Step out from the hotel onto bustling Yaowarat Road and you will invariably encounter a brilliantly red-painted shop selling gold jewelry. “Yaowarat” means ‘avenue of gold’ and the neighborhood is home to over 130 gold shops. Gold sellers are among the earliest merchants in Bangkok’s Chinatown, and while there are plenty of places to buy gold in the city, most locals prefer the shops on Yaowarat Road.
Thai gold is famous for its high purity — 96.5% or 23 carats. Thai gold is measured in baht (although it is the same word as the Thai currency, they do not mean the same thing or carry the same value). 1 Baht of gold is equivalent to 15.244 grams in raw bullion or 15.16 grams. Gold can also be measured in salung. One salung is a quarter of a baht, or 3.81 grams of raw bullion. Gold merchants will typically share the weight of the piece in baht or salung, and then quote a price based on the latest value of gold posted by the Thai Gold Traders Association. Almost all gold merchants buy and sell gold. Thai gold an excellent investment; many Thai use their extra cash to buy gold as a way of investing or saving money. When the price of gold is low, folks will buy; when it is high, many sell and pocket their earnings. It’s a little like investing in the stock market, although by all accounts, gold is a more stable investment.
So, where to go? It is estimated that at least 90% of gold sold in Thailand is only 90-92% pure. If you are looking for purity, do your homework. Hua Seng Heng and Tang To Kang are two of the oldest and most reputable shops on Yaowarat Road — recognized for the purity of gold and their excellent craftsmanship. Started by the Pasawongse family, Hua Seng Heng opened its doors in the mid-1900s. Tang To Kang was founded by Chinese immigrant Tohkang Saetang in 1880. During the reign of King Rama IV, Tang To Kang was the only gold shop in Samphaeng to be granted the Royal Garuda seal in 1921.
Tang To Kang is located on Yaowarat Road at Soi Wanit and Mangkorn Road, a short stroll from Shanghai Mansion. Tel: +66 2 224 2422
Hua Seng Heng is located at 401-407 Yaowarat Road, about two blocks north of Shanghai Mansion. Tel: +66 2 225 0202
