Gold Price Hits New High Today

[Jai Dee]

Gold price hits new high today

The Gold Traders Association of Thailand announces today (January 4th) that one baht of gold ornament, or 15.2 grams of gold, is bided at 13,310.48 baht and offered at 14,000 baht. At the same time, a gold bar is bought at 13,500 baht and sold at 13,600 baht.

Meanwhile, the gold price in the United States has soared to 869.10 US dollars per ounce, increasing by 9.10 US dollars, or 1.1 percent due to the depreciating US currency and inflation rates.

Source: Thai National News Bureau Public Relations Department - 04 January 2008

[Payboy]

bided

gold on a high - while the national news bureau prd reaches new depths

[makescents]

Great for those of us engaged getting read to marry.

MC

[Martin]

"The Greenback will slide. There is little doubt about that. The argument is by how much and how quickly.

Only time will tell.

The OP mentioned getting into gold. Forget other currencies, get into physical gold.

When the $ does decline, gold will glitter. "

The above posting was made by 'Mighty Mouse' on 09 July 2006.

I think he has the right to re-appear and tell us: "I told you so."

It was a thread entitled "Get out of $dollars$ now". Things haven't happened as fast or as fiercely as the OP of the thread predicted (largely because the Japaneses carry trade hasn't (yet?) gone for a Burton). No dramatic collapse of the US$ (yet?); more like a slow-motion mudslide.

But that thread was a useful wake-up call to those of us who were provoked into thinking of keeping some of our savings in physical gold. Especially as it is so easy to do it in Thailand.

[maxcrc]

Selling $ now would be very stupid.

You should have sold $ in 2002 not now.

Now it is almost time to re-buy $

You need to sell expensive and buy cheap.

It is very stupid and pointless to sell cheap and buy expensive

That s why so many small "investors" get ruined. They simply do the wrong things, just the opposit of what it should be done.

[Scott]

So is it a good idea to buy gold? Gold always seems to keep it's value--any thoughts?

[Meerkat]

Selling $ now would be very stupid.

You should have sold $ in 2002 not now.

Now it is almost time to re-buy $

You need to sell expensive and buy cheap.

It is very stupid and pointless to sell cheap and buy expensive

That s why so many small "investors" get ruined. They simply do the wrong things, just the opposit of what it should be done.

Upon what basis do you consider the USD to be undervalued against its peers to the extent that it would be "very stupid" to sell it now? One might have missed the top, but why might it not continue its broad decline?

[cclub75]

Selling $ now would be very stupid.

You should have sold $ in 2002 not now.

Now it is almost time to re-buy $

You need to sell expensive and buy cheap.

I'm always astonished by this way of thinking. Reminds me the "Great Reich that will last 1000 years"... This very human difficulty to understand that everything has an end is quite disturbing.

What datas allow you to think that a currency is "just" a "normal good" with "classic cyclical behavior" ?

History shows that fiat currencies have... a life span. Some might last more than other, but they are basically... disposable goods.

On the other hand, gold has a much longer history... I mean a real one. But USD ? A mere toilet paper.

[maxcrc]

Well if you all want to lose money I dont care a s....

Fortunately I have never missed an economic forecast in the past 5 years . I sold all my $ in July 2002 (when people like you were saying dollar amazing strenght would last forever) and I will re-enter in the dollar area in a couple of months (when the same guys know they say the opposite) , consolidating a very big profit.

Even if the euro will rise some further , my profit will be a huge consolidated profit.

It is because people like you who buy things when there are at their highest prices and sell things when they are at lowest point,others make lots of money.

I have just given a piece of advice, if you feel "disturb" you can be free to lose, .. I make money and I will keeeping making money, it is no problem for me.

If you think gold is so good, think twice....after almost 3 decades it has reached the same peak it was before...(well, $5 more)

Do you know with inflation adjusted prices, the latest 1980 peak today would be more than $2000 ?

It is not only the buck to be affected by inflation, my friend,....think about it.

Edited January 4, 2008 by maxcrc

[maxcrc]

Selling $ now would be very stupid.

You should have sold $ in 2002 not now.

