Dante99 2952 Posted July 27, 2020 Share Posted July 27, 2020 10 minutes ago, kingstonkid said: Dante I think you may be wrong. Right now is not the time to sell gold if anything it is a time to buy. With everything happening in the world stock markets are going to crash. The Chinese US and all other economies are in trouble and gold is going to be king. Contrary to what you think, I gave no recommendation to buy or sell. I really do not think that you or anybody can give usefull financial advice without knowing a lot about the person receiving the advice, their financial situation and risk attitudes. For all you know the OP is just interested in selling 10 ounces or less to pay for his child's college fees in which case selling is most likely a fine idea. Try to tell me to buy gold now and I will tell you that you are full of <deleted>. Because you would be if giving me such advice. Link to post Share on other sites
rocket3rider 188 Posted July 27, 2020 Share Posted July 27, 2020 Irrespective of how economies are trending, the speculators will determine which way it goes. Everything is cyclical. Link to post Share on other sites
Popular Post allanos 1213 Posted July 27, 2020 Popular Post Share Posted July 27, 2020 Only in devalued dollar term is it at all time high, not in Thai Baht Correct. If adjusted for inflation since the last ATH, gold has yet to take it out. However, a bull run is about to start, or at least get into its stride. The next psychological level to cross is $ 2000.00, and then, probably, $ 2500.00. If the US ever tried to return to the gold standard, using what is stored in Fort Knox and New York, gold would have to rise to something like $ 50 000.00 per ounce. Extremely unlikely that this will ever happen, but we are in strange times, and the future may be even stranger. Personally, I hold Krugerrands, and am in it for the long haul. Digital gold, in the form of BTC, is also a low-ish risk/ high reward play currently. 2 1 Link to post Share on other sites
AverageBloke 201 Posted July 27, 2020 Share Posted July 27, 2020 Gold is usually kept as a hedge against inflation but many people also turn to gold in times of economic uncertainty. I would never suggest what anyone else should do but I'm sticking solid and reloading on the pullbacks. 2 Link to post Share on other sites
Popular Post jimgilly 85 Posted July 27, 2020 Popular Post Share Posted July 27, 2020 56 minutes ago, Dante99 said: Contrary to what you think, I gave no recommendation to buy or sell. I really do not think that you or anybody can give usefull financial advice without knowing a lot about the person receiving the advice, their financial situation and risk attitudes. For all you know the OP is just interested in selling 10 ounces or less to pay for his child's college fees in which case selling is most likely a fine idea. Try to tell me to buy gold now and I will tell you that you are full of <deleted>. Because you would be if giving me such advice. Spoken by a guy who probably can't afford 1 baht worth and is angry about it. If someone wants to give their opinion on this, that's there choice to do so and everyone can decide whether to take it or not. Like I said prices will fluctuate but the long term trend should and I believe will be up. While they can print all the fiat money they want (until no one wants it) there is only a limited amount of physical gold in the world. Simple case of supply/demand and how the financial world works. 3 1 Link to post Share on other sites
NightSky 1627 Posted July 27, 2020 Share Posted July 27, 2020 (edited) How about this idea... Sell all the gold jewelry and invest the proceeds in renting bunch of fit and young pattaya under 26 year old ladies to navigate the boat and ...ahem. Fly them and yourself to one of the Islands and rent a yacht for a week. Don't forget 6 bottles of vodka and lemon and 2 crates of Leos for the ladies etc etc... Create some fond memories... ...those were the days. Edited July 27, 2020 by NightSky Link to post Share on other sites
Bill97 1443 Posted July 27, 2020 Share Posted July 27, 2020 28 minutes ago, jimgilly said: Like I said prices will fluctuate but the long term trend should and I believe will be up. While they can print all the fiat money they want (until no one wants it) there is only a limited amount of physical gold in the world. Simple case of supply/demand and how the financial world works. So what can you add? That situation is about 50 years old. Link to post Share on other sites
1FinickyOne 8063 Posted July 27, 2020 Share Posted July 27, 2020 you can sell some now and hold some... investing is full of daily decisions... best is to sell it where you bought it... Link to post Share on other sites
jimgilly 85 Posted July 27, 2020 Share Posted July 27, 2020 4 hours ago, Bill97 said: So what can you add? That situation is about 50 years old. I made a very basic opinion of what I thought so what do I need to add? Maybe you have some valuable information you could share with the rest of us, so let's hear what you have to say. Link to post Share on other sites
