Gold Price Mystery

[Oxx]

I notice that the price of gold in USD is down 9% over the last quarter.

 

I thought that at times of uncertainty the price of gold was supposed to go up.  And having Trump as president must surely count as major uncertainty.

 

Can anyone explain why gold isn't doing what it's supposed to?

 

(Please, no discussion of the merits of gold as an investment.  That's been covered many times before.)

[tomas557]

13 minutes ago, Oxx said:

And having Trump as president must surely count as major uncertainty.

Maybe you're wrong about that uncertainty

 

13 minutes ago, Oxx said:

(Please, no discussion of the merits of gold as an investment.  That's been covered many times before.)

 Attempts to start another hidden Trump slagging thread have been done more often.

[allane]

Gold and the US dollar are considered to be the two safest investments in the world, at least among those that are highly liquid. Usually, when one goes up, the other goes down.  In the last 3 months, the USD is up 5.5% against the Euro.  Source:  x-rates.com

[suzannegoh]

Quote

 

I notice that the price of gold in USD is down 9% over the last quarter.

 

I thought that at times of uncertainty the price of gold was supposed to go up.  And having Trump as president must surely count as major uncertainty.

 

Can anyone explain why gold isn't doing what it's supposed to?

 

(Please, no discussion of the merits of gold as an investment.  That's been covered many times before.)

 

 

 

The main thing that you need to know about gold investing is that the price of gold is not dictated by free market principles but by collusion between a group of shadowy cabals that include the Rothschilds, the Masons, the NWO, the Bilderberg Group, and the Illuminati.

Edited July 18, 2018 by suzannegoh

[Bob12345]

7 minutes ago, suzannegoh said:

The main thing that you need to know about gold investing is that the price of gold is not dictated by free market principles but by collusion between a group of shadowy cabals that include the Rothschilds, the Masons, the NWO, the Bilderberg Group, and the Illuminati.

Not completely true, as gold is also used by aliens to power their spaceships meaning steady demand since the jews signed the intergalactic trade agreement turning the dark side of the moon into a launching site. But you wont read about that in the general media.

[suzannegoh]

14 minutes ago, Bob12345 said:

Not completely true, as gold is also used by aliens to power their spaceships meaning steady demand since the jews signed the intergalactic trade agreement turning the dark side of the moon into a launching site. But you wont read about that in the general media.

Tell me about it.  I lost my shirt on Gold-Press Latinum when Paul Volker took over as the Fed Chief.  Never trust a shape shifter,

[elgenon]

12 minutes ago, Bob12345 said:

Not completely true, as gold is also used by aliens to power their spaceships meaning steady demand since the jews signed the intergalactic trade agreement turning the dark side of the moon into a launching site. But you wont read about that in the general media.

The thing that you didn't include is that Thai girls have found out that farangs have gold fillings and gold caps. The amount of gold extracted by them has lowered the market price.

Source: Bloombug News

 

Other than that, yes, it is the fact that the dollar has been appreciating. Worth more baht now too. My bud(?) who tried to get me to sell everything and buy gold when it was 1600 is poor now.

[Colabamumbai]

Thailand gold dealers set the price here. It maybe slightly higher than quoted international rates.

[GreasyFingers]

If you listen to Harry Dent it is going to USD700 over the next 2 years.

[dotpoom]

4 hours ago, tomas557 said:

Maybe you're wrong about that uncertainty

 

 Attempts to start another hidden Trump slagging thread have been done more often.

Sounds to me like he's not "slagging" Trump....the opposite in fact?

[Catoni]

"Oxx"......  Trump is only a major uncertainty if you're a socialist or communist Bernie Sanders or Hillary supporter.  Which one are you? 

You might like to know that the U.S. economy is booming... .  unemployment at record lows... More money in more people's pockets.  Four old regulations done away with for every new one created. 

     I don't like everything about Trump.......But the U.S. economy is doing really very well now...  Not much uncertainty there....  

[Catoni]

2 hours ago, suzannegoh said:

 

The main thing that you need to know about gold investing is that the price of gold is not dictated by free market principles but by collusion between a group of shadowy cabals that include the Rothschilds, the Masons, the NWO, the Bilderberg Group, and the Illuminati.

You forgot the Rockefellers and the Trilateral Commission. 

[Brunolem]

5 hours ago, Oxx said:

Can anyone explain why gold 

 

In order to control (manipulate) the price of gold, and other precious metals such as silver, the banks have created what is called a "paper market".

 

It means that it is possible to buy and sell gold that only exist on paper!

 

Incredible, but unfortunately true.

 

The paper market is about a hundred times larger than the physical market, and the price of gold, both physical and virtual, is fixed according to the transactions on both markets!

 

Needless to say that the paper market only exists to keep the price of physical gold in check, because the last thing the banker-money printers want is to see the money flow to precious metals, something that would raise an alarm on the real value of paper money.

 

Knowing that, it all boils down on why someone wants to buy gold.

 

If it is for speculation, forget about it, but if it is for long term protection against a very likely future financial crisis, then take advantage of the low manipulated price to build your reserves...this is what China, Russia and others are doing, and they are not crazy, they see the writing on the wall...

[Oxx]

25 minutes ago, Catoni said:

"Oxx"......  Trump is only a major uncertainty if you're a socialist or communist Bernie Sanders or Hillary supporter.  

 

I deliberately don't want to knock Trump since that's a distraction from the topic.  However, there is definitely massive uncertainty when America starts a major trade war with China, Europe, Mexico and Canada &c.. 

 

Only a fool or a troll would think otherwise.

[Lacessit]

Gold doesn't earn income. The Fed is ratcheting up interest rates, which makes the US dollar more attractive in the risk-on phase. When it's risk-off, gold will come back.

