Price of Gold in USD moving right along

[mania]

Since finally getting past the years of being range bound 1200-1250 USD

seems gold is doing quite well these last few weeks

[johnnysunshine]

Yes, and I am quite happy about its rebound!

 

https://www.kitco.com/charts/popup/au0030lnb.html

[kiniyow]

Gold has been a very Poor investment..Cardiac Arrest for at least 5 Years if not longer..

[wilailuk]

Gold is not an investment, it´s insurance for the future when the whole fake FED/CB world blows up in pieces, then we will see the true value of gold.

 

 

 

 

 

[GreasyFingers]

It depends on who you listen to. Rickards says it is going to $10000USD. Dent says $700USD. Both could be wrong of course.

[Lacessit]

I bought 30 baht of Thai gold when it was down at 18,500 baht a few months ago. Selling next week.

[wilailuk]

2 hours ago, GreasyFingers said:

It depends on who you listen to. Rickards says it is going to $10000USD. Dent says $700USD. Both could be wrong of course.

Yes, and Jim Sinclair says 50.000 USD!

 

https://usawatchdog.com/jim-sinclair-50000-gold-us-dollar-collapse-hyperinflation-and-more/

 

- and I´ve read that his business partner - Bill Holter - says 170.000 USD, when the world will look like Venezuela now.. I hope we don´t get there.

 

 

[emptypockets]

4 hours ago, wilailuk said:

Gold is not an investment, it´s insurance for the future when the whole fake FED/CB world blows up in pieces, then we will see the true value of gold.

 

 

 

 

 

Value of gold? You cant eat or drink it.  There is no intrinsic value in shiny metal apart from what other fans of shiny metal are prepared to pay for it. No different to sea shells in other cultures. Probably will make more money in drinking water in the not too distant future, as that is what wars will be fought over.

If gold works for you - go for it.

[mania]

8 hours ago, emptypockets said:

Value of gold? You cant eat or drink it.  There is no intrinsic value in shiny metal apart from what other fans of shiny metal are prepared to pay for it. No different to sea shells in other cultures.

Funny over the years I have heard the same old song & dance...you cant eat or drink it....????

 

Well I cannot eat or drink $100 dollar bills either...But damn if they both don't buy a lot of food & drink once exchanged for the currency of the realm

 

Fans of shiny metal? Want to ask what countries have been buying & storing it since...always?? ????

Some know money from currency

 

Edited June 25, 2019 by mania

[Brunolem]

12 hours ago, Lacessit said:

I bought 30 baht of Thai gold when it was down at 18,500 baht a few months ago. Selling next week.

I am buying... 

 

Now is certainly not the time to sell... 

[Brunolem]

9 hours ago, emptypockets said:

Value of gold? You cant eat or drink it.  There is no intrinsic value in shiny metal apart from what other fans of shiny metal are prepared to pay for it. 

Just have a look at how fiat currencies have performed against gold in the past hundred years, and especially since 1971...

 

Gold is a store of value. 

 

I would rather find a crate full of one thousand year old gold coins, than a crate full of one hundred year old paper money or government bonds, which I would gladly leave to you... 

 

Finally, isn't it strange that the authorities that create paper money need to support it by lowering interest rates to zero and below, while at the same time regularly smashing down (a.k.a. manipulating) the price of gold? 

 

It would seem that there are quite a few fans of shiny metals, starting with the Russian and Chinese central banks... 

[suzannegoh]

12 hours ago, wilailuk said:

Yes, and Jim Sinclair says 50.000 USD!

 

https://usawatchdog.com/jim-sinclair-50000-gold-us-dollar-collapse-hyperinflation-and-more/

 

- and I´ve read that his business partner - Bill Holter - says 170.000 USD, when the world will look like Venezuela now.. I hope we don´t get there.

 

 

I hadn’t read Sinclair for years.  He’s always been an ultra-bull on gold but in the decade leading up to the 2008 financial crisis he called gold’s price action about as accurately as anyone.  Do you happen to know what he was saying as gold was approaching $2000 a few years ago, did he tell people to sell?

[owl sees all]

10 hours ago, emptypockets said:

Value of gold? You cant eat or drink it.  There is no intrinsic value in shiny metal apart from what other fans of shiny metal are prepared to pay for it. No different to sea shells in other cultures. Probably will make more money in drinking water in the not too distant future, as that is what wars will be fought over.

If gold works for you - go for it.

Everything has its place. If you were lost in the desert, severely dehydrated, and you came upon a small spring, a plastic bottle would be as important as a wad of cash.

 

For centuries the silver/gold ratio value was between 10 and 20. In other words it cost 10/20 kilos of silver to buy a kilo of gold. Now that ration is getting on to be 100. In the east, gold is traded by the average person. Virtually all Thai families have some gold; either at home or in hock at the gold shop. Indian people hold something like 5% of the world's supply.

 

I recommend buying small denominations of silver coins as well as chunky gold chains. When the crash comes, each link might be worth a sack of salt or rice.

Edited June 26, 2019 by owl sees all

[suzannegoh]

15 minutes ago, owl sees all said:

Everything has its place. If you were lost in the desert, severely dehydrated, and you came upon a small spring, a plastic bottle would be as important as a wad of cash.

 

For centuries the silver/gold ratio value was between 10 and 20. In other words it cost 10/20 kilos of silver to buy a kilo of gold. Now that ration is getting on to be 100. In the east, gold is traded by the average person. Virtually all Thai families have some gold; either at home or in hock at the gold shop. Indian people hold something like 5% of the world's supply.

 

I recommend buying small denominations of silver coins as well as chunky gold chains. When the crash comes, each link might be worth a sack of salt or rice.