Now it is almost time to re-buy $

You need to sell expensive and buy cheap.

I'm always astonished by this way of thinking. Reminds me the "Great Reich that will last 1000 years"... This very human difficulty to understand that everything has an end is quite disturbing.

What datas allow you to think that a currency is "just" a "normal good" with "classic cyclical behavior" ?

History shows that fiat currencies have... a life span. Some might last more than other, but they are basically... disposable goods.

On the other hand, gold has a much longer history... I mean a real one. But USD ? A mere toilet paper.

you are naive.

this would be real in the world of dreams...

in 40 or so years gold will be a relic...just like oil...

there are a couple of dozens of big fish who decided gold would be up in these years and as soon as they will decide to sell (and make profits like crazy) --sell to people like you who always come 5 years late to buy the most expensive stuff in the market-- gold price will retreat again.

Look at the $ trend during the 3 past republican administrations.... that has been another planned devaluation by US Govt, just like previous Republican Administrations.

Edited January 4, 2008 by maxcrc

[maxcrc]

Selling $ now would be very stupid.

You should have sold $ in 2002 not now.

Now it is almost time to re-buy $

You need to sell expensive and buy cheap.

It is very stupid and pointless to sell cheap and buy expensive

That s why so many small "investors" get ruined. They simply do the wrong things, just the opposit of what it should be done.

Upon what basis do you consider the USD to be undervalued against its peers to the extent that it would be "very stupid" to sell it now? One might have missed the top, but why might it not continue its broad decline?

just missed the TOP ????

My friend, you are YEARS late....you should have bought gold at $400 or so ,.....that would have meant making a big profit....

I didn t buy gold, but I bought euros when they werent VERY MUCH lower than 1$.

I remember in 2002 guys like you (it is not meant to offend, of course !) were saying the dollar was SO strong and it was unstoppable and would destroy the euro, a currency without any future...

I was laughing at these stupidities and I bought euros when everybody was buying EXPENSIVE dollars thinking it was gonna rise forever....

Now after 5 and half years,,,history will repeat...

There are some principles in stock market and currency exchanges which is always advisable to learn and follow....

when everybody is selling ..just buy...when everybody is buying, just sell

If you buy and than sell and make profit,forget it and dont regret if the stuff will rise further :Keep the profit and switch to the next investiment .

anyway the $ can still be affected for awhile but the bottom is near.... I am not saying you have to buy $ dollars right now, but in a few months...obviously I don t mean you have to keep $ still in an account and gain nothing...I mean investing again in dollar area...

Edited January 4, 2008 by maxcrc

[rainman]

I have about 15 Baht of gold that nobody ever wears. The good news is that I bought it all when it was around 7000-7500 per Baht

[astral]

Gold always seems to keep it's value--any thoughts?

I remember reading that the price of a loaf of bread, expressed in gold, is the same now as it was 100 years ago.

[Meerkat]

just missed the TOP ????

My friend, you are YEARS late....you should have bought gold at $400 or so ,.....that would have meant making a big profit....

I didn t buy gold, but I bought euros when they werent VERY MUCH lower than 1$.

I remember in 2002 guys like you (it is not meant to offend, of course !) were saying the dollar was SO strong and it was unstoppable and would destroy the euro, a currency without any future...

I was laughing at these stupidities and I bought euros when everybody was buying EXPENSIVE dollars thinking it was gonna rise forever....

Now after 5 and half years,,,history will repeat...

Considering that I didn't give you any clue as to what my investment pattern has been, I have absolutely no idea how you came to the conclusion that 1) I'm years too late getting into gold (I've actually been long both precious and industrial metals for the last couple of years), and 2) that I have ever said that the USD was so strong and unstoppable.

If you read my post again, I simply asked you why you thought the USD was going to turn to the extent that it would be "stupid" to bet against it.

There are some principles in stock market and currency exchanges which is always advisable to learn and follow....

when everybody is selling ..just buy...when everybody is buying, just sell

If you buy and than sell and make profit,forget it and dont regret if the stuff will rise further :Keep the profit and switch to the next investiment .

anyway the $ can still be affected for awhile but the bottom is near.... I am not saying you have to buy $ dollars right now, but in a few months...obviously I don t mean you have to keep $ still in an account and gain nothing...I mean investing again in dollar area...

