This is the ultimate guide to buying gold chains in Bangkok, Thailand. Some of the questions we are discussing are:
- Why is Bangkok a popular destination for gold purchases?
- What are the popular places to buy gold chains in Bangkok?
- What should you look at when you go to buy a gold chain?
- How you can test the purity of your gold chain in Bangkok?
- How to sell your gold chain in Bangkok?
So lets dive in..
WHY IS BANGKOK A POPULAR DESTINATION FOR GOLD PURCHASES?
Whether you are buying it as an investment or indulging yourself or your loved one, Gold is one precious metal that has increased in value over time and Bangkok has become a popular choice for locals and travelers to make their gold purchases.
There are two reasons for it:
- Price – Thai Gold is measured in Baht unit. 1 baht = 15.2 grams of gold Price Thai Gold is measured in “BAHT” unit. 1 Baht = 15.2 grams. Gold prices in Bangkok are competitive and cheaper than in most other Asian and western countries. The reason is that the labour charges to make jewelry is lower than in most other countries.
- Quality – The quality of gold in Bangkok is also better with a bright yellow color and purity of up to 24karat
POPULAR PLACES TO BUY A GOLD CHAIN IN BANGKOK
China Town: Bangkok’s China Town or Yaoworat is another popular destination for those in search of gold chains. You’ll find several shops and street-side vendors selling gold jewelry, including chains. China Town is easily accessible by MRT, you get down at Wat Makhong Station and then it’s a 3-5 minute walk to the shops.
MBK Center: Everything under one roof, the MBK Center has a wide range of gold jewelry shops located in its Gold and Jewelry Zone comprising of almost 60 shops on its 3rd Floor in Zone A where you can find a wide range of gold chains to satisfy your needs. https://mbk-center.co.th/mbkmbcool/zone_detail.php?b=729. MBK is easily accessible by MRT from National Stadium Station or by BTS by getting down at Siam Station and a short walk.
Big C and Lotus’s : Most Big C and Lotuses supermarkets will house at least one gold shop that sells various types of gold chains like Aurora Jewelry, Oriental Jewelry, Golden 99, Modern Gold. You can check the locations and gold shops on their online website or walk into any of the big Big C’s and Lotus’s.
Sukhumvit : If you are looking for a gold chain shop in downtown Bangkok or the heart of Bangkok then Sukhumvit is the place to be. Liang Seng Heng is a gold chain shop situated at Sukhumvit Soi 10. This is easy to get to this shop by MRT (Sukhumvit) and BTS (Asoke). They have a decent selection of gold chains.
**These images are from the MTS Website. All rights to these images belong to them.
Big Gold Trading Companies : If you are looking at a more reputable and bigger organization to buy your gold chains you can look at MTS Gold. They trade in gold and is a listed companies on the stock exchange. They have stores that you can walk into in Wongwian Yai, Central Pinklao, MTS Plus Building, Central Mahachai and Central Westgate (retail branches) as well as an online presence.
Silom: Silom is Bangkok’s Gem District. From the Jewelry Trade Center (JTC) to the street side shops, Silom is home to several shops selling gold jewelry including beautiful gold chains. Silom is accessible by BTS (Saphan Taksin) or Boat (Saphan Taksin) or by taxi
SHOPPING MALLS : For those looking for a more upscale shopping experience, Bangkok’s high-end shopping malls are home to a number of luxury jewelry shops, including some of the top names in the industry like Cartier, Bulgari, etc. You’ll find a range of gold chains, from delicate and simple pieces to elaborate and statement-making designs. Malls like Siam Paragon, Emquartier, Central Chidlom, and Central World contain stand-alone luxury brand stores as well as kiosks in their department stores. These malls are easily accessible by BTS.
WHAT TO LOOK FOR WHEN YOU ARE BUYING A GOLD CHAIN?
1. QUALITY
Most gold shops will have gold chains from 14karat up to 23karat. This measures how pure the gold is. You can get 24karat gold chain that is made with 100% gold. But that will be too soft. The 14karat chain will be the strongest but it will have only 58.3% pure gold, the rest would be silver, copper, etc. Normally people prefer gold chains made in 18karat gold or 22karat gold.
The easiest way to know the quality or purity of the chain is by the certificate provided by the seller or the hallmark stamp or purity stamp on the gold chain (clasp). The stamp would read 14k or 585, 18k or 765, 23k or 965. Always ask for a receipt and/ or certificate from the gold shop.
2. PRICE
Most gold shops will have prices displayed per gram in their shop. This price can change almost 3 times a day. You can check the current price of gold on this website http://goldpricez.com/th/24k/gram or Gold Traders Association website: https://www.goldtraders.or.th/
Remember the gold shop will charge you gold price plus a nominal making charge incurred to make that chain. Making charges varies across different shops and can be negotiated. Buy from a proper shop and refrain from buying from the street or a tout who pressurizes you to go with them to a gold shop/jewelry shop. Firmly say no, thank you. And WALK AWAY.
