Popular Post snoop1130 Posted January 25 Popular Post Share Posted January 25 The Thai Gold Traders Association (GTA) disclosed a significant drop in gold prices, prompting those interested in purchasing to act quickly. The price of gold ornaments tumbled by 150 baht, comparing the closing price on January 24, which stood at 34,650 baht per baht-weight. Today the latest figures from the association’s website, reported at 9.06am, show a marked decrease in price. As of the first announcement today, the buying price for gold bars in the domestic market is 34,050 baht per baht-weight, with the selling price slightly higher at 34,150 baht. For gold ornaments, which are 96.5% pure, the buying price is at 33,442.96 baht per baht-weight, while the selling price is at 34,650 baht. Meanwhile, the global market price for gold, known as the Gold Spot, is currently at US$2,016.50 per ounce. In a detailed breakdown of today’s gold prices, the first announcement lists the following rates: for gold bars, the buying price is 34,050 baht per baht-weight, and the selling price is 34,150 baht. For gold ornaments, the buying price is 33,442.96 baht per baht weight, and the selling price is set at 34,650 baht. This substantial dip in prices reflects the volatility of the gold market, often influenced by a range of economic and geopolitical factors. It serves as a critical cue for investors and consumers alike, who look to gold as a safe-haven asset or a valuable addition to their assets. By Nattapong Westwood Caption: Photo by Zlaťáky.cz on Unsplash Full story: The Thaiger 2024-01-25 - Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Get our Daily Newsletter - Click HERE to subscribe 1 8 Link to comment Share on other sites More sharing options...
Popular Post novacova Posted January 25 Popular Post Share Posted January 25 Good time to buy gold, given that things are starting to flair up in the world. If things appear to change in the US elections in November, then expect the price to drop. 1 3 Link to comment Share on other sites More sharing options...
Popular Post JensenZ Posted January 25 Popular Post Share Posted January 25 Oh my goodness! Gold plummeted by 150 baht per baht weight of gold! The world is ending! This is the clearest example of trying to find news to fill up a news void. Gold is STILL currently close to record highs (spot price) and people are getting record prices for hoarded gold. 6 3 1 4 10 Link to comment Share on other sites More sharing options...
Popular Post KannikaP Posted January 25 Popular Post Share Posted January 25 (edited) 13 minutes ago, snoop1130 said: The price of gold ornaments tumbled by 150 baht, Plummet 0.435%? Edited January 25 by KannikaP 1 1 2 1 3 2 Link to comment Share on other sites More sharing options...
JensenZ Posted January 25 Share Posted January 25 2 minutes ago, novacova said: Good time to buy gold, given that things are starting to flair up in the world. If things appear to change in the US elections in November, then expect the price to drop. Gold is unpredictable and you can't expect it to do anything, but bear in mind that the 14-day ADR (Average Daily Range) of gold is around $25 per day. 1 1 Link to comment Share on other sites More sharing options...
Denim Posted January 25 Share Posted January 25 13 minutes ago, snoop1130 said: This substantial dip in prices reflects the volatility of the gold market, One persons ' substantial ' is anothers minor blip on a graph. 1 1 Link to comment Share on other sites More sharing options...
proton Posted January 25 Share Posted January 25 First time I bought it was 6k, last time 13k, I'll not be bothering Link to comment Share on other sites More sharing options...
JensenZ Posted January 25 Share Posted January 25 (edited) 6 minutes ago, KannikaP said: Plummet 0.435%? Yes, it's a joke, as the price of spot gold ranges about 1.25% per day on average. Edited January 25 by JensenZ 1 Link to comment Share on other sites More sharing options...
Artisi Posted January 25 Share Posted January 25 The sky is falling in....... We're all doomed...... 1 2 Link to comment Share on other sites More sharing options...
Popular Post soi3eddie Posted January 25 Popular Post Share Posted January 25 Many Thais are fixated on gold. Nothing like trying to spook the market into buying. They weren't telling people to "act" in the last few weeks when it was as low as 33,500 for gold bar (jewellry and ornaments lower). Glad I bought last year when it was much lower. I'll not be buying more (nor selling) as gold for me is a safety net in case there's a collapse in the banks. 2 1 Link to comment Share on other sites More sharing options...
novacova Posted January 25 Share Posted January 25 16 minutes ago, JensenZ said: you can't expect it to do anything I can and have 1 1 Link to comment Share on other sites More sharing options...