Interesting. Whilst the contrarian approach does - very occasionally - have some merit, my nigh-on 20 years in the interbank market (mostly interest-rate derivatives, but also FX and equity derivatives) has taught me 2 things:

1. Cut your losses and let your profits run. In practice I use trailing stops to protect those profits; buying an out-of-the-money put to protect a long position would also work, especially when the markets are whippy (rarely a bad thing to be long volatility in times like this). And,

2. The trend is your friend.

The few industry-professional contrarians I have known during my career have not remained industry professionals for all that long (or have dumped the contrarian trading method). Your mileage, of course, may vary.

[midas]

Selling $ now would be very stupid.

You should have sold $ in 2002 not now.

Now it is almost time to re-buy $

You need to sell expensive and buy cheap.

It is very stupid and pointless to sell cheap and buy expensive

That s why so many small "investors" get ruined. They simply do the wrong things, just the opposit of what it should be done.

Upon what basis do you consider the USD to be undervalued against its peers to the extent that it would be "very stupid" to sell it now? One might have missed the top, but why might it not continue its broad decline?

There is NOTHING to suggest or support the argument that the US Dollar

will ever my " mighty " again - quite the opposite so why would do that ?

[Naam]

I have about 15 Baht of gold that nobody ever wears. The good news is that I bought it all when it was around 7000-7500 per Baht

that does not mean much Rainman. the only thing that counts is the comparison respectively the answer to the question "what was the yield of other investments in the time span since you bought gold?"

[Naam]

On the other hand, gold has a much longer history... I mean a real one.

the undeniable history is that most investors who bought gold during the last three decades and tried to make a living exclusively from that investment have died because of starvation. the few survivors are living on welfare or try to make a living as beggars

disclaimer: i consider gold as something very beautiful when i see it on the neck, the wrists or the fingers of my wife. i hate the gold which i have bought over many years and which is kept in a bank locker

Edited January 5, 2008 by Naam

[maxcrc]

There are no clues ?

Yes, there are MANY for people who are skilled in economy and currencies.

Dollar recovering will not be fast for now....it will just bottom out.

Parity with euro will be reached in few years.

Wait little bit more.... there are still some turbolences (fuelled by speculators of course ) and be ready in few months.

in 2002 everybody was saying "there are no clues dollar strenght will slow. Euro has no future".

In 1992 everybody was saying "there are no clues dollar sliding will stop. Dollar is finished"

I was laughing and made money on this bullshit.

In Argentina BEFORE parity was broken I forecasted peso would stabilize at 3 for $.

After the "corralito" peso -fuelled by speculators_ fell to 4 for $ and people like you guys -who follow the trend- were saying it was gonna reach 30 (just serach in Internet in the archive newspapers).

Argentinians were queing HOURS to buy dollars at 4 pesos for 1 $ and I SOLD $20000 and got 80000 pesos .

After few weeks peso was again at 3 for 1 $ and I made about 25% profit .

easy easy eesy

it is SO easy to make money with market...when you know how to make it....

In July 2002 I BOUGHT euros when 99% of the people were saying euro was a failed currencies.

With mere $45000 (about 60000 euros) I bought a countryside house in Spain.

Now it worths about 200000 euros ($300000).

Same in Croatia. It was a funny medium-term investment.

30K euro bought and 95K sold in 14 months . Funny and easy.

If you follow the trend you will never have success.....it is up to you.....this is my advice, take it or discharge it .

May I just suggest you to look for a chart with EUR (or former ECU)/DOL trend in one window and the US Govt. administration term in the other Internet window ?

You will see how Republican Policy of devaluating the buck is so OBVIOUS.....and people still panick and worry about the end of the currency....

Big fish make LOTS of money with these economical cycles....small guys who come later and get panicked always lose...it is all on purpose...don t get into the same trap again !

I am not here to discuss with you guys, i just give my humble piece of advice.