There is a mountain of US debt ( and other countries ) in the global economy. The banks of the world are shuffling assets around to try to prevent landslides from said mountain. Gold is  a good hedge against such events - it doesn't burn like paper.

[BuaBS]

Gold seems to follow the Yuan lately . China is a big buyer of Gold and with the trade war they devalue the yuan to compensate and get the price of Gold down via the paper market , so they don't have to pay more .

[natway09]

I will continue to buy gold,       USD with Trump at the helm,,,,, no thanks

[Jonmarleesco]

7 hours ago, Oxx said:

I thought that at times of uncertainty the price of gold was supposed to go up. 

Something that has always amused me. I can't imagine Villa being impressed with being offered a lump of gold in payment for groceries.

[GreasyFingers]

13 minutes ago, Jonmarleesco said:

Something that has always amused me. I can't imagine Villa being impressed with being offered a lump of gold in payment for groceries.

There will always be a buyer in cash so you can then buy your groceries

[Suradit69]

5 hours ago, Colabamumbai said:

Thailand gold dealers set the price here. It maybe slightly higher than quoted international rates.

It's directly priced based on London and New York prices, taking into consideration purity and currency exchange rates. If you buy gold jewelry or bars there is a dealer commission or design charge, depending on what you want to call it.

 

dollar price per ounce x 0.473 x exchange rate will get you to the baht price.

There's some wiggle room on the dollar bid/ask price for gold and the exchange buy/sell rate, but using approximate recent values, you'd get:

$1230 x 0.4732 x 33.3 =  Baht 19400

 

which is about Baht 200 less than the price I saw recently.

 

As to international dollar price of gold, it's influenced by the dollar exchange rate; major gold markets like China, India and Russia,; complications related to international trade wars, corrupt manipulation at the London Metal Exchange  or elsewhere, etc.  But ultimately it depends on what buyers are willing to pay for it and sellers are willing to sell it for. It is not a business or income generating investment. It's a commodity.

 

From a few years ago ...

Quote

 

Gold price benchmark open to manipulation: London Metal Exchange CEO

 

The gold and silver fixes, along with other commodity benchmarks, have come under increasing scrutiny by regulators in Europe and the United States since a London Interbank Offered Rate (Libor) manipulation case last year.

“When people sit around a table and lift a flag in the gold market and say this is where the price is, obviously it is open to manipulation if it’s done in this opaque way,” LME Chief Executive Garry Jones told a conference in London on Tuesday, giving no further details.

 

https://www.reuters.com/article/uk-gold-fix-lme/gold-price-benchmark-open-to-manipulation-london-metal-exchange-ceo-idUSKBN0EL2HB20140610

Edited July 18, 2018 by Suradit69

[1FinickyOne]

Usually, $ goes up, gold goes down, but markets don't always behave the way we think or expect they might... especially true over a short term. As you state, uncertainty can cause a spike in gold prices, but i don't know that we are on the verge of any wars, just the same sort of chaos as the last couple of years... so, maybe this is now normal. I don't know and am not good at predicting, so, I tend to play long term... 

[Catoni]

On 7/18/2018 at 5:29 AM, Oxx said:

 

I deliberately don't want to knock Trump since that's a distraction from the topic.  However, there is definitely massive uncertainty when America starts a major trade war with China, Europe, Mexico and Canada &c.. 

 

Only a fool or a troll would think otherwise.

    Perhaps if Canada, Europe et al. had been playing fair for the last many years, Trump wouldn't have said anything. But if you look at the argument.....  Trump certainly has a point..   He just wants everyone to trade fairly.  Other countries, including Canada,  have been taking unfair advantage of the U.S. in trade for years...  

    An example:    Canada exports its lumber to the global market, as it can leverage government subsidies to sell its lumber cheaper than other countries (like the United States), that instead rely on prevailing market rates to price their goods. This is simply unfair and gives Canada an artificial advantage over other producers. Subsidized Canadian lumber imports are actually a violation of trade laws.  

   Another example is Canadian dairy. Canada has long maintained a high tariff wall on most dairy products. The duty on milk is 270 per cent. Are you shocked yet ? ?  Surprised ? ? 

          That keeps most imports from the United States and elsewhere out of Canada, while helping to prop up higher domestic prices. 

    Perhaps a socialist or fascist or communist would call that fair.....But not anyone with common sense. 

     This is something that should have been taken care of years and years ago. . Finally the U.S. has a president willing to do something about it.  Maybe hurt in the short run.... but in the long run.... it's going to save the U.S. hundreds of billions.. maybe trillions of dollars that it has been getting cheated out of for far too many decades...    I don't like everything about Trump. Some things about him really bug me.  

      But I must admit.... Trump is making the right move on this.     Good for the U.S.  

Edited July 23, 2018 by Catoni
Addition.

[Pib]

On 7/18/2018 at 1:55 PM, Bob12345 said:

Not completely true, as gold is also used by aliens to power their spaceships meaning steady demand since the jews signed the intergalactic trade agreement turning the dark side of the moon into a launching site. But you wont read about that in the general media.

 Well, to be fair FoxNews did carry that story.

[lannarebirth]

On 7/17/2018 at 11:45 PM, suzannegoh said:

 

The main thing that you need to know about gold investing is that the price of gold is not dictated by free market principles but by collusion between a group of shadowy cabals that include the Rothschilds, the Masons, the NWO, the Bilderberg Group, and the Illuminati.

 

Oh yes, all of that, and that its breakout from the 900 level remains untested.

[Henryford]

The gold price is certainly manipulated to stop people using it as an alternative to the banksters fiat money. I can't understand why anyone would buy paper gold, madness. It's worth no more than the fiat dollars/pounds/euro. The whole point about gold is that it is a physical asset you can hold.