Thread: Gold price may rocket to 19,000 THB/1-baht weight

It could easily double in the next couple years.

in the "greater fool theory", it could indeed. Actually, it could tripe within the year

it used to be 2,000 THB for 1 baht, and that was less than 10 years ago

also keep in mind that Gold in Thailand is regarded as a long term of investment along with empty condos for most rich Thais. So it's no surprise that they would heavily invest into such assets as soon as they converted their profit in USD or other foreign currency into THB

Originally Posted by Butterfly

it used to be 2,000 THB for 1 baht, and that was less than 10 years ago

Thats too low butterfly. I was paying 4500 20 years ago when it was marriage time.

2000 baht for 15 grams of gold at 37 baht to the dollar would be what 100 to 120 and ounce?

Smart people are selling gold.

What taxes are there, if any , on buying and selling gold in Thailand ?

None- it's chinese controlled.

Originally Posted by Butterfly

in the "greater fool theory", it could indeed. Actually, it could tripe within the year

it used to be 2,000 THB for 1 baht, and that was less than 10 years ago

also keep in mind that Gold in Thailand is regarded as a long term of investment along with empty condos for most rich Thais. So it's no surprise that they would heavily invest into such assets as soon as they converted their profit in USD or other foreign currency into THB

If you have never studied macro economics and Austrian economics then you know nothing about gold.

US treasuries are the bubble, not gold.

Just when the sheeple thought they had this bubble thing figured out, along come Ben Bernanke with the fiat bubble.

Originally Posted by sabang

Smart people are selling gold.

Like 3 of the biggest hedge fund superstars in the world today ? Every one of these guys have huge gold positions that they have added to as early as last month.

Buyers

David Eihorn of Greenlight Capital- Famous for shorting Bear Sterns and Lehman Bros. in 08.

John Paulson of Paulson & co.- Famous for shorting US housing in 07

George Soros of Soros LCC- Famous for breaking the bank of England

[quote=socal;If you have never studied macro economics and Austrian economics then you know nothing about gold.

US treasuries are the bubble, not gold.

Just when the sheeple thought they had this bubble thing figured out, along come Ben Bernanke with the fiat bubble.[/quote]


I dont agree with some of BF's posts but i have to say that, I, as a dealer in PM's for 30 years have never heard/read so much repetitive clap trap.
There is no such thing as a long term investor in gold or any other metal. We all watch the market hourly and would sell all at the drop of a hat. It matters not what is written in books. Get out there and risk your own money and see how easy it is to watch your 'investment' shrink, try then to settle your nerves with 'its ok i am in for the long haul'. Gold will rise now for 5-6 weeks i feel because of the Western jewellers increasing their Christmas stock and the onset of the marriage season in India and constant demand by growing wealth in China. China's property bubble is the biggest threat to the gold price, i feel. I dont read books about the world economy,i read the market to-day and react accordingly. If people want to hold some of their wealth in gold, buy coins, as i have mentioned in other threads. You then have some comfort in there numastic value...6% min premium.
I have been dealing in gold for a long time with my own money and my family are not hungry and they all have a pair of shoes !......

Gold price may rocket to 19,000 THB/1-baht weight

Hardly rocket, it was there (or just about - 50 or 100b short 2 months ago), and has been middle 18,000s for a while.

according to Gold Traders Association President Jitti Tangsitthibhakdi.

Would this man gain by telling us all about how its going to rocket I wonder...

There is something almost psychotic about some of these people who seem to think they are going to live fat and happy clutching their little bag of shinny metal after everything else collapses and everyone else in the World is starving. They remind me if the survivalist gun nuts back home.

[quote=Bower;1537874]

Originally Posted by socal;If you have never studied macro economics and Austrian economics then you know nothing about gold.

US treasuries are the bubble, not gold.

