Where Is Gold Going In This Market

[letitbe]

AARRRRGGGHHHH... i think Midas has started offloading too

AARRRRGGGHHHH... i think Midas has started offloading too

no it was me i sold 10 baht this afternoon because i needed some fiat stuff to buy some things. A pity but when needs must and we now simply convert all cash to gold and when we need cash to buy something just cash in a bit of it but were still adding to our horde. I think people should start quoting prices for large items such as land condos cars in fiat and onzs of gold.

[edgarfriendly]

Did gold really go down 25.70?

Yes. The stronger US Dollar was responsible for 8.70 of that drop.

Gold price Change due to Strengthening of USD

-8.70

Gold price Change due to Predominant Sellers

-17.00

Gold Price: Total Change

-25.70

Ouch... i knew i shoulda' waited

[soi41]

Find it quite amusing that this topic has 163.136 views and 6.660 replies. All on a forum, where the norm is: Where to find cheap housing, how to avoid the ATM-fee, how to stay in Thailand without money ? My guess is that 95% of the barstooltraders here, have never traded an ounce of gold. But as long as everyone keeps playing according to the unwritten rules of the wannabe goldexperts, you can keep this thread going for ever. Please do, good for a laugh !

[PCA]

Did gold really go down 25.70?

Yes. The stronger US Dollar was responsible for 8.70 of that drop.

Gold price Change due to Strengthening of USD

-8.70

Gold price Change due to Predominant Sellers

-17.00

Gold Price: Total Change

-25.70

Ouch... i knew i shoulda' waited

There are more shears than sheeps but still you can wear a nice necklace.

[flying]

Dollar continues today upward

A close above 79.70 would be a breakout according to a cyclist I read.

He is very long term bullish AU

Speaking of cyclist/TA I have read Cowan is a good one.

I have never read anything from him .....Anyone here has?

As always......I read cycles/TA things out of curiosity & have never traded/bought/sold

based on anything I read.

http://www.cycle-trader.com/index.html

Edited April 4, 2012 by flying

[mccw]

33,459£ physical kilo today

how low will it go?

[mccw]

And just the other day I was thinking 34 was attractive

[flying]

And just the other day I was thinking 34 was attractive

If your buying a Kilo at a time then the timing is nice to get right.

I am always amazed at the folks buying 5 or less ounces being so worried

about small changes.

I guess it depends on their premise for buying & term they see holding.

I am talking physical of course.

One option for someone like yourself is to buy in stages if you do not need the

brick. Then you can add on dips & feel better about your adjusted costs till you reach

the quantity you wanted.

Years ago I started with 10-15oz at a time when prices were 735/oz & bought quite a few times.

Later with silver swaps my gold cost was roughly at 680/oz

Edited April 4, 2012 by flying

[Naam]

I am always amazed at the folks buying 5 or less ounces being so worried about small changes

not all of us are rich people like you Flying

[Naam]

AARRRRGGGHHHH... i think Midas has started offloading too

its the Germans ! they want it back

Repatriate our Gold!

http://www.gold-acti...e/campaign.html

independent, full, neutral and physical audits of the gold hoards of the world´s central banks

it iss alvays ze Tchermanns kausing problems. vhy vould zey vont zeir gold back? perhaps to shoffel it to Grease, Portugal und Shpain for bell-outs? but zen, it iss better for zem to bell-out kountries instead of starting vorld vars.

[ronz28]

Another inverse head and shoulders on gold.

http://peterlbrandt.com/gold-chart-right-in-an-area-where-it-should-hold-fast/

For me, I just trade in and out of NUGT based on stochastics and support/resistance pivots.

[waza]

Another inverse head and shoulders on gold.

http://peterlbrandt....ould-hold-fast/

For me, I just trade in and out of NUGT based on stochastics and support/resistance pivots.

Looks like an inverse batman

[flying]

it iss alvays ze Tchermanns kausing problems. vhy vould zey vont zeir gold back? perhaps to shoffel it to Grease, Portugal und Shpain for bell-outs? but zen, it iss better for zem to bell-out kountries instead of starting vorld vars.

[midas]

you just can't stop the inevitable.....

Our bailed out banks are in process of going bust again

" Figures for Irish Permanent released the other day reveal what similar figures for AIB and Bank of Ireland indicated in the past few weeks. The mortgage book is unravelling. The negative equity, which up to this was being shouldered by the population, is now forcing people to miss payments."

http://www.davidmcwilliams.ie/2012/04/04/our-bailed-out-banks-are-in-process-of-going-bust-again

[Jayman]

http://www.mineweb.com/mineweb/view/mineweb/en/page33?oid=148870&sn=Detail&pid=110649

Are the gold and silver bulls clutching at straws?

Is now the time to get out of gold and silver? Increasingly, commentators are suggesting that the precious metals are in for a tough time, but should the investor pay any attention to them?

Author: Lawrence Williams

Posted: Thursday , 05 Apr 2012

[fletchsmile]

One for the short term chartists. Actually quite a reasonable article, with its other commentary on silver...

http://www.wealthwire.com/news/metals/2971?r=1

[churchill]

CNBC'S Gold expert Fartman flips flops .. yet again . Now he is only long gold in dong /

His fund must be a star performer given the air time he is given ...

now India is back from strike ..

'Trading closed with a premium of about 10 dollars for gold and about 12 cents for Silver compared to US close on Thursday.