Fortunatelly, I never failed a forecast in the past years and I am adamant to follow this way. For me nothing will change if you will buy gold or euros now. I will be sorry for you in few years,unless you want to buy now and sell in 1-2 months...but I think you are not looking for a short-term speculation.....

Edited January 5, 2008 by maxcrc

[BEENTHEREDONETHAT]

Bought gold back in the 80's at $800 an oz. still have it. Not one of my better investments. FRortunately it was only five krugerands, 1 oz ea. Oh well can't win them all. But it would be nice to break even once in a while.

[Naam]

Parity with euro will be reached in few years.

Max,

i have strong doubts that i live long enough to see the forecasted USD/€UR parity

[Naam]

Bought gold back in the 80's at $800 an oz. still have it. Not one of my better investments. FRortunately it was only five krugerands, 1 oz ea. Oh well can't win them all. But it would be nice to break even once in a while.

be patient. just wait a few hundred years and you might break even.

[ray08]

Gold and currency , ??

International trade has mainly been coducted in Usd$ eg Oil , gold price , silver , plus trading in other commodities and products ,but i have seen and i myslef this year have conveted all my invoicing to Euro , this is happening a lot in India as well , I beleive the decline in the worth of the Usd is a very long term trend in fact reccesion talks in America are very real , by taking the decision to conduct all international trade in Euro will have a great effect on the usd , and very hard to reverse ,I would not be supprised in the not too distant future , eg a few years, Oil and other commodities would trade in Euro , as the major currency

As for Gold the speculators have pushed it up very hard and are looking to hit the $1000 mark , short term gold is good but very dangereous territory as the underlying physical demand does not support the increase in price , For investing in gold , buying physical is a very expenive way to invest with little return ( money value ) if it goes up , to really make money in gold you have to trade Gold futures with little downpayment you can control a lot of gold , only problem is you can not only lose what you put in, but have a margin call to put more money if you bet wrong ,

In such a volatile market and with gold at such a crazy high , unless you really like a punt i would reccomend to stay away from gold it will drive you mad and can burn a hole in your pocket , As for the currency the Usd has been hit very hard and the new Sherrif on the block is the Euro

Edited January 5, 2008 by ray08

[maxcrc]

On the other hand, gold has a much longer history... I mean a real one.

the undeniable history is that most investors who bought gold during the last three decades and tried to make a living exclusively from that investment have died because of starvation. the few survivors are living on welfare or try to make a living as beggars

disclaimer: i consider gold as something very beautiful when i see it on the neck, the wrists or the fingers of my wife. i hate the gold which i have bought over many years and which is kept in a bank locker

That s obvious

In 1980 you needed $850 for a troy-ounce of gold. Yestarday (almost 28 YEARS LATER) they would give you the SAME DOLLARS (currently Undervalued dollars!) for this ammount.

How many commodities could you buy 28 years ago with $850 ?

But how many can you buy TODAY with the same $850 ?

Please, gold-lovers guys, answer this question.

Gold safe long-term INFLATION-PROOF investiment ? Come on !

if you want a LONG term investment (always prone to small losses in the short term- of course) look at:

-How much was 1 sqaure meter in New York City (or LAX, or Berlin, or Rome, or London, or Bangkok , ....) 28 YEARS AGO and how worth TODAY ? How many ZEROES more ?

The same EXACTLY thing would be : How many ounces for gold you needed 28 years ago and how many today to buy the same parcel of land ? What is the best inflation proof ? Gold or land ???

Please, forget about this yellow pigeon shit and get a SHARE of this planet. That s will be always the best.

Gold and $ are just the two sides of the same medal: If you understand the market revolution "new world order" after 1975 you will see the double-edge $-gold relationship.

Also, I suggest you to read the book ""How Long Will it Last ?". Read the book first and than take your decision. I only give you this piece of advice.

[maxcrc]

Parity with euro will be reached in few years.

Max,

i have strong doubts that i live long enough to see the forecasted USD/€UR parity

Why ? Are you terminal-ill ??

That s only my opinion, I dont pretend to be the mouth of the truth, but in 1992 when you needed 1.45 $ for 1 ECU ,everybody was saying the same thing.

Look at the past decades: Long declines of US $ which match with Republican Administration and shorter periods of strong $ during Democrats administration.