Just when the sheeple thought they had this bubble thing figured out, along come Ben Bernanke with the fiat bubble.[/quote

I dont agree with some of BF's posts but i have to say that, I, as a dealer in PM's for 30 years have never heard/read so much repetitive clap trap.
There is no such thing as a long term investor in gold or any other metal. We all watch the market hourly and would sell all at the drop of a hat. It matters not what is written in books. Get out there and risk your own money and see how easy it is to watch your 'investment' shrink, try then to settle your nerves with 'its ok i am in for the long haul'. Gold will rise now for 5-6 weeks i feel because of the Western jewellers increasing their Christmas stock and the onset of the marriage season in India and constant demand by growing wealth in China. China's property bubble is the biggest threat to the gold price, i feel. I dont read books about the world economy,i read the market to-day and react accordingly. If people want to hold some of their wealth in gold, buy coins, as i have mentioned in other threads. You then have some comfort in there numastic value...6% min premium.
I have been dealing in gold for a long time with my own money and my family are not hungry and they all have a pair of shoes !......

So US treasuries have been in a bull market for 30 years. A ten year auction just hit a record low yield.(bond prices are the inverse of the yield)

Like I said before, the unmolested low for gold in 2000 was not $255. It was only the announced sales and dumping of the UK gold by Gordon Brown (to bail out the LBMA)that brought the price that low.

$500 gold to $1200 gold over a ten year period where derivative markets expanded ten fold and where the Fed balance sheet doubled, is not an over heated market.

^also I forgot to mention, that was also a ten year period where central banks all over the world where selling gold and mine production was declining. Central banks just started buying gold.

Gold is cheap and treasuries reek of a bubble. I have been buying gold all summer and I have the receipts to prove it.

Originally Posted by The Master Cool

Gold price may rocket to 19,000 THB/1-baht weight

Hardly rocket, it was there (or just about - 50 or 100b short 2 months ago), and has been middle 18,000s for a while.

according to Gold Traders Association President Jitti Tangsitthibhakdi.

Would this man gain by telling us all about how its going to rocket I wonder...

Back to the original question: should we buy now, or wait for a pullback?
The answer comes when you look at the big picture. If you pull up a 9-year chart of gold, what sticks out is that the price is near its all-time nominal high. One could be forgiven for thinking it looks toppy or at least ripe for a pullback. But I assert that the highs for gold have yet to be charted.

What will a gold chart look like after adding five years to it?

When projecting gold's potential price peak, there are many ways to measure it. Conservatively, gold reaching its inflation-adjusted 1980 high would have it topping around $2,400 an ounce. More radically, if the U.S. tried to cover its cumulative foreign trade deficit with its current gold holdings, gold would need to hit about $32,000/oz.

Let's take something more middle of the road, and apply the same trough-to-peak percentage advance gold underwent in the 1970s. (I think there's a greater than 50/50 chance it does more than that, given the precarious nature of the U.S. dollar.) Gold rose from $35 in 1970 to $850 in 1980, a factor of 24.28. Our price bottomed in 2001 at $255.95; multiply that by 24.28 and you get a gold price of $6,214 per ounce.

Sound too high? Well, would it feel high if you had to pay $12.50 for a Big Mac? At $3.39 today at my local McDonald's, that's about what it would cost ten years from now if we get the same rate of inflation we had in the late 1970s.


That was a cut and paste job but let me tell you, gold is cheap.


You have a choice, you can side with Bower, butterfly and Sabang on Teakdoor.com or you can side with the richest sovereign wealth funds in the world, the hedge fund superstars of the world and the central banks of the world who are all buying gold as early as last week.

Originally Posted by BobR

There is something almost psychotic about some of these people who seem to think they are going to live fat and happy clutching their little bag of shinny metal after everything else collapses and everyone else in the World is starving. They remind me if the survivalist gun nuts back home.

If you had 2 million bucks to invest today, where would you put it ?

Originally Posted by aging one

Thats too low butterfly. I was paying 4500 20 years ago when it was marriage time.

2000 baht for 15 grams of gold at 37 baht to the dollar would be what 100 to 120 and ounce?

