Jump to content
BANGKOK

Recommended Posts

14 minutes ago, farangkinok said:

The spread varies with gold price volatility. Because of increased volatility (overnight price of gold shot up to $1980, then plunged to $1907/troy ounce), spread is currently up to 60 ฿ (see image). For current market, go to Hua Seng Heng web page https://www.huasengheng.com/

POG Hua Seng Heng.jpg

 

 

Obviously a different gold shop chain. I use the app below and the shop is always the same as the app. As I said never seen it lower than 100. Been at 100 for the 5 years I been using it except when people flocked to gold shops at start virus and spread went to 300, then down to 200 and now back to 100.

 

Interesting.

Screenshot 2020-07-28 at 5.57.35 pm.png

Screenshot 2020-07-28 at 5.58.33 pm.png

Share this post


Link to post
Share on other sites
5 hours ago, Henryford said:

If you bought in 2011 you are just about breaking even, with no annual returns.

I don't think that the cost of living in Thailand had doubled since then, do you?

 

Share this post


Link to post
Share on other sites

Useless New York not making any impulse waves. Neither up nor down.

 

Useless.

Share this post


Link to post
Share on other sites
15 minutes ago, Logosone said:

Useless New York not making any impulse waves. Neither up nor down.

 

Useless.

A pause might be welcome.

 

Not every asset is Tesla...after all...

 

  • Like 1
  • Haha 1

Share this post


Link to post
Share on other sites

It's the mountain peak effect isn't it? The closer you get to the summit the slower you walk. 

 

They managed to take it up to 1952, but it was not a spectacular impulse wave. Just little by little. Step by step.

 

What will Tokyo bring tomorrow? I bet they will cut it down.

Share this post


Link to post
Share on other sites

I have got a 152 gram Cartier Pasha in 18 carat gold. Should I hold to it ? 

Share this post


Link to post
Share on other sites
Posted (edited)
4 hours ago, Logosone said:

Useless New York not making any impulse waves. Neither up nor down.

 

Useless.

Thats good. A strong base has formed at 1796 with a moderate one at 1840 and a weak one at 1920. Gold needs to consolidate for a period above 1920 to form a better and stronger baseline.

 

At somepoint the cracks in markets and fragility of the financial and economic systems will reemerge then things will start to crash again, gold along with everything else. Im not sure of the timing but ive a feeling it could well be pre US election time, possibly Mid to late Sept. If not then not long after as its all unsustainable without continued further liquidity injections, its only a matter of time.

 

As a response the fed along with other central banks are going to reopen the QE floodgates and add liquidity like never before. Then gold silver etc will be off to the races. 

 

 

 

 

 

Edited by englishoak
  • Like 1

Share this post


Link to post
Share on other sites
6 hours ago, englishoak said:

Thats good. A strong base has formed at 1796 with a moderate one at 1840 and a weak one at 1920. Gold needs to consolidate for a period above 1920 to form a better and stronger baseline.

 

At somepoint the cracks in markets and fragility of the financial and economic systems will reemerge then things will start to crash again, gold along with everything else. Im not sure of the timing but ive a feeling it could well be pre US election time, possibly Mid to late Sept. If not then not long after as its all unsustainable without continued further liquidity injections, its only a matter of time.

 

As a response the fed along with other central banks are going to reopen the QE floodgates and add liquidity like never before. Then gold silver etc will be off to the races. 

 

 

 

 

 

That's a good point, there could be a bit of consolidation in the 1905-1965 range before 2000 is on the radar.

 

Whilst the US did the slow and steady climb yesterday Tokyo just shot an impulse up but not huge and we'll have to see if they don't correct downwards as well.

 

On the 15m chart an abc correction seems to be forming which would indicate a down move again. But looked like that many times and it just went up. On 4 hour chart the a wave would have just started and a b-wave up should come. Normally longer timeframe trumps short.

Share this post


Link to post
Share on other sites
6 hours ago, englishoak said:

 

As a response the fed along with other central banks are going to reopen the QE floodgates and add liquidity like never before. Then gold silver etc will be off to the races. 

 

On this one I support the Democrats...the bigger the relief package (under negotiation), the worse it is for the dollar, and the better for gold.

 

One can guess that both sides will reach an agreement somewhere between 1.5 and 2 trillions, sending the 2020 deficit over 4 trillions, the fed's balance sheet closer to 10 trillions, and gold...

