In Reply to: buying gold in Bali posted by AnotherFirstTimer on Tuesday, 5. April 2005 at 22:20 Bali Time:
Good selection of gold jewellery in Jln Hasanuddin Denpasar.
There is a row of shops selling chains, rings, stones,pendants etc.
The articles have tags on them listing the weight and what carat they are.
To judge what the gold price is for that day ask at different shops along the street what the price per gram is in rupiah for the different carats.
You can then chose which shop has the best price and pieces you like.
Most jewellery is sold as 14kt, 18kt or 22kt or as a percentage on the tag
On the jewellery item 18kt is listed at that or as 70% (which is actually only nearly 17kt)
22kt is listed as 89% and some at 82.5% (20 kt).
I have bought earings, rings and pendants.
There are not many larger size rings and those that were there, were plain gold bands.
Take your calculator to calculate the price of the article (ie..price per kt in rupiah x grams of article)
Some shops will also negotiate a small discount if you ask.
To calculate the proper Gold price for the day:
1.Find out the gold price for the day per ounce in USD from internet, paper or local paper (Bali Post).
2.Find exchange rate for AUD/USD (if you are Australian)
3.Calculate AUD per ounce
4.Find out the carat or % of gold in the article you want to purchase.
5.Multiply the % of gold in the article by the AUD gold price.
NB: Number of grams in an ounce = 31.10348
6. Which then = the Aud price
or just ask each shop what their gold price is for the day for the particular percentage & go with the cheapest &/or compare with the above.
*Earings, rings and pendants purchased from Denpasar.*
(Sorry not a good scanning job. The green/pink colouring on items is from the scanning only)
http://www.geocities.com/mbalipic/gold.html