. These days she uses her gold to pay for these things. Recently she had to spend 160,000 baht for work done on her land in Pattaya and this was done by sending gold with one of friends going back to Thailand who then gave it to my wife's sister. The sister then sold it at a Gold shop to pay for the work done. Gold seems an easy way of building wealth for many Thais. Where do you live mate ? 🤪 1 Link to comment Share on other sites More sharing options...
thegrogmonster Posted January 1 Share Posted January 1 14 hours ago, Glasseye said: Where do you live mate ? 🤪 Send me your bank details and I'll let you know. Link to comment Share on other sites More sharing options...
Zambo Posted January 12 Share Posted January 12 Betting against gold still seems a bad position in the short term https://www.reuters.com/markets/commodities/gold-gains-dollar-dip-safe-haven-appeal-2024-01-12/ Link to comment Share on other sites More sharing options...
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