IRL:Gold/Fineness

Here's a comparison of gold fineness in Thailand and elsewhere:

Fineness:

• Thailand: 96.5% pure gold, also known as 23 karat (kt) gold.
• Everywhere else: 99.95% pure gold, also known as 24 karat (kt) gold, used for spot gold pricing.

Difference:

• Thailand: 3.5% of the metal is not gold, typically alloys like copper or silver. This affects the color, hardness, and value compared to pure gold.
• Everywhere else: Essentially pure gold, with minimal impurities, resulting in a softer, deeper yellow color and higher value.

Reasons for different fineness:

• Thailand: Traditionally preferred a more reddish and slightly harder gold for jewelry due to cultural and practical reasons. Alloys also help strengthen the metal for intricate designs.
• Everywhere else: 24 kt gold is seen as the purest and most valuable form for investment and financial purposes.

Things to consider:

• Buying:
  • Thailand: Lower price per weight due to lower gold content.
  • Everywhere else: Higher price per weight due to higher purity.
• Selling:
  • Thailand: May be harder to sell outside Thailand due to less common fineness. Price might reflect lower purity.
  • Everywhere else: Widely accepted, but price might be adjusted for purity if not 24 kt.
• Use:
  • Thailand: Suitable for jewelry due to hardness and cultural preference.
  • Everywhere else: Best for investment and financial purposes due to high purity and global acceptance.

Ultimately, the choice depends on your purpose and needs:

• For jewelry: Consider both cultural preference, design requirements, and budget.
• For investment: 24 kt gold elsewhere might be a better choice for global acceptance and potentially higher value.

Remember, always purchase gold from reputable dealers and be aware of the current market price for the specific fineness you choose.