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Thai Gold and Gold Price in Thailand
By Thai-Eyes | August 2, 2008
The Thai society is very status orientated.
Instead of putting their money aside,
Thai people like to show, what they have.
This is one of the reasons, why gold is very popular in Thailand.
Thai gold is yellower, than gold in the western world.
It has 23-24 carat with a degree of purity of 95 - 96,5 %.
The gauge for gold in Thailand is called “Baht”.
1 Baht Thaigold is equal to 15,16 gram.
The (Gold-) Baht is divided in 4 Salueng.
In the goldshops in Thailand there is always a board with the current goldprice.
This price is related to 1 Bath of Thaigold.
The current price for gold in Thailand in the Thai currency
There are many shops in Thailand selling gold.
You will recognize them easily with their red paint.
The goldshops are mostly conducted by Chinese or Thai-Chinese businessmen.
The shops are selling as well they are purchasing gold
and also function as a pawnshop for gold.
Photo: Thai Gold Shop in Chiang Mai - North Thailand, decorated for Chinese New Year
Frequently Thaipeople are buying gold from their salary
to sell it with lost the next days, because they are short of money.
This idiosyncrasy is a pretty good business for the goldtraders.
Topics: Gold Price in Thailand, Thailand |
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