Where Is Gold Going In This Market

[thailandcalling]

I need some advice from the experts!

If you had 50,000 USD now would you invest it in gold? What about in K Banks K-Gold Fund?

a) Yes and no.

Buy physical gold, bars or bullion (not jewellery).

Why - with continued economic and financial conditions in Euro and US, concerns about China economy.

Yes I agree buy physical as it's outside of the system

But as for bullion bars & jewellery It's possible at a later date a tax is put on investment gold i.e bullion bars. I think it would be much harder to do that with jewellery here in Thailand.

Maybe a bit of both just a thought.

Edited June 30, 2011 by thailandcalling

[clinique]

reason i dont suggest jewellery is it is sold at a premium for the "working" and you dont recover this.

mind you if it doubles in price who cares.

[london]

Buy gold now ?

It depends on what return you are looking for.

As for me, I bought a few years back and sold the remainder last year at around $1,100 per oz. I am happy.

How far can it go? Well, thats the million dollar question. I can't see the potential rise from $1,500 to be enough to satisfy the risk/return involved.

[flying]

Buy gold now ?

It depends on what return you are looking for.

As for me, I bought a few years back and sold the remainder last year at around $1,100 per oz. I am happy.

How far can it go? Well, thats the million dollar question. I can't see the potential rise from $1,500 to be enough to satisfy the risk/return involved.

Like you I bought years ago at $738/oz ....But I have not sold.

I also bought a large amount of Silver at $9.45/oz that I have since swapped into gold at various swap ratios equal to buying gold at less than $500/oz & now am for the first time in 3 years without silver

But as to not seeing any potential above $1500? Well I have no idea but will note folks were saying the same when I bought at $738

Folks also called an end to it at $1000 perhaps that is why you sold there?

All I do know is the reasons I went into gold back then remain intact today. When those reasons change I too will sell.But that day has not come.....in fact quite the opposite as the reasons have only all been reinforced.

Edited June 30, 2011 by flying

[london]

Buy gold now ?

It depends on what return you are looking for.

As for me, I bought a few years back and sold the remainder last year at around $1,100 per oz. I am happy.

How far can it go? Well, thats the million dollar question. I can't see the potential rise from $1,500 to be enough to satisfy the risk/return involved.

Like you I bought years ago at $738/oz ....But I have not sold.

I also bought a large amount of Silver at $9.45/oz that I have since swapped into gold at various swap ratios equal to buying gold at less than $500/oz & now am for the first time in 3 years without silver

But as to not seeing any potential above $1500? Well I have no idea but will note folks were saying the same when I bought at $738

Folks also called an end to it at $1000 perhaps that is why you sold there?

All I do know is the reasons I went into gold back then remain intact today. When those reasons change I too will sell.But that day has not come.....in fact quite the opposite as the reasons have only all been reinforced.

You are probably correct.....but I always act by gut instinct.

I actually first bought into gold at $325. I started to sell at $800. Sold out completely at $1100. Honestly, my feeling is telling me "why buy" ? Thats really the reason why I am out of it.

You have done well on Silver...well spotted too.

Now I am holding $AUD, $SIN, IRP, and some small amount of Malaysian Ringgit. I am most bullish on the IRP and have been investing there now over the last 3 years. Anyway, thats irrelevant to this topic.

Just thought I'd declare my hand.

[edgarfriendly]

by $SIN do you mean SGP?

and whats IRP? did u mean INR/ indian rupee?

i just picked up 25bt at 21,920.

still no advice regarding local silver....?

ef

[london]

by $SIN do you mean SGP?

and whats IRP? did u mean INR/ indian rupee?

i just picked up 25bt at 21,920.

still no advice regarding local silver....?

ef

Hi,

$SIN I mean Singapore Dollar

IRP = Indonesian Rupea. (I am VERY bullish on it, rightly or wrongly)

Interesting about Indian rupee.....but I haven't bought any.

I am also holding some Yuan......but not of any real value.

[edgarfriendly]

that'll be SGD's and IDR's then...hmmm.

ef

[Naam]

Hi,

$SIN I mean Singapore Dollar

IRP = Indonesian Rupea. (I am VERY bullish on it, rightly or wrongly)

Interesting about Indian rupee.....but I haven't bought any.

