Gold at all-time high

[Brunolem 7,186]

22 hours ago, jimgilly said:

 

I'm going to hold on to my bars because in the long term the price will continue to keep making new highs.  How high it can go is anyone's guess but I wouldn't be surprised if it hits 50,000 baht in the future.

 

 

Same for me. 

 

It's not so much about how high gold can rise, but rather how deep all the debased currencies can fall. 

 

There is so much (fake) paper money sloshing around that it has been calculated by some that gold should already be at $ 10,000 an ounce to reflect the real situation. 

 

Since a lot more currency printing is in order (that's the only trick our leaders and their central banks know), more people are going to wake up and realize where this is leading...and will act accordingly... 

Edited July 27, 2020 by Brunolem

[warcy 343]

23 hours ago, jimgilly said:

Bought a number of 5 baht bars 5 years ago at 18,450 baht.  I knew they manipulate the prices, like everything else, and expected it would be 5 years or more before there would be a breakout. 

 

I also expect they will still continue to drive the price down but that game is coming to an end.  Physical delivery is now being requested so the naked paper short sales are becoming ineffective.

 

I'm going to hold on to my bars because in the long term the price will continue to keep making new highs.  How high it can go is anyone's guess but I wouldn't be surprised if it hits 50,000 baht in the future.

 

My wife has about 10 baht in jewelry but for an investment you really need to buy bars if you got the money.  Maybe wait for a pull back but even if you buy now and hold, you will come out ahead in the long run.

 

I heard they take a 5% cut for gold jewelry? How about gold bars, how many percentage do they deduct?

 

Where did you buy your 1 baht gold bar?

 

[Brunolem 7,186]

45 minutes ago, warcy said:

 

I heard they take a 5% cut for gold jewelry? How about gold bars, how many percentage do they deduct?

 

Where did you buy your 1 baht gold bar?

 

For jewelry they cut 1,000 baht, more or less.

 

For bars, it is much less, between 100 and 200 baht.

 

Bars can be bought in most gold shops.

[Dazinoz 1,229]

58 minutes ago, warcy said:

 

I heard they take a 5% cut for gold jewelry? How about gold bars, how many percentage do they deduct?

 

Where did you buy your 1 baht gold bar?

 

I buy/sell my gold bars at a gold shop in Warorot Market. The spread is back down to 100 baht/baht now. The shop I use does not charge any commission on 5 baht bars or higher. Less than 5 baht bars they charge 200baht/baht. 

[alien365 899]

Gold prices will continue to increase until I buy some. Thats the way things normally work

[toolpush 645]

Remember that Thai Gold bars are generally 96.5% purity whereas most other investment grade gold bars are a minimum of 99.9% with some at 99.99% purity.

[Dazinoz 1,229]

On 7/25/2020 at 4:40 PM, warcy said:

I read the news that the gold is at all-time high and I am planning to sell my gold.

 

Is this a good time to sell or do I wait a few more months?

 

Do I sell the gold in Chiang Mai or Bangkok? or the prices are the same?

 

Note that this is jewellery gold and not gold bars.

Every gold shop I have been to sells buys bars at the published price. Some charge different on commission. My ex used to love changing her jewellery and I think there maybe a bigger difference in jewellery prices between stores. There is still a published price but I think commission varies a lot more.

 

As far as I know prices same in Chiang Mai and Bangkok.

 

I have 32 baht of bars and as of gold prices as of today i am up 311,000 baht on what I paid, but personally I am not selling yet.

[Dazinoz 1,229]

7 minutes ago, toolpush said:

Remember that Thai Gold bars are generally 96.5% purity whereas most other investment grade gold bars are a minimum of 99.9% with some at 99.99% purity.

We are talking about Thai gold which is 96.5%.

 

I wanted to sell some/all of my Thai gold bars and buy 99.99% to take back to Oz.  Tried a couple shops.....no have.

 

Doing this you have to be careful you buy the gold bars, tablets, coins approved by the LBMA or can be difficult to sell in Oz, and I guess other countries too.

[Dazinoz 1,229]

21 minutes ago, alien365 said:

Gold prices will continue to increase until I buy some. Thats the way things normally work

Normally par for the course for me but have done reasonably well on gold and silver.

 

If a new share offer was coming on the market guys would come to me and ask if I am going to buy any. I would say no and they would ask are you certain. I would say yes, I am not buying. Their reply would be "ok, good I will buy then".

[Brunolem 7,186]

31 minutes ago, alien365 said:

Gold prices will continue to increase until I buy some. Thats the way things normally work

Then don't buy...at least wait a few years...

[Brunolem 7,186]

24 minutes ago, Dazinoz said:

 

I wanted to sell some/all of my Thai gold bars and buy 99.99% to take back to Oz.  Tried a couple shops.....no have.

 

MTB in Bangkok has 99.99% gold bars.

 

Ausiris also, but they are imported from Switzerland, and thus sold with a premium.

 

[Paiman 1,841]

I would keep commodities for now. 

 

There are people with money, but not trusting the markets (rightfully), so investing in Gold, Silver and some others. 

 

Bitcoin is above 10000 US$ again, but I don't know enough to invest. For me this would be more a gamble. Before the halving I bought some Bitcoin index trackers, but sold them now again. 

 

See what the US election brings in regards to future investing.

[Kurtf 656]

Gold prices are cyclical. Typically rising throughout the summer, peaking in the winter months. Sell at any gold shop. The ones with a large red facade. They pay a fair price if the gold you sell is in ingot form. I don't know about jewelry form.

[kingstonkid 2,485]

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.

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.

 

[caribou1 6]

Will probably get some pullback to 1875-1915, or possibly 1815. And then a run at 2000