Gold closed at the high of the day.'

https://www.kitcomm....ad.php?t=103155

so where are we going next week ..

Carnage vs. Calm

http://screwtapefile...ge-vs-calm.html

Edited April 7, 2012 by churchill

[Naam]

now India is back from strike ..

'Trading closed with a premium of about 10 dollars for gold and about 12 cents for Silver compared to US close on Thursday.

because India has introduced recently a 1% special tax on precious metals trading?

[KamalaDreamer]

now India is back from strike ..

'Trading closed with a premium of about 10 dollars for gold and about 12 cents for Silver compared to US close on Thursday.

because India has introduced recently a 1% special tax on precious metals trading?

You seem to have an answer to every question Mr Naam.

The questions that matter get deleted.

Never mind.

[Naam]

now India is back from strike ..

'Trading closed with a premium of about 10 dollars for gold and about 12 cents for Silver compared to US close on Thursday.

because India has introduced recently a 1% special tax on precious metals trading?

You seem to have an answer to every question Mr Naam.

The questions that matter get deleted.

Never mind.

most facts (like the one above) which i post are either ignored, negated or labelled negatively if they do not comply with resident prevailing wishful thinking. an undeniable fact is that India has introduced recently an additional tax which will not be scrapped because some "dreamer" posts the irrelevant and unwarranted comment "you seem to have an answer for every..."

The never-ending price hike of gold rates seems to have an adverse effect on gold traders following the additional taxes levied by the Union in this year’s Budget.

Speaking to reporters on Monday, S Venkatesh Babu, member of All India Gems and Jewellery Trade Federation (AIGJTF), said, “There has been a constant increase in our business. One per cent custom duty has been increased to 4 per cent, in addition to the 3 per cent central excise duty and 2 per cent of VAT. Likewise, when it comes to cash sales, 1 per cent for cash transactions of `2 lakh is being paid.”

“With this kind of decision, various illegal activities like smuggling and black markets will flourish, and affect middle class people who are already at the receiving end. They will suffer from price rise,” he warned.

http://ibnlive.in.co...879-60-119.html

[Jayman]

http://online.wsj.com/article/SB10001424052702303302504577327283295554276.html

India's gold jewelers call off strike, expecting tax rollback

NEW DELHI—India's gold-jewelry trade associations agreed Friday to end a weeks-long strike, after Finance Minister Pranab Mukherjee promised to look into scrapping newly implemented gold taxes.

Indian retailers have been on strike for 20 days, ever since the government declared in mid March that it would double import taxes on gold and impose excise taxes on most gold jewelry.

[Jayman]

http://www.saigon-gp.../2012/4/100611/

If gold isn't money, why did Vietnam just outlaw using it as such?

Restrictions on bullion-related businesses

As per a decree issued by the Prime Minister’s office on April 3, gold has been banned as a medium for exchange, along with seven bullion-related activities that will take effect from May 25.

Edited April 9, 2012 by Jayman

[Naam]

If gold isn't money, why did Vietnam just outlaw using it as such?

because it is not money. as simple as that

[flying]

If gold isn't money, why did Vietnam just outlaw using it as such?

because it is not money. as simple as that

Actually.......It is not currency

Or currency of the realm I should say

Edited April 9, 2012 by flying

[Naam]

India's gold jewelers call off strike, expecting tax rollback

right they are! a rational decision to expect a rollback. all over the world it is a well known fact that introduced taxes are most of the time rolled back and accompanied by a humble apology of the government which levied the tax

[churchill]

Gold crash on Fed tightening and euro salvation looks premature

http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/9193361/Gold-crash-on-Fed-tightening-and-euro-salvation-looks-premature.html

[Naam]

If gold isn't money, why did Vietnam just outlaw using it as such?

because it is not money. as simple as that

Actually.......It is not currency

Or currency of the realm I should say

it is neither. gold is nothing but a commodity with a fluctuating value like any other commodity, its price depends on offer and demand.

[Jayman]

If gold isn't money, why did Vietnam just outlaw using it as such?

because it is not money. as simple as that

Whether you consider it "money" or not doesn't change the fact that it was being used as money in Vietnam and the government has just outlawed it's use as such.

I'd be interested to hear what the official "Naam" definition of money actually is.

Consider that Iran, China, and India are exchanging it for goods and services.

I would argue that gold is being used as currency by definition.

Edited April 9, 2012 by Jayman

[Jayman]

If gold isn't money, why did Vietnam just outlaw using it as such?

because it is not money. as simple as that

Actually.......It is not currency

Or currency of the realm I should say

it is neither. gold is nothing but a commodity with a fluctuating value like any other commodity, its price depends on offer and demand.

And how does that differ from the paper money in your pocket?

[Naam]

I'd be interested to hear what the official "Naam" definition of money actually is.

a clear definition for "money" does not exist. goods and services can be and are paid for by a variety of "compensations" such as

-printed colourful paper,

-metal coins,

-metal pieces,

-promises to compensate at a later date,

-bartering/exchanging goods and/or services for other goods and/or services, e.g. repairing a car engine or providing sex... too numerous to list.

the value of all goods and services fluctuates depending on prevailing circumstances. should Pattaya restrict entry of single males and allow only husbands accompanied by their wives, the price for bar fines and short time will tumble into an abyss. like wise would the price of beer and booze tumble if only registered members of Alcoholics Anomymous were allowed to cross the city limits.