Thread: Buying Gold with my Thai savings?

Originally Posted by Carrabow

Originally Posted by socal

Originally Posted by Carrabow

short term pipe dreams

should have started 9 years ago

Houses and government bonds went up for 30 years and counting. 20 more years to go. Buy the all time high. I did recently, no sweat.

Anything under $3500 is dirt cheap.

I have a hot shot B.I.L in the states who buys and sells gold and other precious metals. I am not one to partake in something like this, but I do listen to his advice. I am too conservative with money to take chances and happy where I am financially.

If you where conservative with money, you would save in gold, not cash that pays no interest and loses purchasing power every day.

Originally Posted by DrAndy

Originally Posted by Carrabow

I am too conservative with money to take chances and happy where I am financially.

gambling on gold is exactly that, and you could lose big time

there are many people out there that think they can make lots of money gambling on gold, stocks or whatever; that type of mindset is exactly what led to the present financial crisis

greed and laziness

Gold represents payment in full, it is nobody else's liability.

Cash in a bank is lent out at risk, to another person, with the hope that they will pay you back. That is gambling.

Originally Posted by Hampsha

As average people lose jobs they are forced to consider selling their gold. The wealthy people who could sit on it forever are the ones who will really do well if it continues upward.

All the money trapped in gold isn't doing the economy shit for good in my opinion. Eventually this will end and there will be a lot of sad people who were unable to sell at highs. As I mentioned before I expect some of the market makers like the Chinese shop owners to fuck off and close their doors on the move down. When everyone starts selling in a crash why the hell would anyone buy. Where's the market then? Rush sell your gold coins or chain the markets going down. Sorry folks we are closed. Run to Bangkok they'll take it at that exorbitant price and lose money on the resale, sure they will. Something seems wrong about this whole thing. People want to say the gold market isn't like others but I sure wonder. The first chance for a better opportunity the smartest people will take it and the rest will get screwed realising that you can lose money or at least dreams.


By the way, yesterday I chatted with a shop owner downtown and she says sales are down and people are returning motorcycles tot he shop across the street because they can't make the payments. Thailand is feeling the effects of a slow down. Why wouldn't it. I think we will be hearing more soon in the papers.

Calling a top ?

ts&cs and copyright policy which allow you to: share links; copy content for personal use; & redistribute limited extracts. Email ftsales.support[at]ft.com to buy additional rights or use this link to reference the article - Tokyo struggles to keep pace with gold rush - FT.com

Tokyo struggles to keep pace with gold rush

By Lindsay Whipp in Tokyo


Japanese families are rushing to sell their gold jewellery, sake cups and even teeth to cash in on surging gold prices.
The stampede to sell gold is so intense that shops buying the precious metal are struggling to cope and are even having to turn some disappointed customers away.

Would a turn around in the gold market be triggered by a government selling its gold? The US supposedly has 8,000 tons of the stuff, the most of any country.


How much would 8,000 tons of gold be worth?

Originally Posted by socal

Originally Posted by Carrabow

Originally Posted by socal

Originally Posted by Carrabow

short term pipe dreams

should have started 9 years ago

Houses and government bonds went up for 30 years and counting. 20 more years to go. Buy the all time high. I did recently, no sweat.

Anything under $3500 is dirt cheap.

I have a hot shot B.I.L in the states who buys and sells gold and other precious metals. I am not one to partake in something like this, but I do listen to his advice. I am too conservative with money to take chances and happy where I am financially.

If you where conservative with money, you would save in gold, not cash that pays no interest and loses purchasing power every day.

Good point, never looked at in that way, but I am still not getting on that train

Here's the math I came up with:

US 8,000 tons of gold X 1800 per ounce =

8,000 x 32,000 ounces (one ton in ounces) = 256000000

256000000 ounces x 1800 dollars per ounce = $ 460,800,000,000

Not enough to change anything.

Originally Posted by Hampsha

Here's the math I came up with:

US 8,000 tons of gold X 1800 per ounce =

8,000 x 32,000 ounces (one ton in ounces) = 256000000

256000000 ounces x 1800 dollars per ounce = $ 460,800,000,000

Not enough to change anything.

A trillion looks like this:

$1,000,000,000,000.00
$ 460,800,000,000.00

7 T in debt, yep we are broke

Originally Posted by Hampsha

Would a turn around in the gold market be triggered by a government selling its gold? The US supposedly has 8,000 tons of the stuff, the most of any country.


How much would 8,000 tons of gold be worth?

I would hazard a guess that your information is not accurate and that there is more gold (jewellery alone) in private hands in India.

Originally Posted by Hampsha

Would a turn around in the gold market be triggered by a government selling its gold? The US supposedly has 8,000 tons of the stuff, the most of any country.


How much would 8,000 tons of gold be worth?

Governments don't do that. Why would they ? They would just put the cash on the same pile that they just ran off the printing press for free the day before.

Originally Posted by Hampsha

Thailand is feeling the effects of a slow down.

maybe true; although the Thai economy appears strong, it can be easily thrown off course by other nations. Incidentally, the traffic through the Suez canal was down 10% in the last year

Originally Posted by socal

Gold represents payment in full, it is nobody else's liability. Cash in a bank is lent out at risk, to another person, with the hope that they will pay you back. That is gambling.

yes, but people buy gold to make a profit, so are gambling

Analysis - Gold shines as Swiss franc's haven appeal dims | Reuters



"(Reuters) - Moves by the Swiss National Bank to curb strength of the Swiss franc will fuel investors' insatiable demand for gold, adding to its relentless rise to new record highs as confidence in the franc as a safe store of value dwindles.

Analysts say this could help gold vault $2,000 an ounce within the coming weeks, with the potential for very large spikes if risk aversion on financial markets gains momentum.

