Yaowarat, Deputy Minister of Commerce warns of "fake gold" and recommends checking clearly before buying-selling. Avoid buying gold through online channels. Check the purity of gold according to GIT recommendations. Buy from certified shops. Gold Traders Association Revealed that this year the price of gold has risen to 4,100 baht. Mr. Naphinthorn Srisanpang, Deputy Minister of Commerce Lead officials from the Department of Internal Trade Officials of the Gem and Jewelry Institute of Research and Development (GIT) and the Secretariat of Consumer Protection (OCPB) visited gold shop operators on Yaowarat Road. which is a member of the Gold Traders Association To check quality and gold standards gold scale standards including correct product labels and clearly posting the price of gold, gold jewelry, and gratuities To build confidence for the people Mr. Naphinthorn said that at present the price of gold has begun to increase continuously. Currently, it is over 37,500 baht per baht, which is causing fraudsters to including some online stores Use this opportunity to trick and sell "fake gold" in various forms such as grade A gold, micron gold, cloned gold, stuffed gold, and gold jewelry. By introducing new techniques It is used to make fake gold as close to real gold as possible. and cannot be checked with the naked eye Including the use of small inspection tools. This affects stores that buy gold, pawn shops, as well as causing consumers to be worried about buying gold. especially gold bars Whether it meets the standard or not In the past, there have been complaints of fraudulent trading of 'fake gold' both in gold bars and gold jewelry in 2023, rising to more than 1,600 cases. Therefore, to build confidence for consumers in purchasing gold. Therefore, it has been assigned to GIT, which is the central agency responsible for inspecting the purity of precious metals. and check the purity of the gold both gold bars and gold jewelry Accelerate to build confidence among consumers Passed inspection standards and issued a quality certificate from GIT to those interested before buying - selling by integrating with government agencies that have gained confidence. Ready to warn consumers when buying gold to check the origin of the gold carefully. Avoid buying gold Through online channels with prices lower than the market It is recommended to buy from a gold shop that has a clear location and clearly announces the price fluctuations of gold. The symbol that must be noted every time is the Gold Traders Association member sign (current year), it will help to have another level of confidence or stores that have the symbol in the Buy With Confidence project through GIT certification, also known as the Buy With Confidence project. (BWC) Mr. Sumet Prasongphongchai, Director of GIT, added that Most Thai people buy gold and collect it as an asset. By purchasing gold in the form of gold jewelry and gold bars from reliable gold shops. However, Before buying gold, you must consider it carefully. Because nowadays, criminals have various me thods. Many are used to deceive consumers. Including shops with specific expertise Therefore, before purchasing, consider and notice the gold or gold jewelry Whether there is a logo for the store you choose to buy or not Are there stamped numbers indicating the purity standard of the gold that is stamped or not, such as Gold 965? Also, various details must be noted. Includes additional details such as weight, size, and various joints. However, these counterfeit gold inspections, if they are a gold shop It uses filing into the gold. To check to see if there is stuffing or not. But if it's a gold bar, it might be wrapped thickly. Filing cannot be verified. In addition, with this method, citizens and general consumers Including small inspection laboratories that may not be able to inspect. Moreover, nowadays new elements are being introduced. mixed with gold such as rhenium and tungsten, which cannot be analyzed using basic techniques such as acid drops, burning, or using small X-Ray tools. If you want clear in spection results It is recommended to have it checked with GIT as it is the national gem and jewelry testing laboratory. with advanced tools that can be clearly verified As in this case You can also check whether it is real gold or fake gold. ultrasonic waves which does not destroy the workpiece Mr. Udom Srisomsong, Deputy Director-General of the Department of Internal Trade Said that according to the Act on Prices of Goods and Services, B.E. 2542, an announcement was issued requiring gold traders to clearly display signs showing the retail price, the price of gold bars, gold jewelry, and gratuities, as well as requiring gold shops We must use a scale that meets standards certified by the Department of Internal Trade in accordance with the Weights and Measures Act so that consumers can compare prices and create fairness for consumers. If you do not receive fairness in purchasing gold in terms of price and quantity of goods or services, you can complain to the Department of Internal Trade hotline 1569 or Prov incial Commerce Offices throughout the country. There will be an investigation to ensure fairness and if found If you commit an offense, strict legal action will be taken. In the case of not posting price signs, there will be a fine of not more than 10,000 baht. In the case of selling products at an unreasonably high price, or hoarding products or refusing to sell them, you will be punished with imprisonment not exceeding seven years or a fine not exceeding 140,000 baht or both Or in the case of using a scale without certification from the Department of Internal Trade, there is a penalty. Imprisonment not exceeding six months or a fine not exceeding 20,000 baht, or both. In the case of tampering with the components of a scale at the temple, there is a punishment of imprisonment not exceeding 7 years or a fine not exceeding 280,000 baht. Mr. Jitti Tangsitphakdee Mr. Gold Traders Association said that from January 1 until today (March 22), the price of gold has increased by 4,100 baht, or 12%, the highest it h as ever been. In addition to interest factors, geopolitics The value of the baht has weakened. Analysts estimate that central banks of each country purchase gold to store it. As a result, the price of gold continues to move up. However, it is seen that gold has a chance to rise further. It is seen that gold bars have a chance of reaching 38,000 baht soon, which means there will still be people gradually coming to buy gold. If buying for short-term speculation May have to be careful Because the price of gold is rising sharply, there may be a time to take a break. As for the problem of counterfeit gold, the Gold Traders Association Has coordinated with relevant agencies Cooperate in the inspection and urge association members to be more careful. There are currently no issues found in member stores. Ready to leave a message to the public, if you are thinking of buying or selling at a gold shop, come and buy at a real gold shop, do not buy online where there is a chance of falling prey to scammers. Source: Tha i News Agency