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Gold in Thailand Trivia Quiz

Did you know that Thailand has a unique and prosperous gold industry? Try this quiz to test your knowledge about this fascinating market.

A multiple-choice quiz by nw1. Estimated time: 5 mins.

Author
nw1

Time
5 mins

Type
Multiple Choice

Quiz #
209,466

Updated
Dec 03 21

# Qns
10

Difficulty
Tough

Avg Score
6 / 10

Plays
577

One at a Time - Single Page - Timed Game

Question 1 of 10

1. Who can buy Thai gold? Hint

Thai citizens only

Anyone, but only through a licenced dealer

Anyone, but only after registering as a trader

Anyone who has the money

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Question 2 of 10

2. What is the usual purity of Thai gold? Hint

9ct

23 ct

14ct

18ct

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Question 3 of 10

3. Thai gold has a different colour to 'western' 18ct gold. What colour best describes it? Hint

pink

coppery

silver

yellow

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Question 4 of 10

4. What is one big attraction of Thai gold for citizens? Hint

it can be melted into ingots on a gas stove

it can be simply traded for cash at any gold store

it will always go up in value

gold is worshipped as a sacred metal

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Question 5 of 10

5. How is the price for gold in Thailand set? Hint

by local market forces, similar to gasoline

monthly rate set by a central committee

daily calculation by using the global gold spot price

by the government in Bangkok

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Question 6 of 10

6. Although there are exceptions, who controls most retail gold stores in Thailand? Hint

pawnbrokers

multinational mining companies

the Thai Govt Dept of Natural Resources

Thai-Chinese

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Question 7 of 10

7. Why won't you see much Thai gold sold out of the country? Hint

hardly anyone other than Thais buy it

jewellers in the west can't value it properly

the WTO embargoes trade in Asian precious metals

it is technically illegal to export gold from Thailand

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Question 8 of 10

8. A devout Thai will often be seen with what attached to their gold chain? Hint

a Buddhist amulet

an enamelled portrait of the King

an ivory elephant

entwined gold serpents

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Question 9 of 10

9. What is the standard measure of weight used in the Thai gold market? Hint

the troy ounce

the baht

the carat

the gram

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Question 10 of 10

10. Approximately how many retail gold shops are there in Thailand? Hint

500

6000

1200

3500

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Quiz Answer Key and Fun Facts

1. Who can buy Thai gold?

Answer: Anyone who has the money

Thailand has one of the more open gold markets in the world. Any person, locals, tourists etc can simply buy jewellery by weight. Not even a passport is required!

2. What is the usual purity of Thai gold?

Answer: 23 ct

That's right, its 23ct or 96.5% pure. Alloys, (usually silver and bronze), are only added to increase the strength and durability of jewellery pieces.

3. Thai gold has a different colour to 'western' 18ct gold. What colour best describes it?

Answer: yellow

When visitors first see a piece of Thai gold, they often believe it to be brass. This is because it's not the colour of the less pure gold we're used to in the west. Once you've accepted the fact that this is the 'real' colour of gold - just try convincing your friends!

4. What is one big attraction of Thai gold for citizens?

Answer: it can be simply traded for cash at any gold store

It's just a matter of taking your gold into any gold store, (preferably the one you bought it from), and with a minimum of fuss, it will be bought back for cash - no questions asked.

5. How is the price for gold in Thailand set?

Answer: daily calculation by using the global gold spot price

Each morning the gold stores will post their buy and sell prices in the front window. When selling a piece of jewellery, the shop will also charge a small 'making fee' depending on the complexity of the design. This is negotiable, but the spot price is not. But think about it - you are buying 23ct gold jewellery by weight. This is unheard of in the retail jewellery trade in the west!

6. Although there are exceptions, who controls most retail gold stores in Thailand?

Answer: Thai-Chinese

You only have to take a trip to Chinatown in Bangkok to see some of the oldest and most respected gold stores in the country, controlled by established local Chinese families.

7. Why won't you see much Thai gold sold out of the country?

Answer: it is technically illegal to export gold from Thailand

There is no problem for a visitor to take their piece(s) of gold jewellery home with them, however there is a law against exporting it on a commercial basis. Despite this, it can be sourced from traders in the west; albeit at a higher price.

8. A devout Thai will often be seen with what attached to their gold chain?

Answer: a Buddhist amulet

Amulets should be worn in odd numbers only. In other words, 1 is lucky, 2 is not, 3 is lucky and 4 is not etc etc.

9. What is the standard measure of weight used in the Thai gold market?

Answer: the baht

Umm, not the easiest of questions. Yes the Thai baht is ALSO the unit of currency. However, in the gold business, a baht = 15.244grams.

10. Approximately how many retail gold shops are there in Thailand?

Answer: 6000

Yep, that's a lot of gold shops! Usually they are easy to spot with their colour scheme of fire engine red, and the rear walls of the shop festooned with hundreds of gold chains.

Source: Author nw1

This quiz was reviewed by FunTrivia editor ozzz2002 before going online.
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