The Swiss franc has fallen sharply from record highs since the SNB bank vowed on August 10 to take steps to curb franc strength. The Swiss central bank has flooded the franc market with liquidity and sold the currency via swaps on the forward market to dim its appeal.

Since that date, gold priced in Swiss francs has spiked. This reversed a trend over recent months when Swiss franc-denominated gold stayed relatively steady as gold in other major currencies hit a string of record highs.

"While gold in euro, sterling and dollar terms was really skyrocketing, gold in Swiss franc terms wasn't doing much, and that's telling us that the Swiss franc was being seen as a proxy to gold," said Stephen Gallo, head of market analysis at Schneider Foreign Exchange.

"Now we've seen an enormous spike in Swiss franc-denominated gold, which may indicate that the SNB has succeeded in causing the Swiss franc's proxy status to gold to become unhinged."

Swiss franc-priced gold has risen nearly 20 percent since the SNB's announcement, hitting a record high for the first time since June 2010 near 1,500 francs ($1,908) an ounce. Spot gold has climbed just over 8 percent to record highs just below $1,900 an ounce in the same period.

With concerns about high U.S. debt and a weak economy denting the appeal of the dollar and intervention by Japanese authorities weighing on the yen, the SNB's measures remove the franc as the remaining accessible safe-haven currency, boosting demand for gold.

"Given that even the Swiss are considering adding liquidity to the market, gold as a currency that can't be printed has a certain attraction," said David Jollie, an analyst at Mitsui Precious Metals.

Maurice Pomery, an analyst at consultants Strategic Alpha, said that now the SNB have "turned off the safety valve", gold could surpass $2,000 an ounce within two weeks, while silver will also gain.

Analysts say gold's appeal is enhanced as the SNB's actions have caused short-term deposit and money rates in Switzerland to turn negative.

"Gold usually does well in currencies that cut rates and have negative real rates," said Tobias Merath, an analyst at Credit Suisse. "If you get a negative nominal yield on government paper and a zero yield on gold, then gold looks more attractive."

WEAKNESS ACROSS THE CURRENCIES

Once seen as a hedge against weakness in the dollar, gold is increasingly perceived as an alternative to paper currencies in general as central banks seek to keep their currencies weak via quantitative easing or through intervention -- described by some as "currency wars".

Central bank intervention in currency markets typically has a significant effect on gold prices. Gold priced in Japanese yen rallied nearly 9 percent to a then-record high near 140,000 yen ($1,836) an ounce in the week after the Bank of Japan intervened to curb strength in the currency on August 4.

Gold prices have hit record highs in recent weeks in all major currencies -- U.S. dollars, yen, euros and sterling -- as well as major commodity currencies such as the South African rand, Canadian, New Zealand and Australian dollars.

The devaluation of major currencies cannot be seen in currency rates - except until recently against the Swiss franc - because all currencies have been losing value, but it can be seen in their value against gold.

Bank of New York Mellon currency strategist Simon Derrick argues that gold's long-term ascent that began in 2001 coincided with the Bank of Japan's quantitative easing programme that began that year and went on until 2006.

"Gold is a flight from currency debasement," BNYM's Derrick said. "It's not gold going up, it's developed currencies going down."


8/8/11 post #434

Originally Posted by OhOh

There will be a fall but everything, all the bad news and nothing positive before US election earliest, points to $2,000 by year end or even the end of August.

Are these baht weight 22ct saleable in Oz please,or is there a big gap between buy and sell like jewellry?

Originally Posted by david44

Are these baht weight 22ct saleable in Oz please,or is there a big gap between buy and sell like jewellry?

1. Calculate 1 baht weight to ounces
2. Calculate cost of 1 baht of 22ct in thai baht to Australian dollars
3. Calculate exchange rate of Thai baht to Australian dollars
4. Convert 22ct to %finesse of the gold
5. Ensure it is legal to import gold into Australia from Thailand
6. Ensure no taxes are payable upon import.
7. Ensure there is a purchasing entity in Australia who will purchase you gold bars, not jewellery.

When you have OK'd all of those points decide.

Originally Posted by DrAndy

Originally Posted by Hampsha

Thailand is feeling the effects of a slow down.

g.

yes, but people buy gold to make a profit, so are gambling[/quote]

Thats wrong. People buy gold to avoid a loss.

Some maybe, some not

so what I stated is true

Just a few words on Chavez requesting his country's physical gold be delivered from the Bank of England.

Originally Posted by Hampsha

Just a few words on Chavez requesting his country's physical gold be delivered from the Bank of England.

time to raise a new spring revolution against Chavez

give it back

if it still exists

Many stocks are cheap no matter what anyone says. And there is some cheap real estate now, too. You can buy gold at 2,000 an ounce and save that for 20 years hoping to have a nest egg of some sort or you can invest in cheap companies or even cheap land/properties. For the young people planning for the long term (retirement), what should they invest in now? Just seems to me like there is more potential in good companies and land. I'm not talking five years but that may be the case too. Long term gold gives some stability no doubt but when it comes down to it business and population in the US/world seem to predict how much you can make from an investment. I also wonder what effect all the assets of the gray population will have on the economy. Whatever they have left in retirement accounts and land etc should be liquidated as they go into their golden years. But then again, kids might move back into their parents homes if things get bad long term. Just seems like a lot is going on. It's not easy planning long term these days.

Originally Posted by Hampsha

For the young people planning for the long term (retirement), what should they invest in now?
It's not easy planning long term these days.

How about a seat on the first rocket to make it to another habitable planet.
Could be worth a fortune 50 years from now.

Gold slipping down today. $60 at the moment.

24-hour Spot Chart - Gold

Thai Gold 18,000 baht 05/2010
Thai gold 23,400 baht 12/2011

5,300 rise in 19 months - 19%