I am also holding some Yuan......but not of any real value.

you can't hold INR offshore.

[Naam]

IRP IDR = Indonesian Rupea. (I am VERY bullish on it, rightly or wrongly)

cash IDR (like INR) can neither be bought nor held offshore. IDR denominated bonds are available offshore but a 20% withholding tax applies. IDRUSD bought 2½ years ago generated indeed fat profits. but that's water under the bridge.

Edited July 1, 2011 by Naam

[12DrinkMore]

Gold "ATM" now in the UK.

http://www.telegraph.co.uk/finance/personalfinance/investing/gold/8609976/UK-unveils-first-ATM-for-gold-at-Westfield-Shopping-Centre.html

Must be for the "gold plated pensions" public service "on early retirement" lot.

[london]

IRP IDR = Indonesian Rupea. (I am VERY bullish on it, rightly or wrongly)

cash IDR (like INR) can neither be bought nor held offshore. IDR denominated bonds are available offshore but a 20% withholding tax applies. IDRUSD bought 2½ years ago generated indeed fat profits. but that's water under the bridge.

Water under the bridge it may be, but as I said "and have been investing there now over the last 3 years".

I make no claims apart from sharing info as to what I have been doing. Also, FYI, I invest IN Indonesia.

[churchill]

Stunning Plunge in COMEX Commercial Gold Net Short Futures

Lowest relative commercial net short position to total open interest since 2008 panic for silver futures.

Accelerated pace of commercial short covering.

'For whatever reasons, the largest hedgers and short sellers of gold and silver futures have used the recent declines in the price of gold and silver to get a great deal “smaller” in their net short bets – and in a New York hurry as evidenced in the very important graphs shown.

Most anything can happen over the very short term, but historically very large, abrupt changes in commercial net short positioning have been like klaxons sounding for experienced traders to “get to battle stations.” These are indeed just the kind of very large changes of which we speak.

For silver specifically, the very low level of commercial net short positioning suggests that the Big Sellers of silver futures are not at all confident in lower silver prices just ahead. Notice that as the LCNS:TO reached the lowest levels on the graph above it almost always coincided with lows in the price of silver or very near them.

We certainly cannot say that the Big Sellers of silver futures are positioning as though THEY think that silver is set to plunge further - to the contrary. The Big Sellers are net buyers here - at a pretty fast clip, not net sellers.'

.. http://www.gotgoldreport.com/2011/07/stunning-plunge-in-comex-commercial-gold-net-short-futures.html#more

[Naam]

We certainly cannot say that the Big Sellers of silver futures are positioning as though THEY think that silver is set to plunge further - to the contrary. The Big Sellers are net buyers here - at a pretty fast clip, not net sellers.'

and that dear children is the truth, the whole truth and nothing but the truth. why would we from gotgoldreport.com publish anything biased pro silver and gold? isn't it a logical conclusion and an established fact that since stone age "big sellers were and are net buyers"?

[flying]

You know the whole "Gold is Gone" stories about Fort Knox & the US gold holdings.

Recently with the arrest of Strauss-Kahn there was the story that he had evidence of the

gold having been lent out & sold for the most part.

What I did not know is in his recounting of the events he did confide in his close friend and top Egyptian banker Mahmoud Abdel Salam Omar

So it was a bit surprising to see later this man was also arrested just weeks after Strauss for basically the exact same type of crime??? This Mahmoud Abdel Salam Omar is 74 years old & a devout Muslim

http://www.huffingtonpost.com/2011/05/31/mahmoud-abdel-salam-omar-arrested_n_868886.html

Not that any of it matters in the big picture & not to add to any conspiracy theories but it all does seem a bit odd eh?

I only recently heard about Mahmoud Abdel Salam Omar being charged. It also all coincides with the time Ron Paul said the US should sell the gold. Something very outside of character for RP. At the time I had wondered if it was his way of exposing something.

Edited July 2, 2011 by flying

[midas]

Utah became the first state in the country this month to legalize gold and silver coins as currency

http://hosted.ap.org/dynamic/stories/U/US_BACK_TO_GOLD?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2011-05-22-15-23-20

the usual rubbish from across the ocean. nobody will be able to walk into a WinnDixie or Publix in Salt Lake City and pay for his steaks and vegetable with a Krüger Rand or a Maple Leaf.

next!

