Thai Gold

Thai Gold is sold everywhere in Thailand in Gold Shops in the form of jewelry. There are thousands of these shops throughout the country and for the most part they are all identical in physical appearance. They are red inside and out, with large glass windows so you can see in, a counter that runs the lenght of the shop, very bright lights and mirrors that help reflect the glitter of the gold. The price is normally posted on the door as you enter. Also the wares contained therein are almost the same throughout the country.

The prices are standardized throughout the country with everyone have the same price. These prices are based on the gold market and not the artistic work that goes into the piece. Frankly, I can't figure out how they compete for customers, as everything is identical even though there are several brand names. Is there someone who controls it all? I don't know, I'm not in that loop. Maybe people just grow up using their neighborhood shop and stick with them through their lives. I asked my wife about this, but she had no idea as she never had any gold before I came along so didn't worry about such things.

These shops also buy gold. Several days ago as I drafted this, one baht weight of gold sold for 14,550 baht, and could be sold back to the shop for 14, 450 baht. Gold sold in these shops are 96.5% pure gold or about 23 karats. One baht weight of gold is 15.2 grams or just a hair over half an ounce. If I did my math correctly.

Gold jewelry is used as a means of savings/investment and in certain parts of the country to display ones wealth. People buy gold, normally only wearing it on rare occasions then selling it in a time of need or when the price is higher than when they bought.

Also, In Thailand the ancient dowry system is alive and well. Only reversed, from the way I had always imagined it to be. I always read in books, about the girl having a dowry in place to help the future husband. No so in Thailand, here the future husband pays the dowry to the bride's family. A portion of this is normally paid in the form of gold jewelery. Not only does the groom present gold to the mother and father, but to the bride was well. Before a wedding, normally the parents of the bride and groom have a meeting and negotiate this. As with all negotiations, one party starts high, the other low and everyone hopes to settle somewhere in the middle.

I was lucky when I married as the gold price was about 7,500 per baht. My friend Dennis who is to be married on Monday has to content with today's prices. Gold is high but he's getting a lovely wife. It's all worth it.

Note: The word baht has two meanings, in Thailand. It is a weight measure and the value of their money which is currently about 31.5 baht per U. S. Dollar. Nine years go when I decided to livee in Thailand it was 40+ per dollar. Where has the dollar gone George ?