JensenZ Posted January 25 Share Posted January 25 3 minutes ago, soi3eddie said: Many Thais are fixated on gold. Nothing like trying to spook the market into buying. They weren't telling people to "act" in the last few weeks when it was as low as 33,500 for gold bar (jewellry and ornaments lower). Glad I bought last year when it was much lower. I'll not be buying more (nor selling) as gold for me is a safety net in case there's a collapse in the banks. The main driving forces for gold are interest rates and of course feelings of impending doom in the marketplace. The baht is weakening against the USD, countering a small drop in the price of gold. The Spot price of Gold plummeted by $55 on Jan 15 & 16 but it has since recovered nearly $20. They were a bit late with the news. 1 Link to comment Share on other sites More sharing options...
Popular Post JensenZ Posted January 25 Popular Post Share Posted January 25 5 minutes ago, novacova said: I can and have Well done! You have a 50/50 chance of being right. 1 3 Link to comment Share on other sites More sharing options...
soi3eddie Posted January 25 Share Posted January 25 5 minutes ago, JensenZ said: The main driving forces for gold are interest rates and of course feelings of impending doom in the marketplace. The baht is weakening against the USD, countering a small drop in the price of gold. The Spot price of Gold plummeted by $55 on Jan 15 & 16 but it has since recovered nearly $20. They were a bit late with the news. I bought branded cast bars from HuaSengHeng (one of the biggest, if not the biggest dealer) with many outlets in Yaowarat - and likely elsewhere. The HuaSengHeng Gold website has immediate spot prices and also a XAU/USD chart. It often seems that the Thai gold price in Thai Baht is out of kilter with rises and falls in the spot gold price in US Dollars. I've often thought there might be an arbitrage opportunity there but I've got other things to do. Link to comment Share on other sites More sharing options...
Popular Post retarius Posted January 25 Popular Post Share Posted January 25 Down 150 baht on a price of 34000 baht? Is that plummeting? A bit of hyperbole I think....someone wants to shift some excess gold. 1 2 Link to comment Share on other sites More sharing options...
sirineou Posted January 25 Share Posted January 25 38 minutes ago, JensenZ said: Oh my goodness! Gold plummeted by 150 baht per baht weight of gold! The world is ending! Dude you would have lost almost half of a percent on your investment!! You be destitute. 1 Link to comment Share on other sites More sharing options...
JensenZ Posted January 25 Share Posted January 25 (edited) 10 minutes ago, soi3eddie said: I bought branded cast bars from HuaSengHeng (one of the biggest, if not the biggest dealer) with many outlets in Yaowarat - and likely elsewhere. The HuaSengHeng Gold website has immediate spot prices and also a XAU/USD chart. It often seems that the Thai gold price in Thai Baht is out of kilter with rises and falls in the spot gold price in US Dollars. I've often thought there might be an arbitrage opportunity there but I've got other things to do. Considering the $25 ADR (14-day) of gold, which is about an 850 baht range, and roughly 420 baht per half ounce (15.16g of 96.5% purity), they cannot constantly adjust the price too frequently. Here is my go-to site for the price in Thailand: https://www.gcap.co.th/gcapgold/home.php I always check there before buying or selling. I bookmarked your site too - good to have a few. Edited January 25 by JensenZ 1 Link to comment Share on other sites More sharing options...
Lacessit Posted January 25 Share Posted January 25 When it gets back to 18,000 baht, I'll get excited. I sold out at 25,000. The OP is reminiscent of the stock pumping that goes on in sharemarkets. Link to comment Share on other sites More sharing options...
connda Posted January 25 Share Posted January 25 150 THB - Plummet? (laughs) Link to comment Share on other sites More sharing options...
Walker88 Posted January 25 Share Posted January 25 8 hours ago, novacova said: Good time to buy gold, given that things are starting to flair up in the world. If things appear to change in the US elections in November, then expect the price to drop. Yes, if trump is jailed and Biden re-elected, the good times (+3.3% GDP just announced) will continue and gold price will drop. 2 Link to comment Share on other sites More sharing options...