I clearly remember in the late 90s seeing Gold in Thai shops being sold for 2,000 to 2,500 THB, might have been shortly before 1997

Originally Posted by socal

David Eihorn of Greenlight Capital- Famous for shorting Bear Sterns and Lehman Bros. in 08.

gee, what a genius, everyone was

Originally Posted by socal

John Paulson of Paulson & co.- Famous for shorting US housing in 07

isn't that firm being questioned by the SEC over an allege deal over them shorting those securities while their investors were actually pushed to buy ? I guess when you have a market of "buyers", it's easy to sell

Originally Posted by socal

George Soros of Soros LCC- Famous for breaking the bank of England

that was over 20 years ago

Originally Posted by BobR

There is something almost psychotic about some of these people who seem to think they are going to live fat and happy clutching their little bag of shinny metal after everything else collapses and everyone else in the World is starving. They remind me if the survivalist gun nuts back home.

right on, exactly. I bet socal is also a gun nut, since he is American, wouldn't surprise me. There is a strong link between those catastrophic scenario and those psychotic nutters. They should invest in a few pills first before buying gold and guns.

Originally Posted by socal

If you have never studied macro economics and Austrian economics then you know nothing about gold.

US treasuries are the bubble, not gold.

we went through this already, you are still barking at the wrong tree and make your investment decisions on the wrong benchmark.

This is going to end in pain

Originally Posted by socal

You have a choice, you can side with Bower, butterfly and Sabang on Teakdoor.com or you can side with the richest sovereign wealth funds in the world, the hedge fund superstars of the world and the central banks of the world who are all buying gold as early as last week.

oh boy

Originally Posted by Butterfly

Originally Posted by socal

You have a choice, you can side with Bower, butterfly and Sabang on Teakdoor.com or you can side with the richest sovereign wealth funds in the world, the hedge fund superstars of the world and the central banks of the world who are all buying gold as early as last week.

oh boy

oh boy what ? Are you aware that if the US trade deficit with China was to be settled in todays gold price ($1200 pissy assed dollars an oz.) it would take 55,000 tons ?

The US and the European unions total gold hoard is 18,000 tons. So where is the rest of the gold going to come from ? Nowhere, the price in dollars just has to rise to solve China's problem.

But you think gold is in a bubble, haha.

hint: Gold is not a standard of measurement for economic activity.

We do not need gold to conduct general business, may it be International or local business. When was the last time someone asked you to be paid in Gold ?

is that easier to understand ?

this reminds me of the gun loons who think that freedom is measured by how many guns you own

Originally Posted by BobR

There is something almost psychotic about some of these people who seem to think they are going to live fat and happy clutching their little bag of shinny metal after everything else collapses and everyone else in the World is starving. They remind me if the survivalist gun nuts back home.

It worked for many Khmers trapped in Cambodia during the Khmer Rouge regime.

Originally Posted by Butterfly

hint: Gold is not a standard of measurement for economic activity.

We do not need gold to conduct general business, may it be International or local business. When was the last time someone asked you to be paid in Gold ?

is that easier to understand ?

this reminds me of the gun loons who think that freedom is measured by how many guns you own

Obviously you know nothing about central banking and I dont have time to give you a lesson.

Originally Posted by Nostradamus

Originally Posted by BobR

There is something almost psychotic about some of these people who seem to think they are going to live fat and happy clutching their little bag of shinny metal after everything else collapses and everyone else in the World is starving. They remind me if the survivalist gun nuts back home.

It worked for many Khmers trapped in Cambodia during the Khmer Rouge regime.

and what does that have to do with the fact that gold is a good investment right now ?

I never said anything about civil collapse.

Thailand's gold trading price hits record high of Bt21,050 per one baht weight of ornamental gold (15.244 grams); Gold bars now Bt20,650

Thailand's gold trading price hits record high of Bt21,050 per one baht weight of ornamental gold

Originally Posted by socal

they are going to live fat and happy clutching their little bag of shinny metal

Make a crown out of it and be a King, or for some a real queen.