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Is it worth buying USD?


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3 hours ago, davidst01 said:

In your experience, do you think its a good time to buy USD cash and hold it as speculation? What about the gbp?

David old boy, I have no real experience to speak of. I was guided every step and missed heartbeat of the way by a team at ANZ in Singapore. Since I got a regular heartbeat back once I stopped doing that I have not given it a second thought! I must refrain from giving advice on a subject I am clueless on... I was just sharing how scary the whole experience was...

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9 hours ago, jojothai said:

Yes the baht is too strong  but so is the usd.

Currencies are very difficult for me or you to judge. The experts have a hard time making calls.

The IMF said 2 days ago that the USD is 6 to 12% too strong.

A lot of talk in the markets that USD should fall.

IMHO usd could fall about 5 to 6 % soon.

That is likely to push the baht higher in the short term. So best to wait.

If you switched after say a 5% further rise, then you balance the risk of a further baht rise against the gain when the baht peaks and goes into a downtrend. That has to happen at some point and many people hope it happens soon.

 

Some contrarians say the euro is due to rebound. It looks possible.

GBP is undervalued but too risky due brexit.

Switching currencies can be costly. Consider the costs if you are resident here and may need the money in baht later.

 

There is another option here in thailand that you could consider, to buy gold. The spread buy to sell is very small. In theory if usd falls gold will go up and likely match any rise in the baht. Then when the baht falls the gold price here in baht should go up.

But gold has other risks for price movement. Currently very bullish but that could change, so if the money is savings that you dont want to see rising and falling then dont buy it.

However, depending on your financial circumstances many financial advisers say its a good idea to have some of your assets in gold as insurance if their is major crisis.

From my experience advisers tend to suggest about 5% of assets.

I am only suggesting that you look at this as an option. Its down to individual circumstances.

If you have a thai wife she may love the idea of holding some gold.

Mine was very happy when i bought some.

 

I am not a financial adviser.

I do hold some physical gold here as above. With trump in power, who knows what will happen next.

 

"....With trump in power, who knows what will happen next...."  And all the 'experts'  informed us/pushed their personal financial 'belief' that the US markets would tumble with a Trump 'win'.  You are on point with the latter of your statement....who knows what will happen next.....

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Buy Thai gold and when you desire to sell, sell in Thailand.   

Gold is on a run now and is up from $1,300 to $1430 in the USA in just a few months and is at the highest point in many years with more gains coming soon.   

USA dollar is fiat currency is not backed by anything...try exchanging for your dollars for gold...ha ha.   

Trump is no dummy and is intent on crashing the US Federal Reserve to stop this nonsense going on...remember that the Federal Reserve is not part of the USA technically and is not federal and has no reserves.   

Very likely that a new currency is underway which will be backed by precious metals likely and when that happens, the dollar will lose value rapidly I believe.

Jim Sinclair, the ultimate gold guru, says gold is going to $87,000/ounce.   You think he is crazy right...hopefully he will be 10% correct at least and gold will go to $8,700/ounce...won't that make folks happy...except for those who are only into cash.  ????

I traded gold and silver in 2002-2004 when gold was at $300/ounce and silver at $7/ounce.   

I built my house here in Thailand with my silver earnings.

FORGET CURRENCIES WHICH ARE NOT BACKED UP BY ANYTHING = FIAT MONEY.

 

 

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8 hours ago, KOZMO said:

Don't like the Thai Gold, not the same as International. If you want Gold, buy 24 K,  cause had some friends buy 

 

Thai Gold and went to sell in the U S.  They lost money on the Thai Gold !!!

I was referring to gold bars not jewelry. However some people buy the jewelry for investment.

Thai gold jewelry often does have a purity of 96.5% gold, which I understand is equivalent to 23 karat.

Yes, buy the good grade not cheaper grades.

 

7 hours ago, Lacessit said:

That's because Thai gold is not bullion quality. It is 96.5% gold, not 99.99%.

Your friends were dumb. Thai gold should only be bought and sold in Thailand.