BenStark Posted January 25 Share Posted January 25 12 minutes ago, Walker88 said: Yes, if trump is jailed and Biden re-elected, the good times (+3.3% GDP just announced) will continue and gold price will drop. Are weapon sales included in GDP? Asking for a friend 2 Link to comment Share on other sites More sharing options...
Walker88 Posted January 25 Share Posted January 25 31 minutes ago, BenStark said: Are weapon sales included in GDP? Asking for a friend Are you feeling fearful? I understand those maga types are particularly violent people. Look what they did to police at the Capitol. Too bad only one of them got a double tap. I wonder where Kyle Rittenhouse was? I thought he was big on protecting cops. He could have gone to DC and gunned down those maga terrorists. 1 2 Link to comment Share on other sites More sharing options...
Nick Carter icp Posted January 25 Share Posted January 25 4 minutes ago, Walker88 said: Are you feeling fearful? I understand those maga types are particularly violent people. Look what they did to police at the Capitol. Too bad only one of them got a double tap. I wonder where Kyle Rittenhouse was? I thought he was big on protecting cops. He could have gone to DC and gunned down those maga terrorists. Leave them alone, stop picking on them, I hate bullies 1 Link to comment Share on other sites More sharing options...
anyone Posted January 25 Share Posted January 25 9 hours ago, soi3eddie said: ...collapse in the banks. Do you already have a bomb shelter? LOL Link to comment Share on other sites More sharing options...
hotchilli Posted January 25 Share Posted January 25 13 hours ago, soi3eddie said: Many Thais are fixated on gold. Nothing like trying to spook the market into buying. They weren't telling people to "act" in the last few weeks when it was as low as 33,500 for gold bar (jewellry and ornaments lower). Glad I bought last year when it was much lower. I'll not be buying more (nor selling) as gold for me is a safety net in case there's a collapse in the banks. Correct... gold shops trying to coerce people into buying before it drops more. 1 1 Link to comment Share on other sites More sharing options...
BritManToo Posted January 26 Share Posted January 26 14 hours ago, snoop1130 said: The Thai Gold Traders Association (GTA) disclosed a significant drop in gold prices, prompting those interested in purchasing to act quickly. The price of gold ornaments tumbled by 150 baht, comparing the closing price on January 24, which stood at 34,650 baht per baht-weight. Is a 0.3% drop all that significant? Link to comment Share on other sites More sharing options...
RayOday Posted January 26 Share Posted January 26 1 Link to comment Share on other sites More sharing options...
Popular Post BenStark Posted January 26 Popular Post Share Posted January 26 6 hours ago, Walker88 said: Are you feeling fearful? I understand those maga types are particularly violent people. Look what they did to police at the Capitol. Too bad only one of them got a double tap. I wonder where Kyle Rittenhouse was? I thought he was big on protecting cops. He could have gone to DC and gunned down those maga terrorists. And how is your answer related to my question? By the way, i must have hit a nerve, as you have been going through my posts and replying to them. Maybe fearful about what you are seeing in the GOP primaries, knowing that the US next January will be Trump ruled again. 1 1 1 1 Link to comment Share on other sites More sharing options...
Popular Post Ricky HKT Posted January 26 Popular Post Share Posted January 26 Gold has been holding above $2000/oz for a couple months now. (Seems like $2K is the new support level). Small moves are just noise. Gold is a LONG TERM (years) investment in my opinion. You should do better holding than the paltry interest rates paid by the banks these days. I hold, and am pondering buying more. Yes, gold is held for emergencies. 3 Link to comment Share on other sites More sharing options...
huangnon Posted January 26 Share Posted January 26 16 hours ago, soi3eddie said: Many Thais are fixated on gold. Nothing like trying to spook the market into buying. They weren't telling people to "act" in the last few weeks when it was as low as 33,500 for gold bar (jewellry and ornaments lower). Glad I bought last year when it was much lower. I'll not be buying more (nor selling) as gold for me is a safety net in case there's a collapse in the banks. Yep, a long term investment and maybe hedge against a financial crash. "Gold is money, everything else is credit" -JP Morgan. 1 Link to comment Share on other sites More sharing options...
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