Old Project Avalon Forum (ARCHIVE) - View Single Post - Why Gold Is Dropping When It Shouldn't (by Alex Wallenwein)

eugene_vn · 10-23-2008, 01:40 PM

Where I live in Vietnam, gold plays a similar role to what Shokdee describes in Thailand. Gold shops are everywhere selling in units from 0.12 ounces (this is called a "chi" in Vietnamese) up to 1.2 oz. bars.

Seriously, anyone wishing to acquire a moderate amount of gold might just want to travel to Southeast Asia for vacation and buy some gold. I believe anyone can walk out of Vietnam carrying $10,000 in gold, no questions asked.

Gold here sells for around 10% over the international spot price (currently it's around $105 per chi), just because after years of warfare people have have learned to distrust paper currency and thus they are willing to pay a premium for "real money".

So, you could easily fly out of the country with 12-13 ounces. Once you factor in the planet ticket, you've probably spent 20-25% above spot price for your purchase. But then again, a net price of $900 per ounce may seem very small by 2010.

10-23-2008, 01:40 PM	#19
eugene_vn Avalon Senior Member Join Date: Sep 2008 Posts: 31	Re: Why Gold Is Dropping When It Shouldn't (by Alex Wallenwein) Where I live in Vietnam, gold plays a similar role to what Shokdee describes in Thailand. Gold shops are everywhere selling in units from 0.12 ounces (this is called a "chi" in Vietnamese) up to 1.2 oz. bars. Seriously, anyone wishing to acquire a moderate amount of gold might just want to travel to Southeast Asia for vacation and buy some gold. I believe anyone can walk out of Vietnam carrying $10,000 in gold, no questions asked. Gold here sells for around 10% over the international spot price (currently it's around $105 per chi), just because after years of warfare people have have learned to distrust paper currency and thus they are willing to pay a premium for "real money". So, you could easily fly out of the country with 12-13 ounces. Once you factor in the planet ticket, you've probably spent 20-25% above spot price for your purchase. But then again, a net price of $900 per ounce may seem very small by 2010.