farangkinok 34 Posted July 27, 2020 Share Posted July 27, 2020 (edited) Best place to buy and sell gold is Hua Seng Heng ฮั่วเซ่งเฮง https://www.huasengheng.com/ Spread between buy and sell at Hua Seng Heng is 50 ฿ per Baht weight of 0.965 purity instead of the published Association spread of 100 ฿. Currently you can sell gold bars for 28,800 ฿ per Baht weight (0.965 purity) and buy for 28,850 ฿. There are different price structures for 0.965 jewelry and 0.9999 purity gold bars. They have a number of locations. I believe the main one is on Yaowarat Rd. in Chinatown (in Bangkok). They have an excellent reputation for honesty and fairness. I can't tell you which way the price of gold will go. You're on your own where that is concerned. Edited July 27, 2020 by farangkinok added "in Bangkok" for clarification 1 Link to post Share on other sites
Meat Pie 47 2139 Posted July 27, 2020 Share Posted July 27, 2020 On 7/26/2020 at 3:44 PM, pineapple01 said: Good News my Tooth is now worth something. it's a pity I don't have any teeth left 2 Link to post Share on other sites
david555 6095 Posted July 27, 2020 Share Posted July 27, 2020 Just now on Bloomberg ticker All heavy metals up & in the green ....Gold Silver ..Platinium & Palladium ! 1 Link to post Share on other sites
Susco 7055 Posted July 27, 2020 Share Posted July 27, 2020 Just now, david555 said: Just now on Bloomberg ticker All heavy metals up & in the green ....Gold Silver ..Platinium & Palladium ! Of course, because the dollar is falling Link to post Share on other sites
david555 6095 Posted July 27, 2020 Share Posted July 27, 2020 (edited) 13 minutes ago, Susco said: Of course, because the dollar is fallin3g Even alluminium...zinc ...tin ....should i go sell my cooking pots....? Even my Euro stands back over 37 to the Thai baht coming from 35.xxx I hope Trump does not go nuke China...... to save the "greenback" Edited July 27, 2020 by david555 Link to post Share on other sites
Dante99 2952 Posted July 28, 2020 Share Posted July 28, 2020 13 hours ago, jimgilly said: Spoken by a guy who probably can't afford 1 baht worth and is angry about it It never ceases to amaze how many incorrect assumptions posters make on this forum. It is no wonder so many get into pickles given their jump to the wrong conclusion mentality. Good luck Jim, hope you have better luck judging investments than you do people. Link to post Share on other sites
kingdong 5504 Posted July 28, 2020 Share Posted July 28, 2020 (edited) sell your gold and buy guns,there may be trouble ahead... Edited July 28, 2020 by kingdong Link to post Share on other sites
Trujillo 2556 Posted July 28, 2020 Share Posted July 28, 2020 BTC at 11,170.... Link to post Share on other sites
Brunolem 7664 Posted July 28, 2020 Share Posted July 28, 2020 32 minutes ago, kingdong said: sell your gold and buy guns,there may be trouble ahead... You're probably gonna need both... Link to post Share on other sites
Henryford 5597 Posted July 28, 2020 Share Posted July 28, 2020 19 hours ago, khwaibah said: Bought 10 baht bars in 2006 @ about 10,250 baht. They are in a bank safety box. The bank will have sold them by now and replaced with tungston. Link to post Share on other sites
Popular Post cooked 6100 Posted July 28, 2020 Popular Post Share Posted July 28, 2020 On 7/25/2020 at 5:48 PM, Dante99 said: And the financial wizzards of the Chiang Mai Forum will come to the rescue with their infinite knowledge about how to time the market. Chiang Mai has a dirth of multimillionaries who have become wealthy trading the gold market so are qualified to provide advice. Do let us know how many kilos you want to unload so that appropriate buyers can be recommended, CM or Bkk. Pay no attention to the posters who say do not sell, they have no idea of what your financial situation is or why you choose to sell now. Without such knowledge, spouting advice is foolish. I paid ฿16 000 when I first started buying and now it is nearly double that. I buy every year after rice harvest. As soon as somebody starts talking about how stupid people are for buying gold, I have to chuckle. 3 Link to post Share on other sites
Matzzon 13668 Posted July 28, 2020 Share Posted July 28, 2020 Yes, now is the perfect time to sell. Everyone that has had a belief in a never ending high, has always lost money. Ok, you might lose a bit if it goes up a few baht more. However, it will surely go down so you stand with a win anyway. When low again you buckle up and buy. That´s the only way, and the way of the professionals to trade and make money. Link to post Share on other sites
Dazinoz 1422 Posted July 28, 2020 Share Posted July 28, 2020 9 hours ago, farangkinok said: Spread between buy and sell at Hua Seng Heng is 50 ฿ per Baht weight of 0.965 purity I use a Thai app that shows the buy and sell prices of bar and jewellery through out Thailand. I check the prices daily and have never seen a spread as low as 50 baht in the last 5 years, it has always been 100 but recently when people were selling when the virus hit it went to 300 but back to 100 now. Can you show where there is a 50 baht spread? Not saying it isn't or hasn't been I am just curious as to where. Link to post Share on other sites
