Where is the best place to buy gold bars without blockchain fees: Smart choices for gold shops

How to Think Correctly Before Investing in Gold

Before deciding to buy gold, the first question you should ask yourself is “What will I use this gold for?” Because this question will influence your choice of gold type and the store that best fits your goals.

For jewelry purchase: Choose gold jewelry from stores with diverse designs, but remember that the block fee will be an additional cost.

For long-term investment: 99.99% gold bars are a better choice. They help protect against inflation and have lower block fees than jewelry.

For short-term trading: Online gold trading services through various platforms are convenient, but you must be cautious of risks.

Important Information to Check Before Buying Gold Bars

1. Type of Gold

Each type of gold has different characteristics and prices:

• 99.99% pure gold (Very pure): More expensive, suitable for investment
• 96.5% gold (Standard purity): Cheaper but still good quality
• Gold jewelry (Gold ornaments): Includes block fees and labor costs, generally 90% or higher purity

2. Block fees, RAM charges, and transaction fees

This is often overlooked but very important for your profit:

• Block fee: The fee paid during trading, which can be up to 2-3% of the gold price
• **RAM (Labor) fee: Usually calculated based on weight for jewelry
• Storage fee: Some stores charge for storing gold if you leave it with them

3. Checking weight and quality

Before buying, verify the weight in front of both parties using a reliable scale. Ensure that:

• The warranty details are complete
• You can sell it back to the same store
• The weight matches your expectations

Top 10 Trustworthy and Investment-Ready Gold Shops

Number 1: Hua Seng Heng Gold Department Store - Veteran in Gold Trading

Founded before, with over 70 years of operation. Started with jewelry sales, now expanded to include 96.5% and 99.99% gold bars via online services.

Highlights:

• Member of the Thailand Gold Traders Association
• 5 branches in Bangkok and surrounding areas
• Offers Gold Futures trading on TFEX
• Real-time prices based on global market

Caution: Online transactions carry cyber risks. Always use official payment channels.

Number 2: Yawarat Gold Department Store - The Largest Network

Over 50 years in operation, with more than 350 branches nationwide, making it a convenient choice for most customers for both jewelry and bars.

Highlights:

• Largest number of branches in the country
• Prices referenced from the Gold Traders Association
• Full services from jewelry to bars
• Competitive pricing

Note: With many branches, service quality may vary. Choose reputable branches.

Number 3: Aurora Gold Shop - General Jewelry Expert

With over 40 years of experience, starting as goldsmiths before expanding to over 200 branches.

Services:

• Jewelry, diamonds, gemstones, and various precious stones
• Gold sheets and auspicious gold
• Aurora Gold app for online trading
• Prices aligned with industry standards

Note: Jewelry items tend to be priced higher if primarily for investment. Compare prices with other stores.

Number 4: Ausiris Gold - Pioneer in Gold Bar Investment

This company pioneered gold bar investment in Thailand, originating from an old gold shop in Phetchaburi (with nearly 160 years of history), now expanded to Bangkok.

Services:

• Buying and selling 96.5% and 99.99% gold bars
• Gold savings programs
• ETF gold trading on the stock exchange
• 24-hour online trading via website and app
• In-store jewelry services

Caution: Investing in gold bars and ETFs involves market volatility risks. Study and plan carefully.

Number 5: Mae Thong Sook (MTS Gold) - Complete Online Platform

Founded in 1952, over 60 years ago. MTS Gold now offers full online services.

Services include:

• Buying and selling gold bars and bullion via online platforms
• Trading TFEX derivatives
• 24-hour real-time trading system
• Analytical tools for investors

Warning: Derivatives trading is highly risky and can lead to significant losses. Study thoroughly before trading.

Number 6: TTK Gold Shop (Tao Khang) - Oldest Gold Shop

The oldest gold shop in Thailand, operating since the reign of King Rama V, over 160 years ago. The building features colonial architecture, 7 stories high, with a museum of ancient gold on the second floor.

TTK offers:

• Buying and selling jewelry and bars
• Prices referenced from the Thailand Gold Traders Association
• Over 30 branches nationwide
• Suitable for both investment and jewelry purchase

Note: Fewer branches than large stores; for convenience, consider online services.

Number 7: YLG Bullion Company - International Exporter

A manufacturer and exporter of gold jewelry and gemstones, recognized internationally for over 20 years.

Services:

• Buying and selling 99.99% and 96.5% gold bars
• Gold savings programs
• Jewelry sales
• TFEX brokerage services
• YLG Bullion Trading platform for online trading

Note: Fewer branches than competitors but comprehensive online services.

Number 8: Tong Bai Yawarat Gold Shop - Jewelry Specialist

An old gold shop on Yawarat Road, dedicated mainly to jewelry, diamonds, and gemstones.

Services:

• Buying, selling, and exchanging jewelry
• Manufacturing diamonds, gemstones, and precious stones
• Member of the Thailand Gold Traders Association
• 5 branches in Bangkok
• Prices based on industry standards

Tip: If investing in gold bars for accumulation, consider other stores.

Number 9: Jin Hwa Heng Gold Shop - Quality-Focused Goldsmith

Established in Yawarat since 1980, focusing on high-quality jewelry.

Highlights:

• Diverse jewelry designs
• Laser engraving for durable patterns
• Online sales via website and app
• Prices aligned with the Gold Traders Association

Caution: Few branches, mainly in central Bangkok, but online ordering available.

Number 10: Thana Kit Gold Department - Custom Jewelry Services

Originally a gold manufacturing factory, later became a retail jewelry store with over 40 years of service.

Advantages:

• Buying, selling, pawning, and gold consignment
• Custom-made items (e.g., religious amulets, lockets, name rings)
• Custom jewelry and gemstones
• Ideal for those seeking unique jewelry

Limitations: No gold savings or ETF investment services. Few branches but excellent for custom jewelry.

Investment Options for Gold in Two Scenarios

If you want to hold gold long-term (Long-Term)

Recommended: Hua Seng Heng, Yawarat, Ausiris Gold, Mae Thong Sook

Reasons:

• Lower block fees
• Gold bars or ETFs offer good long-term returns
• No depreciation as jewelry

If you want short-term trading for profit

Recommended: Ausiris Gold, Mae Thong Sook (MTS Gold), YLG Bullion

Reasons:

• 24-hour online trading platforms
• Ability to trade TFEX and derivatives
• No need to hold physical gold, no storage fees

Summary: 6 Key Points When Buying Gold Bars

1. Choose a reputable store: Must have a long history and be a member of the Thailand Gold Traders Association.

2. Check gold type: 96.5% or 99.99% gold bars yield different returns.

3. Ask about block fees, RAM, and other costs: To understand the true cost; some stores charge 2-3% for block fees.

4. Verify weight in front of the seller: Before and after purchase, using a trusted scale.

5. Keep the warranty card: Must have complete details for resale to the same store.

6. Resell to the same store: Ensures quality acceptance and good price.

With this knowledge, you can select gold bars that do not incur excessive block fees and obtain high-quality gold that protects against inflation in the long run with confidence.