It is a Govt. Policy : it is not for the market. Market is an excuse. It was planned since Bush took office.

The first original plan was $ down until 1.33 for euro and gold at $800.

Later, they changed to 1.45 and $850. Latest was 1.5 and $900. Oil at $100.

There is still room for some losses coz Bernake and Trinchet have different monetary policies.

Trinchet is obsessed by inflation and he can sacrifice growth, Bernake is the opposite, he is very worry for low growth and let inflation pops up little bit ....so US benchmark may be cut again and if goes below the euro's it still may affect the buck for awhile, but again, we are near the bottom.... stay tunes in the following weeks and be prepared to take actions at the rightest moment.

[maxcrc]

Gold and currency , ??

International trade has mainly been coducted in Usd$ eg Oil , gold price , silver , plus trading in other commodities and products ,but i have seen and i myslef this year have conveted all my invoicing to Euro , this is happening a lot in India as well , I beleive the decline in the worth of the Usd is a very long term trend in fact reccesion talks in America are very real , by taking the decision to conduct all international trade in Euro will have a great effect on the usd , and very hard to reverse ,I would not be supprised in the not too distant future , eg a few years, Oil and other commodities would trade in Euro , as the major currency

As for Gold the speculators have pushed it up very hard and are looking to hit the $1000 mark , short term gold is good but very dangereous territory as the underlying physical demand does not support the increase in price , For investing in gold , buying physical is a very expenive way to invest with little return ( money value ) if it goes up , to really make money in gold you have to trade Gold futures with little downpayment you can control a lot of gold , only problem is you can not only lose what you put in, but have a margin call to put more money if you bet wrong ,

In such a volatile market and with gold at such a crazy high , unless you really like a punt i would reccomend to stay away from gold it will drive you mad and can burn a hole in your pocket , As for the currency the Usd has been hit very hard and the new Sherrif on the block is the Euro

I can agree on that. On long term AVERAGE $ vs. euro will be lower. It is already lower.

Think about highest $ peak in 1985 and in 2000. In 2000 $ peak was not even close to 1985 peak.

But current euro highest peak is already higher than 1992 former highest peak.

That s ok.

I am the first to agree on that:

But now I am talking about middle term cycles now.... those 5-8 years cycles I mean.

Next US $ highest peak will be reached in some years (4 to 6 years)and will be probaly NOT AS HIGH AS previous peak of 2000.

I dont know If I make myself understood.

Yes, LONG TERM euro will be higher vs. $. That s I agree and I have always told that.

But we cannot mix short,medium and long term trends...:Long term average is made by many medium-term cycles.

What I am saying now I believe we are almost at the end of one medium term cycle.

Edited January 5, 2008 by maxcrc

[pattayadave]

So is it a good idea to buy gold? Gold always seems to keep it's value--any thoughts?

Its not the gold you should buy but shares in the gold companies 1998 most mines in africa were producing gold at around $199- $250 most shut up shop when the gold fell.

mines are opening again with the reserves already proven and they are producing at roughly the same price.

bugs me to say this but look at the smaller aussie companies.

inside info has the gold hitting $1000 troy ounce by end of march

[ray08]

Gold and currency , ??

International trade has mainly been coducted in Usd$ eg Oil , gold price , silver , plus trading in other commodities and products ,but i have seen and i myslef this year have conveted all my invoicing to Euro , this is happening a lot in India as well , I beleive the decline in the worth of the Usd is a very long term trend in fact reccesion talks in America are very real , by taking the decision to conduct all international trade in Euro will have a great effect on the usd , and very hard to reverse ,I would not be supprised in the not too distant future , eg a few years, Oil and other commodities would trade in Euro , as the major currency

As for Gold the speculators have pushed it up very hard and are looking to hit the $1000 mark , short term gold is good but very dangereous territory as the underlying physical demand does not support the increase in price , For investing in gold , buying physical is a very expenive way to invest with little return ( money value ) if it goes up , to really make money in gold you have to trade Gold futures with little downpayment you can control a lot of gold , only problem is you can not only lose what you put in, but have a margin call to put more money if you bet wrong ,

In such a volatile market and with gold at such a crazy high , unless you really like a punt i would reccomend to stay away from gold it will drive you mad and can burn a hole in your pocket , As for the currency the Usd has been hit very hard and the new Sherrif on the block is the Euro

I can agree on that. On long term AVERAGE $ vs. euro will be lower. It is already lower.

