Popular Post clivebaxter Posted March 8, 2022 Popular Post Share Posted March 8, 2022 Try Hua Seng Heng in China town or Seacon Sq, can't see them refusing 2 1 Link to comment Share on other sites More sharing options...
PJ71 Posted March 9, 2022 Share Posted March 9, 2022 19 hours ago, CH1961 said: You do not know the difference Baht/Baht. Do you? Certainly do, i made a lot of money selling all my gold ( 2.5kg / 163 baht ) when Brexit happened. Link to comment Share on other sites More sharing options...
Popular Post JensenZ Posted March 11, 2022 Popular Post Share Posted March 11, 2022 On 3/7/2022 at 9:46 PM, Liverpool Lou said: You think that he can demand that the shops buys his gold just because they've made a sale to another customer? You don't really think that a chain of gold shops is short of money, do you? They're just restricting the quantities of gold that they want to buy per customer, by the sound of it. You don't think there's a possibility there could be a cash shortage when gold reaches nearly record highs? It was $3 short of the August 2020 record high, reaching $2071 on Tuesday night. I would have been surprised if they had enough cash to buy my gold at a time there would be a lot of people trying to cash in. Apart from that, it would not be a wise move for gold shops to buy gold at record price spikes as they stood to lose a lot of money as it plunged soon after, which it usually does. Now it's $100 cheaper, and they would have lost a foturne. Is there some law that compels them to buy gold? If I had a gold shop, I would have shut my doors until the price settled down. Once gold stabilizes above $2000, there won't be a problem selling it. 3 Link to comment Share on other sites More sharing options...
Liverpool Lou Posted March 12, 2022 Share Posted March 12, 2022 9 hours ago, JensenZ said: On 3/7/2022 at 9:46 PM, Liverpool Lou said: You think that he can demand that the shops buys his gold just because they've made a sale to another customer? You don't really think that a chain of gold shops is short of money, do you? They're just restricting the quantities of gold that they want to buy per customer, by the sound of it. Expand You don't think there's a possibility there could be a cash shortage when gold reaches nearly record highs? Absolutely not, when gold prices are on the rise there's likely to be more cash available, not less, to allow for purchases that they wish to make. Gold shop chains/owners are never likely to be short of cash and would always, easily, be able to cover the small amount of gold you wanted them to buy...if they chose to buy it. Just because they didn't want to buy the quantity you had for sale doesn't mean that their liquidity should be questioned! Link to comment Share on other sites More sharing options...
JensenZ Posted March 12, 2022 Share Posted March 12, 2022 (edited) 7 hours ago, Liverpool Lou said: Absolutely not, when gold prices are on the rise there's likely to be more cash available, not less, to allow for purchases that they wish to make. Gold shop chains/owners are never likely to be short of cash and would always, easily, be able to cover the small amount of gold you wanted them to buy...if they chose to buy it. Just because they didn't want to buy the quantity you had for sale doesn't mean that their liquidity should be questioned! When gold reaches record levels, the fever for people to sell is extreme. No one is buying gold at record levels, so why would expect a gold shop to empty their bank accounts to buy huge quantities of gold at record prices. So yes, a cash shortage would be fully expected in panic-selling situations. In fact, a complete halt on the buying and selling of gold is what I would have expected in this week's situation (especially on Tuesday to Wednesday). This week's candle was approximately $115. That's extreme. I don't know the regulations in Thailand, but I would expect that most gold shops would stop buying it as anyone who follows the gold market knows that after a huge leap in price, a substantial pullback is expected. The week before gold shot up and then dropped $100. I know one thing, the updating of gold price at gold shops was well behind the spot price. They were playing a slow game. Stock markets have "circuit breakers" which trip in situations of panic-selling and panic-buying: What Is a Circuit Breaker? The term "circuit breaker refers" to an emergency-use regulatory measure that temporarily halts trading on an exchange. Circuit breakers attempt to curb in panic-selling and can also be triggered on the way up with manic-buying. They are commonly used for individual securities as well as broad market indexes like the S&P 500. Circuit breakers function automatically by stopping trading when prices hit predefined levels in exchanges around the world. Gold shops are not charity organisations. They are in the business of making money. They know what to do when panic-selling strikes. Edited March 12, 2022 by JensenZ Link to comment Share on other sites More sharing options...
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