rooster59 Posted October 17, 2020 Share Posted October 17, 2020 Gold's glitter fades as US reports strong economic data By The Nation The price of gold dropped by Bt100 per baht weight in morning trade on Saturday, the Gold Traders Association reported. As of 9.25am, the buying price of a gold bar was Bt27,950 per baht weight and selling price Bt28,050, while gold ornaments were priced at Bt27,439.60 and Bt28,550, respectively. At close on Friday, the buying price of a gold bar was Bt28,050 per baht weight and selling price Bt28,150, while gold ornaments cost Bt27,545.72 and Bt28,650, respectively. Comex (Commodity Exchange) gold price to be delivered in December dropped by US$2.5, or 0.13 per cent, closing at $1,906.4 (Bt59,487) per ounce on Friday. The precious metal price dropped by 1 per cent this week. Gold price closed in negative territory due to strong US economic data, causing interest in gold as a safe-haven asset to fade. Source: https://www.nationthailand.com/business/30396362 -- © Copyright The Nation Thailand 2020-10-18 - Whatever you're going through, the Samaritans are here for you - Follow Thaivisa on LINE for breaking COVID-19 updates 1 1 Link to comment Share on other sites More sharing options...
Popular Post Jack Mountain Posted October 17, 2020 Popular Post Share Posted October 17, 2020 Economic data??? in election time is even less reliable as in other times ... 4 1 1 Link to comment Share on other sites More sharing options...
kingdong Posted October 17, 2020 Share Posted October 17, 2020 18 minutes ago, Jack Mountain said: Economic data??? in election time is even less reliable as in other times ... all that glitters is not gold. 2 Link to comment Share on other sites More sharing options...
Popular Post Taxi Posted October 18, 2020 Popular Post Share Posted October 18, 2020 Stupid headline down 100 baht. How about Gold set to soar on trillions of new US debt in 2020. Who writes this rubbish and why? 5 Link to comment Share on other sites More sharing options...
Popular Post Surelynot Posted October 18, 2020 Popular Post Share Posted October 18, 2020 6 hours ago, kingdong said: all that glitters is not gold. Glisters 3 Link to comment Share on other sites More sharing options...
Popular Post natway09 Posted October 18, 2020 Popular Post Share Posted October 18, 2020 The person who wrote this rubbish actually believes what they wrote ? World economies are struggling along with the US that will be Trillions in debt after supporting their countries people, many who have lost their jobs since April & the way they are handling the pandemic leaves little doubt that the worst is not over 4 Link to comment Share on other sites More sharing options...
Brunolem Posted October 18, 2020 Share Posted October 18, 2020 Strong economic data indeed, with a $ 3.1 trillion deficit for this year only, and more to come next year! US official economic data is as reliable as China's...they just take into account the positive numbers and forget the negative ones... 1 Link to comment Share on other sites More sharing options...
John CS Posted October 18, 2020 Share Posted October 18, 2020 1 hour ago, Surelynot said: Glisters Glistens ? Link to comment Share on other sites More sharing options...
Surelynot Posted October 18, 2020 Share Posted October 18, 2020 3 minutes ago, John CS said: Glistens ? The quote "All that glisters is not gold" is from Shakespeare's The Merchant of Venice. 1 Link to comment Share on other sites More sharing options...
John CS Posted October 18, 2020 Share Posted October 18, 2020 1 hour ago, natway09 said: The person who wrote this rubbish actually believes what they wrote ? World economies are struggling along with the US that will be Trillions in debt after supporting their countries people, many who have lost their jobs since April & the way they are handling the pandemic leaves little doubt that the worst is not over Yes there is some way to go , & this headline is irrelevant to state at this moment?? I would still consider Gold for core investment over the next few years, I expect the dollar will be devalued next year & maybe gold re-evaluated the following year. There is simply too much debt 97% of US GDP & this is a clear argument of failure of Central Banking System, the major institutions have yet to re-uptake invest in Gold , once this happens next year it will move beyond 2500USD/oz Link to comment Share on other sites More sharing options...
Scott Tracy Posted October 18, 2020 Share Posted October 18, 2020 4 hours ago, John CS said: Yes there is some way to go , & this headline is irrelevant to state at this moment?? I would still consider Gold for core investment over the next few years, I expect the dollar will be devalued next year & maybe gold re-evaluated the following year. There is simply too much debt 97% of US GDP & this is a clear argument of failure of Central Banking System, the major institutions have yet to re-uptake invest in Gold , once this happens next year it will move beyond 2500USD/oz And you're willing to bet your house on this prediction? 1 Link to comment Share on other sites More sharing options...
IAMHERE Posted October 18, 2020 Share Posted October 18, 2020 7 hours ago, Taxi said: Stupid headline down 100 baht. How about Gold set to soar on trillions of new US debt in 2020. Who writes this rubbish and why? Doesn't debt of other nations affect the price of gold? Link to comment Share on other sites More sharing options...
Brunolem Posted October 18, 2020 Share Posted October 18, 2020 35 minutes ago, IAMHERE said: Doesn't debt of other nations affect the price of gold? Not much. What mostly affects gold price is the risk of inflation, which itself is linked to the quantity of money created. Gold went up during the second quarter because of the trillions of dollars and other currencies that were created out of thin air. Expect more of the same "remedy" in the coming months... Link to comment Share on other sites More sharing options...
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