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BANGKOK 19 July 2019 03:13
mania

Price of Gold in USD moving right along

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Since finally getting past the years of being range bound 1200-1250 USD

seems gold is doing quite well these last few weeks

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Gold has been a very Poor investment..Cardiac Arrest for at least 5 Years if not longer..

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It depends on who you listen to. Rickards says it is going to $10000USD. Dent says $700USD. Both could be wrong of course.

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I bought 30 baht of Thai gold when it was down at 18,500 baht a few months ago. Selling next week.

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2 hours ago, GreasyFingers said:

It depends on who you listen to. Rickards says it is going to $10000USD. Dent says $700USD. Both could be wrong of course.

Yes, and Jim Sinclair says 50.000 USD!

 

https://usawatchdog.com/jim-sinclair-50000-gold-us-dollar-collapse-hyperinflation-and-more/

 

- and I´ve read that his business partner - Bill Holter - says 170.000 USD, when the world will look like Venezuela now.. I hope we don´t get there.

 

 

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4 hours ago, wilailuk said:

Gold is not an investment, it´s insurance for the future when the whole fake FED/CB world blows up in pieces, then we will see the true value of gold.

 

 

 

 

 

Value of gold? You cant eat or drink it.  There is no intrinsic value in shiny metal apart from what other fans of shiny metal are prepared to pay for it. No different to sea shells in other cultures. Probably will make more money in drinking water in the not too distant future, as that is what wars will be fought over.

If gold works for you - go for it.

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12 hours ago, Lacessit said:

I bought 30 baht of Thai gold when it was down at 18,500 baht a few months ago. Selling next week.

I am buying... 

 

Now is certainly not the time to sell... 

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9 hours ago, emptypockets said:

Value of gold? You cant eat or drink it.  There is no intrinsic value in shiny metal apart from what other fans of shiny metal are prepared to pay for it. 

Just have a look at how fiat currencies have performed against gold in the past hundred years, and especially since 1971...

 

Gold is a store of value. 

 

I would rather find a crate full of one thousand year old gold coins, than a crate full of one hundred year old paper money or government bonds, which I would gladly leave to you... 

 

Finally, isn't it strange that the authorities that create paper money need to support it by lowering interest rates to zero and below, while at the same time regularly smashing down (a.k.a. manipulating) the price of gold? 

 

It would seem that there are quite a few fans of shiny metals, starting with the Russian and Chinese central banks... 

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12 hours ago, wilailuk said:

Yes, and Jim Sinclair says 50.000 USD!

 

https://usawatchdog.com/jim-sinclair-50000-gold-us-dollar-collapse-hyperinflation-and-more/

 

- and I´ve read that his business partner - Bill Holter - says 170.000 USD, when the world will look like Venezuela now.. I hope we don´t get there.

 

 

I hadn’t read Sinclair for years.  He’s always been an ultra-bull on gold but in the decade leading up to the 2008 financial crisis he called gold’s price action about as accurately as anyone.  Do you happen to know what he was saying as gold was approaching $2000 a few years ago, did he tell people to sell?

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Posted (edited)
10 hours ago, emptypockets said:

Value of gold? You cant eat or drink it.  There is no intrinsic value in shiny metal apart from what other fans of shiny metal are prepared to pay for it. No different to sea shells in other cultures. Probably will make more money in drinking water in the not too distant future, as that is what wars will be fought over.

If gold works for you - go for it.

Everything has its place. If you were lost in the desert, severely dehydrated, and you came upon a small spring, a plastic bottle would be as important as a wad of cash.

 

For centuries the silver/gold ratio value was between 10 and 20. In other words it cost 10/20 kilos of silver to buy a kilo of gold. Now that ration is getting on to be 100. In the east, gold is traded by the average person. Virtually all Thai families have some gold; either at home or in hock at the gold shop. Indian people hold something like 5% of the world's supply.

 

I recommend buying small denominations of silver coins as well as chunky gold chains. When the crash comes, each link might be worth a sack of salt or rice.

Edited by owl sees all
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Posted (edited)
15 minutes ago, owl sees all said:

Everything has its place. If you were lost in the desert, severely dehydrated, and you came upon a small spring, a plastic bottle would be as important as a wad of cash.

 

For centuries the silver/gold ratio value was between 10 and 20. In other words it cost 10/20 kilos of silver to buy a kilo of gold. Now that ration is getting on to be 100. In the east, gold is traded by the average person. Virtually all Thai families have some gold; either at home or in hock at the gold shop. Indian people hold something like 5% of the world's supply.

 

I recommend buying small denominations of silver coins as well as chunky gold chains. When the crash comes, each link might be worth a sack of salt or rice.

Thais and Indians liking to buy gold isn't a very persuasive testimonial.

 

One thing that gold has going for it right now is that the Trump administration wants to devalue the dollar and they probably will succeed.

Edited by suzannegoh

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16 hours ago, wilailuk said:

Gold is not an investment, it´s insurance for the future when the whole fake FED/CB world blows up in pieces, then we will see the true value of gold.

 

 

 

 

 

Gold is to money like horses are to transportation

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