Yes precisely buy and sell here.

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9 hours ago, Pinot said:

You can't really effectively manage currency exchange. By the time you make a move the currency has already moved. This is what forex money trading is all about and it's difficult to make money that way. I'd say don't waste your time. Very few people can time the market...really, no one can. 

 

And Lacessit above me here, buying gold is always speculation. My opinion is your crazy to own gold. 

I buy gold low, and sell it high. Been doing it for years. If that makes me crazy, it's like a fox.

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2 hours ago, johnnysunshine said:

Buy Thai gold and when you desire to sell, sell in Thailand.   

Gold is on a run now and is up from $1,300 to $1430 in the USA in just a few months and is at the highest point in many years with more gains coming soon.   

USA dollar is fiat currency is not backed by anything...try exchanging for your dollars for gold...ha ha.   

Trump is no dummy and is intent on crashing the US Federal Reserve to stop this nonsense going on...remember that the Federal Reserve is not part of the USA technically and is not federal and has no reserves.   

Very likely that a new currency is underway which will be backed by precious metals likely and when that happens, the dollar will lose value rapidly I believe.

Jim Sinclair, the ultimate gold guru, says gold is going to $87,000/ounce.   You think he is crazy right...hopefully he will be 10% correct at least and gold will go to $8,700/ounce...won't that make folks happy...except for those who are only into cash.  ????

I traded gold and silver in 2002-2004 when gold was at $300/ounce and silver at $7/ounce.   

I built my house here in Thailand with my silver earnings.

FORGET CURRENCIES WHICH ARE NOT BACKED UP BY ANYTHING = FIAT MONEY.

 

 

I bought gold certificates at perth mint may last yr. Now its up 17%. very happy. will hold until its in a bubble and offload. hope it goes to at least 10% of jims prediction

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22 hours ago, KOZMO said:

Don't like the Thai Gold, not the same as International. If you want Gold, buy 24 K,  cause had some friends buy 

 

Thai Gold and went to sell in the U S.  They lost money on the Thai Gold !!!

It would be very helpful to know exactly why your friend lost money on Thai gold. Whether 24k or less, a certain amount of it is gold and the price should reflect this.

 

Pure gold is good for maintaining large bullion assets but bad for jewelry, too soft. Likewise gold jewelry is valued and traded in Asia more easily than cash is since it is universally recognized and otherwise all but untraceable.

 

I like Thai gold as a way to easily keep liquid assets in Thailand outside the control of banks and unknown to any AUTHORITIES. The ability to quickly buy and sell here without any records is a huge advantage in my American eyes as America is the true LOS: Land of Scrutiny.

 

Once ownership is on record, anywhere, your gold is always easy pickings for domestic or foreign governments or lawyers. That said, where you secure it should be solely under your own control and totally unknown to any other party besides yourself of course.

 

Transporting gold across borders is fraught with financial and legal difficulties and best avoided IMO.

 

Gold is never an investment, as others have said. But aside from food, water, and air it is the single best hedge against financial chaos and hard times.

Any well-managed portfolio that doesn't have some precious metals is incomplete.

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14 hours ago, ToS2014 said:

"....With trump in power, who knows what will happen next...."  And all the 'experts'  informed us/pushed their personal financial 'belief' that the US markets would tumble with a Trump 'win'.  You are on point with the latter of your statement....who knows what will happen next.....

That is precisely why it is wise to diversify assets and precious metals have certainly been a primary asset class for millenia.

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On 7/18/2019 at 10:27 AM, CharlieH said:

MOVED to Banking/finance forum

I would think the currency to buy at the moment is Pound Stirling.

At the moment it's 38.54B/£. It will increase when out of the EU.  Not much room for the Doller to increase against the Baat unless the Baat goes down.

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Do you really think the pound will go up especially if there is a no deal brexit?

I would think the currency to buy at the moment is Pound Stirling.
At the moment it's 38.54B/£. It will increase when out of the EU.  Not much room for the Doller to increase against the Baat unless the Baat goes down.


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