Share this post


Link to post
Share on other sites
Posted (edited)

For months Gold USD was like a comfort cruise on a triple carriage motorway. You just had to go long and you win.

 

Now trading Gold has become like driving against traffic in Bangkok rush hour. You don't know what's coming around the corner.

 

Looks like it will go long then big red candles going down.

 

You want to go long, because it's still a bullish trend, the economies are still suffering, Covid19 wave 2 on the way etc etc.

 

But then you know so many have huge Gold positions and are trigger happy nervous now as 1980 has been reached and nobody knows if it will go past 2000. And corrections have started. So to them it would make sense to cash in now and secure a great price, in the absence of knowledge if a post 2000 Gold price is on the cards any time soon.

 

 

Edited by Logosone

Share this post


Link to post
Share on other sites
1 hour ago, Logosone said:

 

But then you know so many have huge Gold positions and are trigger happy nervous now as 1980 has been reached and nobody knows if it will go past 2000. And corrections have started. So to them it would make sense to cash in now and secure a great price, in the absence of knowledge if a post 2000 Gold price is on the cards any time soon.

 

 

They could cash in, but then to buy what?

 

Highly overpriced stocks and bonds?

 

  • Like 1

Share this post


Link to post
Share on other sites
18 minutes ago, Brunolem said:

They could cash in, but then to buy what?

 

Highly overpriced stocks and bonds?

 

Some people are cashing in, look what Gold USD is doing, fakeout to 1960 now dropped to 1949.

 

If the big players do cash in it would have to be to preserve capital. Out of fear a correction downwards is coming.

 

You're right though, that would not make a lot of sense, I doubt they would do that. They'll try to go for the big pay day.

 

But so many people cashing in and going short right now. The beautiful uptrend, for now, is on holiday. But for how long is the question.

Share this post


Link to post
Share on other sites
3 hours ago, Logosone said:

 

But so many people cashing in and going short right now. The beautiful uptrend, for now, is on holiday. But for how long is the question.

Funny how people are going short on gold after a very short run, but not on stocks like Tesla and others, whose nosebleed valuation should attract a lot of attention from shortsellers...

 

Compared to Tesla, Moderna and others, gold is super cheap.

 

This is from David Stockman:

 

Tesla is now valued at nearly $300 billion, or 12 times its profitless sales, 310 times it’s meager cash flow of $1 billion, and more than the $225 billion value of Ford, GM, Fiat-Chrysler, BMW, Volkswagen, Nissan, and Peugeot, combined.

Amazon, is now valued at $1.5 trillion, or 153 times net income and 83 times free cash flow.

Moderna weighed in at $29.6 billion of market cap on a mere $52 million of sales (mostly government grants) and a $500 million trailing-12-month loss – and, yes, with more than a dozen major competitors in the phony race for a COVID-19 vaccine.

  • Thanks 1

Share this post


Link to post
Share on other sites

This is very bullish for gold, but not for Thailand I am afraid... 

 

(Air Power is an Australian defence analyst) 

 

AirPower last week contacted major defence to strategists around the world to undertake a “risk assessment” of military conflict between China and the US. They rate conflict in the next 12 months as “likely”; over the next two years as “highly likely” and over the next three years as “almost certain”.

Share this post


Link to post
Share on other sites
Posted (edited)
43 minutes ago, Brunolem said:

This is very bullish for gold, but not for Thailand I am afraid... 

 

(Air Power is an Australian defence analyst) 

 

AirPower last week contacted major defence to strategists around the world to undertake a “risk assessment” of military conflict between China and the US. They rate conflict in the next 12 months as “likely”; over the next two years as “highly likely” and over the next three years as “almost certain”.

Thank you!

 

Yes it looks like bullish is still the way to go. After all it is a massive uptrend still for Gold USD looking at the longer timeframes. The thing is part of the reason why Gold went sky-high is the USD weakness. And many have been predicting a recovery of the USD for a while. It is probably unlikely the dollar will keep falling in a straight line. When the dollar corrects upward a bit that will bring Gold down.

 

But it's really choppy now, a nightmare to trade. I guess so many jumped on the gold bandwagon that a lot of jittery fellows are selling out of fear 2000 won't be reached. That and the fear that USD might get a bit stronger again.

 

 

Edited by Logosone

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...