UPDATE on the situation

http://soundmoneycenter.org/interactive-map-of-state-initiatives/

[jazzed]

If you had 50,000 USD now would you invest it in gold? What about in K Banks K-Gold Fund?

Yes I would invest in gold and some in silver. USD is going to keep depreciating in value. In fact, all fiat (paper) currencies will keep depreciating -- and at a faster rate -- so you want to preserve the purchasing power of your assets. Think of gold/silver not as a commodity. THEY ARE MONEY specially gold.

Look at it this way: how much does it cost to fill up your tank? USD100? That's about 2 silver coins at today's rates. In 2 years, oil (and other commodities) will be so expensive. USD100 may not even get you 1/2 tank. But 2 silver coins certainly will.....and probably even more. We have to stop thinking in terms of "dollar values". It's going to be meaningless because of the way the Fed has devalued the Dollar because of reckless printing.

HOW TO INVEST

Yes you can buy physical (I have) but also consider either Bullionvault.com or Goldmoney.com

You would be buying physical but they store for you (and with the amount you're buying, the storage fee is acceptable) When you sell, they wire money back to your bank account within 2 days. You also have the choice to vault your bullion in zurich, HK, london etc. This is an added security because in the event of things falling apart, you want your bullion in different territories. You can also move your holdings from gold-to-silver & vice versa within your accounts.

Paul Tustain (Bullionvault) and James Turk (goldmoney) are 2 of the "good guys". You can trust them when they say they actually have the physical bullion you're buying, unlike HSBC, JP Morgan, CME and all the other shysters. I also trust Eric Sprott's funds but their premium is high. I have accounts with both of the above. But I prefer Goldmoney mainly because James Turk is such a nice guy!

Back to your original question: there are many reasons why I would

[ExpatJ]

If you had 50,000 USD now would you invest it in gold? What about in K Banks K-Gold Fund?

Yes I would invest in gold and some in silver. USD is going to keep depreciating in value. In fact, all fiat (paper) currencies will keep depreciating -- and at a faster rate -- so you want to preserve the purchasing power of your assets. Think of gold/silver not as a commodity. THEY ARE MONEY specially gold.

Look at it this way: how much does it cost to fill up your tank? USD100? That's about 2 silver coins at today's rates. In 2 years, oil (and other commodities) will be so expensive. USD100 may not even get you 1/2 tank. But 2 silver coins certainly will.....and probably even more. We have to stop thinking in terms of "dollar values". It's going to be meaningless because of the way the Fed has devalued the Dollar because of reckless printing.

HOW TO INVEST

Yes you can buy physical (I have) but also consider either Bullionvault.com or Goldmoney.com

You would be buying physical but they store for you (and with the amount you're buying, the storage fee is acceptable) When you sell, they wire money back to your bank account within 2 days. You also have the choice to vault your bullion in zurich, HK, london etc. This is an added security because in the event of things falling apart, you want your bullion in different territories. You can also move your holdings from gold-to-silver & vice versa within your accounts.

Paul Tustain (Bullionvault) and James Turk (goldmoney) are 2 of the "good guys". You can trust them when they say they actually have the physical bullion you're buying, unlike HSBC, JP Morgan, CME and all the other shysters. I also trust Eric Sprott's funds but their premium is high. I have accounts with both of the above. But I prefer Goldmoney mainly because James Turk is such a nice guy!

Back to your original question: there are many reasons why I would

Thanks very useful- ill look into both..

[Naam]

Utah became the first state in the country this month to legalize gold and silver coins as currency

http://hosted.ap.org/dynamic/stories/U/US_BACK_TO_GOLD?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2011-05-22-15-23-20

the usual rubbish from across the ocean. nobody will be able to walk into a WinnDixie or Publix in Salt Lake City and pay for his steaks and vegetable with a Krüger Rand or a Maple Leaf.

next!

UPDATE on the situation

http://soundmoneycenter.org/interactive-map-of-state-initiatives/

i don't see much update Midas. no supermarket mentioned

[Naam]

Paul Tustain (Bullionvault) and James Turk (goldmoney) are 2 of the "good guys". You can trust them when they say they actually have the physical bullion you're buying, unlike HSBC, JP Morgan, CME and all the other shysters. I also trust Eric Sprott's funds but their premium is high. I have accounts with both of the above. But I prefer Goldmoney mainly because James Turk is such a nice guy!

