Hordes cash in as gold price rockets past Bt30,000

[Pravda]

Bought gold 10 years ago at 1700 cad per oz

 

Sold it 3 years ago at 1700cad per Oz. 

 

Idiot

[bodga]

On 8/8/2020 at 7:26 AM, Jack Mountain said:

Another example that if I had followed my own advices I would be filthy rich. Had to buy at 18K a year ago or so  .... but didn't. LAZY!

Wife  bought 15baht when it was 18k not so  long  ago, now shes 'Keeping an eye on it daily"

[petedk]

7 hours ago, jabis said:

Still wouldn't've been a good idea to use all your money and wait for nearly a decade or so to see fruits of your labour 

Maybe "all you can afford to lose".

 

The whole gold/stock markets are so unpredictable. No one a year ago had any idea that a "little virus" would change the whole world economy so much.

[petedk]

11 hours ago, nightfox said:

I remember gold being at 8k per bhat weight when I first came to Thailand some 15 years ago thinking thats expensive...What do I know...

It was 4K when I came. I bought a 1 baht chain for my daughter. She still has it and would never sell it.

[IvorBiggun2]

11 hours ago, swissie said:

Hopefully, the Thai Economy recovers fast.

Why want the Thai economy to recover? Don't you want to go back to the exchange rates of years ago?

 

[DrTuner]

13 hours ago, jabis said:

Still wouldn't've been a good idea to use all your money and wait for nearly a decade or so to see fruits of your labour 

2x isn't really that good a ROI for a decade if you know what you're doing. It's ok, but not stellar, just about 7% per year. Gold has a problem, physical storage. If you go for virtual gold, then you're relying on some one else already. Bitcoin is the new gold (although you can argue Chinese could do a 51% attack).

Edited August 9, 2020 by DrTuner

[Leaver]

7 hours ago, IvorBiggun2 said:

Why want the Thai economy to recover? Don't you want to go back to the exchange rates of years ago?

 

Maybe he's invested everything in Thailand, or is earning Thai baht through work, investments, or property.  

[swissie]

17 hours ago, Airalee said:

Sure....if the headlines are saying “BUY!!!”   But...the headlines are saying SELL!!!  And the articles are specifically stating (as they did in the article two weeks ago here on TV) that people are “cashing in before the price falls”

 

you think the hoards of people lining up to sell are the “smart money”?

 

Contrary to what you say, the headlines are saying “Gold is a foolish place to put your money”

https://www.marketwatch.com/story/gold-is-a-foolish-place-to-put-your-money-right-now-if-you-check-the-facts-2020-08-07?siteid=yhoof2&yptr=yahoo

 

Yeah...sure...a story linked on Yahoo is a great place for financial advice. ????

 

You sure about that?  Where are you getting your information?  I suppose we will know in 6 months if they have added to their holdings or divested.

“According to the 2020 CBGR survey, 20% of central banks intend to increase their gold reserves over the next 12 months, compared to just 8% of respondents in the 2019 survey. The increase is particularly notable as central bank buying has reached record levels in recent years, adding around 650 tonnes in 2019 alone.”
 

https://resourceworld.com/central-banks-to-increase-gold-reserves/

 

https://www.gold.org/goldhub/data/monthly-central-bank-statistics

 

Obviously, we just have different sources of information. There is a smorgasboard of conflicting information available. We tend to pick the information sources that support our "bias".
Nothing new, just human behaviour.

[Airalee]

1 hour ago, swissie said:

Obviously, we just have different sources of information. There is a smorgasboard of conflicting information available. We tend to pick the information sources that support our "bias".
Nothing new, just human behaviour.

I showed you my sources....show me yours.  I’d like to see where your “central banks aren’t buying gold” assertion comes from.

[IvorBiggun2]

2 hours ago, Leaver said:

Maybe he's invested everything in Thailand, or is earning Thai baht through work, investments, or property.  

Only invest what you can afford to lose. 

[Leaver]

1 hour ago, IvorBiggun2 said:

Only invest what you can afford to lose. 

I laugh when I hear the words "invest" and "Thailand" in the same sentence. 

 

I don't even bother with the 800k a year.  

[swissie]

23 hours ago, Airalee said:

I showed you my sources....show me yours.  I’d like to see where your “central banks aren’t buying gold” assertion comes from.

Good heavens! A while back, every financial Newspaper of repute reported the fact that the central-banks have reduced their Gold purchases massively. I prefer those newssources instad of the assessements of some internet "market-sideliners".

Sorry, I dont collect and store those links. I collect and store postage stamps and money.

But I am flattered that you would like to enter a game of "if you show me yours, I show you mine". How exiting!

[ExpatOilWorker]

Ouch!

 

[DrTuner]

11 minutes ago, ExpatOilWorker said:

Ouch!

 

Greenback bouncing back a bit. As long as the machine says brrrrr, gold will continue to go up. Corrections are normal market behaviour.

 

Something like this..https://en.wikipedia.org/wiki/Hyperinflation_in_the_Weimar_Republic

 

 

We live in interesting times.

Edited August 12, 2020 by DrTuner

[ExpatOilWorker]

31 minutes ago, DrTuner said:

Greenback bouncing back a bit. As long as the machine says brrrrr, gold will continue to go up. Corrections are normal market behaviour.

 

Something like this..https://en.wikipedia.org/wiki/Hyperinflation_in_the_Weimar_Republic

 

 

We live in interesting times.

The FED still have a magnitude of 100,000,000 to go.

 

"The total paper marks increased to 1.2 sextillion (1,200,000,000,000,000,000,000) in July 1924"