Thai Gold Bars Spread Gone from 100 to 300 baht.

[Dazinoz]

I have been buying and selling thai gold bars for nearly 7 years. The spread has always been 100 baht (plus any commission). Obviously a bigger spread on jewellery (today over 1200 baht +comm) but I don't buy.

 

Toady for the first time, that I have seen, the spread has increased to 300 baht on bars. 

 

Anyone know why? I can only think due to the volatility of gold lately maybe this is to stop people buying and selling too rapidly.

 

And there is no need to post how bad an "investment" in gold is, heard it enough.

[ezzra]

Me think that right now many people worry sick where and how to survive this dreaded disease rather than worry about the 'spread' of gold trading.. with all due respect...

[Dazinoz]

3 minutes ago, ezzra said:

Me think that right now many people worry sick where and how to survive this dreaded disease rather than worry about the 'spread' of gold trading.. with all due respect...

Oh <deleted>. Life still goes on.

[Dazinoz]

Why is it that no matter what you post some keyboard warrior has to negatively comment?

[GeorgeCross]

36 minutes ago, ezzra said:

Me think that right now many people worry sick where and how to survive this dreaded disease rather than worry about the 'spread' of gold trading.. with all due respect...

Just because you think doesn't mean you have to say it..

[GeKoSc]

42 minutes ago, GeorgeCross said:

Just because you think doesn't mean you have to say it..

Why shouldn't he? We are still living in accordance with democratic principles right?

[Tagaa]

The people that post a negative comment obviously don't own any gold.

 

I believe there is a certain amount of jealousy involved.

 

One of the many ways that a person can prepare for times like these is to have some gold. When I have told people about this in the past they say something to the effect of "that will never happen." So, all I have been doing is casting pearls before swine.

 

It appears bad times have indeed arrived. just this morning I drove past Makro in my moderately sized Issan town & the parking lot was packed like the day before Songkran.

 

I also read on another thread that the ATM's were down.

 

Looks like I picked a bad day to stop sniffing glue.

[cornishcarlos]

2 hours ago, ezzra said:

Me think that right now many people worry sick where and how to survive this dreaded disease rather than worry about the 'spread' of gold trading.. with all due respect...

 

The virus is out... It's gonna do what it's gonna do and we will see what is left at the end..

 

Right now is definitely the time to be preparing for post Covid life, just as 1 month ago was the time to be doing a little extra shopping each week to prepare for what is happening now.????

For people lucky/smart enough to have some savings, now is the time to be researching the next move. Whether that is gold, forex, land, crypto currency !!!

Just like buying extra noodles and rice over the past month has prepared some for today, taking note of potential investments now will pay off next year....

 

[RJRS1301]

2 hours ago, Dazinoz said:

Oh <deleted>. Life still goes on.

Perhaps for  some it will not

[Dazinoz]

27 minutes ago, RJRS1301 said:

Perhaps for  some it will not

Which is very sad but for those who survive still need to carry on.

 

I just did a post not about the virus and .......... well you know what I mean.

[owl sees all]

Come now people. Forget the virus and talk about gold.

 

I'm fed up with the virus. Most of the topics are virus linked. It dominates the news. Has ruined the sport. Turned normally rational people into nutters. Just how much can be said about these little nasties? Let's get back to 'man shags lady in sugar field'; Thai people outraged!

 

I was in Big Care yesterday and only half the shop was open and the only independent shops that were operational were the pharmacy and the cake people. All the phone shops and the two gold shops were closed.

 

The time before (that would be Saturday morning), all was functioning. I made a point of looking at the gold prices and there was just 100 Bhat difference. This 300 Baht must be very recent. Be interesting to get other posts on it.

 

[Dazinoz]

46 minutes ago, Tagaa said:

The people that post a negative comment obviously don't own any gold.

 

I believe there is a certain amount of jealousy involved.

 

One of the many ways that a person can prepare for times like these is to have some gold. When I have told people about this in the past they say something to the effect of "that will never happen." So, all I have been doing is casting pearls before swine.

 

It appears bad times have indeed arrived. just this morning I drove past Makro in my moderately sized Issan town & the parking lot was packed like the day before Songkran.

 

I also read on another thread that the ATM's were down.

 

Looks like I picked a bad day to stop sniffing glue.

I agree.

 

Just a few weeks ago I was participating in a thread on gold. Amazing how many don't like it. One poster was going on how much better his money was in shares. Like to know what he thinks now.

 

Yes, shares will probably go back up and gold down, but at the present time I have a small amount gold and a tidy little profit if I survive and sell.

[Dazinoz]

2 minutes ago, owl sees all said:

Come now people. Forget the virus and talk about gold.

 

I'm fed up with the virus. Most of the topics are virus linked. It dominates the news. Has ruined the sport. Turned normally rational people into nutters. Just how much can be said about these little nasties? Let's get back to 'man shags lady in sugar field'; Thai people outraged!