Bill97 1443 Posted July 28, 2020 Share Posted July 28, 2020 42 minutes ago, cooked said: I paid ฿16 000 when I first started buying and now it is nearly double that. I buy every year after rice harvest. As soon as somebody starts talking about how stupid people are for buying gold, I have to chuckle. Never said buying or owning was a bad idea. Your investment approach is wise, buy once a year at the same time. No trying to time the market and you get price averaging. You are an investor not a trader. Good way to do it. Link to post Share on other sites
Brunolem 7664 Posted July 28, 2020 Share Posted July 28, 2020 Gold futures just hit $ 2,000... Link to post Share on other sites
Brunolem 7664 Posted July 28, 2020 Share Posted July 28, 2020 On 7/26/2020 at 2:31 PM, jimgilly said: Physical delivery is now being requested so the naked paper short sales are becoming ineffective. Are you saying that, for example, the BIS (head of the central banking cartel) cannot drop anymore a hundred tons of (fake) paper gold on the market to crush the price? Link to post Share on other sites
Logosone 7124 Posted July 28, 2020 Share Posted July 28, 2020 The Gold/US price went past 1980 in the Tokyo session. It is virtually certain it will pass 2000 as London and NY are still to come. I will not be surprised if Gold goes beyond 2000, however, as the psychological 2000 barrier approaches some shorting may happen. To say gold is bullish right now is the understatement of the year. That's only short term though. Gold, a no-income producing asset is ideal for zero interest environments. However as inflation rises and interest rates go up Gold will lose value. Like all bubbles, this one will end too. 1 Link to post Share on other sites
Popular Post englishoak 9641 Posted July 28, 2020 Popular Post Share Posted July 28, 2020 4 minutes ago, Logosone said: The Gold/US price went past 1980 in the Tokyo session. It is virtually certain it will pass 2000 as London and NY are still to come. I will not be surprised if Gold goes beyond 2000, however, as the psychological 2000 barrier approaches some shorting may happen. To say gold is bullish right now is the understatement of the year. That's only short term though. Gold, a no-income producing asset is ideal for zero interest environments. However as inflation rises and interest rates go up Gold will lose value. Like all bubbles, this one will end too. Gold as a no income producing asset is 33% up so far this year, it needs to consolidate for a while imo probably bounce around the 2k mark before it either overshoots or pulls back, I hope it pulls back. Silver is on fire too atm, 100% + gains from the lows this year so far and bitcoin just passed 11.5k .. all this QE has to go somewhere. Far as interest rates rising I just dont see it for the foreseeable future, the more they stimulate the harder it will become. The global economic system is awash with liquidity and its hard to see any gov taking the pain of a collapse willingly, so they will print more,more, more.. Much further for the bull to run yet would be my guess the next few years. 4 1 Link to post Share on other sites
Logosone 7124 Posted July 28, 2020 Share Posted July 28, 2020 2 minutes ago, englishoak said: Gold as a no income producing asset is 33% up so far this year, it needs to consolidate for a while imo probably bounce around the 2k mark before it either overshoots or pulls back, I hope it pulls back. Silver is on fire too atm, 100% + gains from the lows this year so far and bitcoin just passed 11.5k .. all this QE has to go somewhere. Far as interest rates rising I just dont see it for the foreseeable future, the more they stimulate the harder it will become. The global economic system is awash with liquidity and its hard to see any gov taking the pain of a collapse willingly, so they will print more,more, more.. Much further for the bull to run yet would be my guess the next few years. I actually think the bull run will go on for a while as well. The thing about pumping money into economies: You simply cannot cancel interest rates, pump untold amounts of new money into a seized-up economy and expect it not to create inflation. It always has and it always will. QE did create inflation. It created it in stocks and real estate and many periphery assets like art, wine, watches, hypercars. Your low inflation rate is fake data, just like so much information today. https://www.forbes.com/sites/investor/2020/06/10/will-there-be-deflation-or-inflation-in-the-post-coronavirus-world/#5fa921a6f189 It's that argument about deflation or inflation. Many, including Goldman Sachs, think inflation will come. 1 Link to post Share on other sites
Logosone 7124 Posted July 28, 2020 Share Posted July 28, 2020 Monster fall as we speak, down from 1980 to 1935. 1 Link to post Share on other sites
englishoak 9641 Posted July 28, 2020 Share Posted July 28, 2020 11 minutes ago, Logosone said: Monster fall as we speak, down from 1980 to 1935. Good, moving from 1901 to 1980 in 24hrs was getting hot. its back up over 1940 again though. Link to post Share on other sites
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