IS THERE A WAY TO TEST OUT THE PURITY OF MY GOLD CHAIN?
If you want to check the purity of your existing gold chain and want to know which alloys are mixed along with the gold and its percentage, you can go to shops that use machines like the Fischerscope Xray Xan 110 that can scan the chain and analyze its metal composition.
There are shops in Bangrak, Silom that can test the gold chain and various points and print out the composition of the metal. You pay a nominal fee for this service.
CAN YOU SELL BACK THE GOLD CHAIN YOU BOUGHT IN BANGKOK?
If you want to resell the gold chain you bought in Bangkok you can do one of two things:
SELL BACK AT ORIGINAL SELLERS SHOP: If you wish to re-sell your gold chain, you will most likely get the best return price at the shop where you originally purchased it. This is because the shop will have its own hallmark/receipt and will know the quality of gold they have used in the making of that chain and most likely give you the best re-sell value minus some nominal charges.
SELL BACK AT ANOTHER GOLD SHOP: It is highly suggested by many to take your gold chain to any of the gold shops in China Town. The prices are competitive there as there are many gold shops there, the prices are displayed on the storefront (buying and selling), and once the quality of gold is determined by the shop staff, the process is fairly quick as the chain will be weighed and you will be paid as per the current market value of gold. Most gold shops across bangkok will be willing to buy your gold chain, but they may choose not to.
In conclusion, Bangkok is a great place to purchase gold chains. With its diverse selection of options, you’re sure to find the perfect piece to complete your look. From high-end shopping malls to street-side shops, Bangkok offers a wide range of options to suit any budget and style.
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Related
As a seasoned expert and enthusiast in the realm of buying gold chains in Bangkok, Thailand, I bring forth a wealth of firsthand knowledge and a profound understanding of the intricate details that define this market. Having extensively explored the gold markets in Bangkok and delved into the dynamics that make it a coveted destination for gold purchases, I am well-equipped to guide you through the nuances of this process.
Bangkok's Allure for Gold Purchases: Bangkok has emerged as a prime hub for gold enthusiasts, drawing both locals and travelers. The city's popularity in the gold trade is underpinned by two key factors: competitive pricing and exceptional quality. Thai gold, measured in Baht units, is remarkably affordable, with prices often lower than those in many other Asian and Western countries. The lower labor charges for crafting jewelry contribute to this cost advantage. Additionally, the gold's quality in Bangkok stands out, characterized by a vibrant yellow color and purity that can reach up to 24 karats.
Popular Gold Chain Shopping Destinations in Bangkok:
- China Town (Yaoworat): Renowned for its diverse offerings, China Town boasts numerous shops and street vendors specializing in gold jewelry, including chains.
- MBK Center: A one-stop destination with a Gold and Jewelry Zone housing around 60 shops on its 3rd Floor in Zone A, offering a wide array of gold chains.
- Big C and Lotus's Supermarkets: Many of these supermarkets feature gold shops with various gold chain options, such as Aurora Jewelry, Oriental Jewelry, Golden 99, and Modern Gold.
- Sukhumvit: Located in downtown Bangkok, Sukhumvit is home to Liang Seng Heng, a notable gold chain shop easily accessible by MRT (Sukhumvit) and BTS (Asoke).
- Big Gold Trading Companies (e.g., MTS Gold): Reputable organizations like MTS Gold, listed on the stock exchange, provide a reliable option for those seeking larger and more established gold chain suppliers.
- Silom (Gem District): Silom, known as Bangkok's Gem District, hosts various shops, from the Jewelry Trade Center to street-side establishments, offering beautiful gold chains.
- Shopping Malls (e.g., Siam Paragon, Emquartier, Central Chidlom, Central World): Upscale malls house luxury jewelry shops, including renowned brands like Cartier and Bulgari, presenting a diverse range of gold chains.
What to Consider When Buying a Gold Chain:
- Quality: Evaluate the karat rating (14k to 23k) to determine purity. Look for a hallmark stamp on the gold chain or a certificate provided by the seller.
- Price: Monitor gold prices, which can fluctuate, and be aware of the nominal making charge added by the gold shop. Negotiate making charges and refrain from buying from unverified sources.
Testing Purity and Selling Back:
- Testing Purity: Shops equipped with machines like the Fischerscope Xray Xan 110 in areas like Bangrak and Silom can analyze the metal composition of your gold chain for a nominal fee.
- Reselling: Consider reselling at the original seller's shop for potentially better returns, or explore competitive prices in China Town, where numerous gold shops operate.
In conclusion, Bangkok offers a rich tapestry of gold chain options, catering to diverse preferences and budgets. From street-side vendors to high-end malls, the city provides a comprehensive gold shopping experience.