 

I was in Big Care yesterday and only half the shop was open and the only independent shops that were operational were the pharmacy and the cake people. All the phone shops and the two gold shops were closed.

 

The time before (that would be Saturday morning), all was functioning. I made a point of looking at the gold prices and there was just 100 Bhat difference. This 300 Baht must be very recent. Be interesting to get other posts on it.

 

Yep, as  I said in my original post I have been buying/selling for around 7 years now. Always 100 baht difference. Today is the first time I have seen it different and hence my post. But apparently not appropriate to worry about anything else other than the virus. Sorry to all the perfect people out there.

[1FinickyOne]

Trade gold and gold futures online.. don't have to leave the house... just took a handy profit myself from holding overnight... now waiting for it to go back down... arggh matey... 

[Dazinoz]

1 minute ago, kenk24 said:

Trade gold and gold futures online.. don't have to leave the house... just took a handy profit myself from holding overnight... now waiting for it to go back down... arggh matey... 

My cryptos and silver are online in Oz. Here I just wanted some physical gold. Didn't want all my "eggs" in the one online basket.

[ThaiBrian]

Supply is probably thinning out.

[1FinickyOne]

1 minute ago, Dazinoz said:

My cryptos and silver are online in Oz. Here I just wanted some physical gold. Didn't want all my "eggs" in the one online basket.

if I owned crypto and silver, I would want something else too... anything really.

[Dazinoz]

1 minute ago, ThaiBrian said:

Supply is probably thinning out.

Yes it is, I have read that for the small investors/collectors as so many big institutions, governments, etc are buying up.

[Lacessit]

34 minutes ago, owl sees all said:

 Let's get back to 'man shags lady in sugar field'; Thai people outraged!

 

 

 

As long as they were wearing masks, it's OK.

[Lacessit]

I noticed at Big C today the price per baht had jumped 2000 baht in two days. Volatile it is.

[baansgr]

Greed....when a bottle of 59 baht sanitizer is being advertised at 200 upwards as almost every post on marketplace, facemasks...forget it, now some places 1,100 for 90 day report....greed, greed, greed...sewing the true colours of some

[Snow Leopard]

27 minutes ago, Dazinoz said:

Yes it is, I have read that for the small investors/collectors as so many big institutions, governments, etc are buying up.

You cant buy physical gold and silver in Europe and the US. I think that is why they increased the spread here. 300B wont matter soon when gold is 250,000 for 1 Baht not 25,000. ATM's are being restricted, In the UK at least. That means there is a liquidty issue looming. 

[Nyezhov]

8 minutes ago, Snow Leopard said:

ou cant buy physical gold and silver in Europe and the US.

Maybe in europe you cant but you can buy all you want in the US

[ThaiBrian]

https://www.zerohedge.com/commodities/its-selling-toilet-paper-if-you-havent-bought-physical-gold-yet-its-probably-too-late?fbclid=IwAR0YrwsUB3LiAmPjrBld_1CblME0ROb_Cz8mJheIodapK42PL_55Dr-WP4Q

[thequietman]

4 hours ago, Dazinoz said:

Why is it that no matter what you post some keyboard warrior has to negatively comment?

Surely, your post is a negative comment also, no ???? ????

[Snow Leopard]

13 minutes ago, Nyezhov said:

Maybe in europe you cant but you can buy all you want in the US

Dollars to donuts you cant. Not bullion bars. Or pay now and take delivery in 6 months because the dealer hedges it. 

[ThaiBrian]

Oh wow, another Gold headliner... its been in the news a lot lately.

 

"The Gold Market Is Breaking Down": Gold Spreads Explode As LBMA Warns Of Liquidity Problems

https://www.zerohedge.com/commodities/gold-market-breaking-down-gold-spreads-explode-lbma-warns-liquidity-problems

 

"It's Selling Like Toilet Paper": If You Haven't Bought Physical Gold Yet, It's Probably Too Late

https://www.zerohedge.com/commodities/its-selling-toilet-paper-if-you-havent-bought-physical-gold-yet-its-probably-too-late?fbclid=IwAR0YrwsUB3LiAmPjrBld_1CblME0ROb_Cz8mJheIodapK42PL_55Dr-WP4Q

[Snow Leopard]

18 minutes ago, Nyezhov said:

Maybe in europe you cant but you can buy all you want in the US

 

 

[timendres]

The wider spread almost certainly reflects higher volatility on the part of the traders. As the volatility increases, their trade risk increases, and the wider spread helps to offset that.

[ThaiBrian]

I have some precious metals.

I'm thinking about buying a new motorcycle that I cannot afford right now. If precious metals does what I think they'll do and inflation kicks in... *crosses fingers*, maybe even hyperinflation, then I could sell tube full of silver coins to pay off that $10,000 loan? ???????? Don't trash talk.... One can dream.