Think about highest $ peak in 1985 and in 2000. In 2000 $ peak was not even close to 1985 peak.

But current euro highest peak is already higher than 1992 former highest peak.

That s ok.

I am the first to agree on that:

But now I am talking about middle term cycles now.... those 5-8 years cycles I mean.

Next US $ highest peak will be reached in some years (4 to 6 years)and will be probaly NOT AS HIGH AS previous peak of 2000.

I dont know If I make myself understood.

Yes, LONG TERM euro will be higher vs. $. That s I agree and I have always told that.

But we cannot mix short,medium and long term trends...:Long term average is made by many medium-term cycles.

What I am saying now I believe we are almost at the end of one medium term cycle.

Do you think , in the future commodites will be traded in Euro and not Dollars ?, Eg selling oil out of the middle east in Euro,s ,

At present i hold accounts in 4 currencies , Usd , Aud , Euro and Thb , due to being able to get around 7 % on Aud i think i will sit mainly on that currency for the short term ,

[VegasVic]

Selling $ now would be very stupid.

You should have sold $ in 2002 not now.

Now it is almost time to re-buy $

You need to sell expensive and buy cheap.

It is very stupid and pointless to sell cheap and buy expensive

That s why so many small "investors" get ruined. They simply do the wrong things, just the opposit of what it should be done.

Max, you can't reason with gold bugs, with those types of people gold is a religion not an investment Gold and oil have both had their run of irrational exuberance and with all the talk in the U.S. about tapping the stategic oil reserve (even though the administration denies it) it wouldn't surprise me to see that eventually happen, and if it did oil would receede to the $50-$60/bbl within a few weeks and gold would head back down below $600/ounce. With slowing economies in the U.S. and Europe and the ripple effects that will have worldwide in 2008, it should be easy to maintain oil at those lower levels (and gold along with it) for quite some time to come and with the lower inflation expectations that will bring, interest rates can fall and the world economic engine can continue!

[ding]

Selling $ now would be very stupid.

You should have sold $ in 2002 not now.

Now it is almost time to re-buy $

You need to sell expensive and buy cheap.

It is very stupid and pointless to sell cheap and buy expensive

That s why so many small "investors" get ruined. They simply do the wrong things, just the opposit of what it should be done.

Max, you can't reason with gold bugs, with those types of people gold is a religion not an investment Gold and oil have both had their run of irrational exuberance and with all the talk in the U.S. about tapping the stategic oil reserve (even though the administration denies it) it wouldn't surprise me to see that eventually happen, and if it did oil would receede to the $50-$60/bbl within a few weeks and gold would head back down below $600/ounce. With slowing economies in the U.S. and Europe and the ripple effects that will have worldwide in 2008, it should be easy to maintain oil at those lower levels (and gold along with it) for quite some time to come and with the lower inflation expectations that will bring, interest rates can fall and the world economic engine can continue!

As I recall, those same gold bugs warned about the .com bubble vis-a-vis crazy PE ratios. Then they warned of the hedge insanity in the credit arena. Contrast -the same media saying that Americans just need to keep spending and all will be well economically, is the same media saying Iraq had WMD and terra' camps.

Reason is not the domain of the pundits at all anymore.

[Naam]

Parity with euro will be reached in few years.

Max,

i have strong doubts that i live long enough to see the forecasted USD/€UR parity

Why ? Are you terminal-ill ??

my health is near perfect (considering my age). but being 64 my statistical life expectancy is another max 18 years (3 packs of Marlboro a day not taken into consideration)

disclaimer: i side with you and think we will soon have seen USD lows and i expect a slight recovery vs. €UR. i am wary however and have doubts that my view is correct as it is identical with the views of a bunch of famous @n@l-ysts and "gurus". years of experience have taught me that most of the time the majority of these "learned people" were wrong