Thais and Indians liking to buy gold isn't a very persuasive testimonial.

 

One thing that gold has going for it right now is that the Trump administration wants to devalue the dollar and they probably will succeed.

Edited June 26, 2019 by suzannegoh

[Misty]

16 hours ago, wilailuk said:

Gold is not an investment, it´s insurance for the future when the whole fake FED/CB world blows up in pieces, then we will see the true value of gold.

 

 

 

 

 

Gold is to money like horses are to transportation

[VocalNeal]

4 minutes ago, Misty said:

Gold is to money like horses are to transportation

Yep. They are mostly all now thoroughbreds and worth money.

[Brunolem]

1 hour ago, suzannegoh said:

 

 

One thing that gold has going for it right now is that the Trump administration wants to devalue the dollar and they probably will succeed.

They don't need to "want" to devalue the dollar... the dollar has lost 97% of its value against gold since the inception of the Fed... not much left to devalue... 

 

[mania]

1 hour ago, owl sees all said:

For centuries the silver/gold ratio value was between 10 and 20. In other words it cost 10/20 kilos of silver to buy a kilo of gold. Now that ration is getting on to be 100. In the east, gold is traded by the average person. Virtually all Thai families have some gold; either at home or in hock at the gold shop. Indian people hold something like 5% of the world's supply.

 

I recommend buying small denominations of silver coins as well as chunky gold chains. When the crash comes, each link might be worth a sack of salt or rice.

 

For many decades the bellwether for Silver Gold Ratio was around 55/1 & trader would tend to swap gold for silver when it exceeded that 55/1

But since 2009? I think it was? It has risen at that time to 70/1 or so mid 2011 it dropped way down to near 32/1 & was a great time for swapping silver to gold

 

Long term charts show Silver usually moves in fractions or multiples of 15 with 15 & 90 being the ends of the scale

 

This 92.5/1 is quite impressive & would be a good deal for folks to swap to silver if their holding gold.

But I think? in Thailand it is tougher as Silver carries a VAT or tax of some sort doesn't it?

Edited June 26, 2019 by mania

[suzannegoh]

47 minutes ago, Brunolem said:

They don't need to "want" to devalue the dollar... the dollar has lost 97% of its value against gold since the inception of the Fed... not much left to devalue... 

 

The issue that I was referring to is the dollar depreciating vs other currencies, which is usually a bullish sign for gold.

Holding gold since the Fed was created would have been a lousy investment.   US Dollars stuffed in a mattress might have lost 97% of it's value versus gold since then but not US Dollars invested in financial instruments such as bonds and stocks nor even put in a savings account.   
 

Edited June 26, 2019 by suzannegoh

[Brunolem]

1 hour ago, suzannegoh said:

The issue that I was referring to is the dollar depreciating vs other currencies, which is usually a bullish sign for gold.
 

The dollar is indeed depreciating against some currencies such as the... Thai baht... 

 

Other than that, the race to the bottom (of depreciation) is a difficult one to win, since all major currencies are in it, and the dollar has the disadvantage, in this specific case, to be the reserve currency, thus the one everyone rushes to as soon as some tremors are felt. 

 

We could see 1 dollar = 1 euro = 1 pound = 100 yen = almost zero in the not too distant future... debasing/debauching the currency may take time, but sooner or later "success" is guaranteed... 

 

[Naam]

20 hours ago, wilailuk said:

Gold is not an investment, it´s insurance for the future when the whole fake FED/CB world blows up in pieces, then we will see the true value of gold.

if we are still alive

[Naam]

23 minutes ago, Brunolem said:

The dollar is indeed depreciating against some currencies such as the... Thai baht... 

strange! i see the Thai Baht appreciating vs. US-Dollars during the last 20 years.

 

 

[suzannegoh]

3 minutes ago, Naam said:

strange! i see the Thai Baht appreciating vs. US-Dollars during the last 20 years.

 

 

Reread the post that you were replying too. That post says that the dollar was depreciating vs the baht; yours says that the Baht is appreciated vs the dollar.  Same same.

[Naam]

2 hours ago, mania said:

This 92.5/1 is quite impressive & would be a good deal for folks to swap to silver if their holding gold.

but this would also involve the purchase of

[Naam]

37 minutes ago, Brunolem said:

We could see 1 dollar = 1 euro = 1 pound = 100 yen = almost zero in the not too distant future... debasing/debauching the currency may take time, but sooner or later "success" is guaranteed... 

stuff dreams are made of

[Naam]

On 6/25/2019 at 8:08 AM, mania said:

Since finally getting past the years of being range bound 1200-1250 USD

seems gold is doing quite well these last few weeks

weeks don't count, years do.

[Naam]

4 minutes ago, suzannegoh said:

Reread the post that you were replying too. That post says that the dollar was depreciating vs the baht; yours says that the Baht is appreciated vs the dollar.  Same same.

i stand corrected, shame on me!

[Morty T]

If you want to sell, its better here. The US charges 20 % in (buying) and up to 40% out (selling) plus applicable state and income taxes. All of course taxable, over 10K with some exceptions (it changes every year).

[suzannegoh]

4 minutes ago, Morty T said:

If you want to sell, its better here. The US charges 20 % in (buying) and up to 40% out (selling) plus applicable state and income taxes. All of course taxable, over 10K with some exceptions (it changes every year).

The spreads with Kitco are much smaller than that.  And if you're a US citizen the IRS considers it to be taxable regardless of whether you bought & sold it in Thailand or in the US (assuming that they find out about it).

[wilailuk]

The US will probably confiscate all gold when the SHTF.. done before:

 

https://en.wikipedia.org/wiki/Executive_Order_6102