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16 hours ago, stouricks said:

Since when was 28000 double 16000?

Since when did you not understand the word 'nearly'? It probably will be double soon enough.

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On 7/28/2020 at 11:15 AM, Snow Leopard said:

People do not understand that any government currency printing has to get its value from the currency already in existence and this folks is our savings and what we have worked hard for getting devalued and the difference goes to the banks and companies that have first dibs on bringing it into existence. This pushes asset prices way to high so that normal people cant afford them. Commonly known as wealth transfer. 

our savings that don't get interest like before,  in a bank CD .    not easy getting old.............

 

no interest.     prices double .     

 

 

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Posted (edited)
15 hours ago, Brunolem said:

Careful...this price is for the 99.99% gold, which is not the standard in Thailand.

 

The 28,000 baht were for the 96.5%...which have become 29,000 baht since then...

 

This is not usually strictly true.

 

I am too lazy to type it all out but basically everywhere else in the world this is automatically adjusted.

 

Meaning for instance...

A Canadian Maple 1 0z round is 24-karat/.9999 dimension is 30 mm/2.80 mm

 

A Krugerrand 1 oz round is  22-karat/.9167 dimension is 32.77 mm/2.84 mm

 

If you were to weigh these two 1 ounce rounds you would see the Krug is slightly heavier

That is because all once ounce gold products are adjusted to all have 1 ounce of pure gold in the end.

 

I "assume" Thai bars are the same but cannot guarantee it as I do not deal in Thai baht bars. But I would believe so as they

use the same world spot price scale to value

 

Here is one simple article explaining it...

https://schiffgold.com/faq/22-karat-gold-coin-contain-ounce-gold/

Edited by meechai

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26 minutes ago, meechai said:

 

This is not usually strictly true.

 

I am too lazy to type it all out but basically everywhere else in the world this is automatically adjusted.

 

Meaning for instance...

A Canadian Maple 1 0z round is 24-karat/.9999 dimension is 30 mm/2.80 mm

 

A Krugerrand 1 oz round is  22-karat/.9167 dimension is 32.77 mm/2.84 mm

 

If you were to weigh these two 1 ounce rounds you would see the Krug is slightly heavier

That is because all once ounce gold products are adjusted to all have 1 ounce of pure gold in the end.

 

I "assume" Thai bars are the same but cannot guarantee it as I do not deal in Thai baht bars. But I would believe so as they

use the same world spot price scale to value

 

Here is one simple article explaining it...

https://schiffgold.com/faq/22-karat-gold-coin-contain-ounce-gold/

Thai gold jewellery AND bars are 96.5% pure gold. 1 baht weighs 15.244 grams but is 14.71046 grams of 99.99% gold which the price is based on and is adjusted to world prices taking into account currency exchange rates.

 

If you follow post back what Brunolem said was 100% true.

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No impulse wave in all of London.

 

It looks like Gold may correct downwards a bit further in the short term. Unless New York has an ace up its sleeve.

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10 hours ago, rumak said:

our savings that don't get interest like before,  in a bank CD .    not easy getting old.............

 

no interest.     prices double .     

 

 

Exactly. I read the other day that Jeff Bezos made $13 Billion in one day because an analyst at Goldman Sachs re-evaluated his forecast on Amazon and the stock jumped. Utter nonsense. I really don't know how much longer this will go on. 

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42 minutes ago, Logosone said:

No impulse wave in all of London.

 

It looks like Gold may correct downwards a bit further in the short term. Unless New York has an ace up its sleeve.

The price moves with the dollar valuation, in case you didn't notice yet.

 

Dollar goes lower, gold price goes up, and vice versa

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On 7/28/2020 at 9:03 AM, Dazinoz said:

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.

Went to gold shop yesterday evening ahead of the Fed announcement. The place was mobbed. Had to wait in line for about an hour. Sold some bars for 29000 ฿ per Baht. It's been a powerful run, but the round number $2000 per troy ounce for spot gold should be a strong, if temporary, resistance. Hoping to buy back the bars for 27000-28000 ฿ per Baht.      

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26 minutes ago, Snow Leopard said:

Exactly. I read the other day that Jeff Bezos made $13 Billion in one day because an analyst at Goldman Sachs re-evaluated his forecast on Amazon and the stock jumped. Utter nonsense. I really don't know how much longer this will go on. 

Well,  when someone can organize around 6 billion people to stand up and put an end to this

nonsense.............. i will be right there !!   number 6 billion and 1   

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24 minutes ago, Snow Leopard said:

Exactly. I read the other day that Jeff Bezos made $13 Billion in one day because an analyst at Goldman Sachs re-evaluated his forecast on Amazon and the stock jumped. Utter nonsense. I really don't know how much longer this will go on. 

 

It are the idiots investing on the stock market that drive the prices.

 

Look at the US stock market. There is no economy in the world that is in so much distress as the US one, yet Nasdaq reaches new record highs every day.

 

Hertz which went bankrupt, but increased by 800% in 3 days when they offered new shares AFTER they declared bankruptcy

 

Kodak, you know the company that went almost bankrupt after the digital camera, shares increased by 2400% in less t5han a week after they received a government loan to produce drugs.

 

They have never made drugs before.

 

Nikola, the electric truck "maker",  worth more than GM, and has not even a prototype or a factory yet.

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From today's Bangkok Post-

Major gold traders have agreed to use the US dollar in order to limit volatility in using the baht, says a Bank of Thailand senior executive. ... The [Thai] central bank recently asked foreign exchange dealers if they could quote gold prices in dollars instead of baht for outbound and inbound shipments, as well as for the sale of imported gold to other local dealers, said a source familiar with the issue. "

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Posted (edited)
2 hours ago, Logosone said:

No impulse wave in all of London.

 

It looks like Gold may correct downwards a bit further in the short term. Unless New York has an ace up its sleeve.

Not New York, but the Tweeter in Chief, who just threw a nice bone to the swamp creatures, with his suggestion to delay the elections. 

 

Thank you mister president. 

Edited by Brunolem

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2 hours ago, Susco said:

The price moves with the dollar valuation, in case you didn't notice yet.

 

Dollar goes lower, gold price goes up, and vice versa

Yes, thanks, I had that suspicion. And the dollar index is based on its value against various currencies, and the dollar goes up or down based on what positions traders in London Tokyo and NY place. What's your point?

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43 minutes ago, Brunolem said:

Not New York, but the Tweeter in Chief, who just threw a nice bone to the swamp creatures, with his suggestion to delay the elections. 

 

Thank you mister president. 

Gold fell from 1960 to 1940.

 

It's something. 

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