[churchill]

Special Report on Gold - Erste Group

http://www.scribd.com/fullscreen/59283769

[jazzed]

Special Report on Gold - Erste Group

The guy who compiled that report, Ronald-Peter Stoferle, spoke with James Turk not long before it was published. This interview (and other excellent ones) are available on the goldmoney.com research site. In particular listen to Egon von Greyerz's interview. Egon runs goldswitzerland.com (the metals arm of Matterhorn Asset Mgt) another dependable way to invest in physical...only thing is they have a "minimum amount" requirement.

http://www.goldmoney.com/video/stoferle-interview.html

[churchill]

Europe's Elusive Gold Reserves: Are Greece, Portugal Sitting on Billions of Dollars?

Read more: http://www.time.com/time/world/article/0,8599,2080813,00.html#ixzz1RDXgQM4G

[churchill]

Special Report on Gold - Erste Group

http://www.scribd.com/fullscreen/59283769

from the report

'It seems that the Silver Libertad initiated by Hugo Salinas-Price has the biggestchances of gaining a foothold in the monetary system.

The draft law for the monetisationof the silver coin is currently under scrutiny by the Mexican legislative authority. But since theLibertad has no value engraved, it cannot (yet) be used for day-to-day transactions. Shouldthe initiative get approval (which is likely at the moment since all parties support it) theMexican central bank would quote a price that cannot be depreciated'

I wonder if the recent purchase of 'Mexico ups gold reserves by over 90 tonnes in two months' http://www.reuters.com/article/2011/05/04/mexico-gold-idUSLDE7431OZ20110504

is linked ...

The Silver Peso 0.720 Fine And The Libertad Ounce Compared

http://www.gold-eagle.com/editorials_08/salinas062411.html

[cloudhopper]

This interview may be of interest to PM enthusiasts -

http://www.chrismartenson.com/blog/eric-sprott-paper-markets-are-joke-prepare-bullion-prices-go-supernova/60155

[churchill]

Silver is looking stronger ..so .. Are the big Sellers now Buying ?

Solar energy demand sets price floor for silver at $35

http://www.commodityonline.com/news/Solar-energy-demand--sets-price-floor-for-silver-at-$35-40401-3-1.html

It’s All About Inventories

http://www.bullionbullscanada.com/index.php?option=com_content&view=article&id=21610:silver-its-all-about-inventories&catid=49:silver-commentary&Itemid=130

[churchill]

Kingsgate Thai gold mine expansion to see raised output from September

Kingsgate's Chatree gold mine in Thailand is well on its way to up production to 200,000 oz/y with first new output from expansion program due in September.

'The Kingsgate CEO said global gold production had virtually flat-lined in the past decade. "We hit peak gold ten years ago and we cannot find enough gold to satisfy the demand side," he said.

Mr Thomas welcomed last weekend's democratic change in government in Thailand as it would bring added investment stability and reduced sovereign risk.'

......

http://www.mineweb.com/mineweb/view/mineweb/en/page34?oid=130833&sn=Detail&pid=34

[glennoz]

Kingsgate Thai gold mine expansion to see raised output from September

Kingsgate's Chatree gold mine in Thailand is well on its way to up production to 200,000 oz/y with first new output from expansion program due in September.

'The Kingsgate CEO said global gold production had virtually flat-lined in the past decade. "We hit peak gold ten years ago and we cannot find enough gold to satisfy the demand side," he said.

Mr Thomas welcomed last weekend's democratic change in government in Thailand as it would bring added investment stability and reduced sovereign risk.'

......

http://www.mineweb.c...n=Detail&pid=34

HOPE he is right i bought in at gfc at $2.37 seen it go up to $12,now about $8,waiting for it to go up again so i can spend 6 months in thailand with family again ,this is first time i ever bought shares whats other peoples thoughts as to where kingsgate or gold is headed.

cheers

[Naam]

"We hit peak gold ten years ago and we cannot find enough gold to satisfy the demand side,"

[edgarfriendly]

whats gfc?

ef