Where Is Gold Going In This Market

[flying]

by here please say where here is ive been trying to find a source all over BKK for some time for 99.99% silver coins or bars.

Sorry when I said here I meant the US

But I am rather surprised about Thailand.

Although I have not looked I thought Thailand

had quite a few Silver shops in Chiang Mai?

If so I would guess BKK too.

Edited October 2, 2011 by flying

[flying]

Nice Bar

http://www.wenxuecity.com/news/2011/10/01/1486532.html

块大金条出现在江苏南京新街口一家商场内，配备了两个保安持枪现场保护。据现场工作人员介绍，这块“金条王”总重为99.999公斤，目前全国仅有一块，且纯度、重量都创下历史纪录。

Translation: Big gold bars appear within a shopping centre in Jiangsu Nanjing Xinjiekou, equipped with two guns for security protection. According to field staff, this "Bullion King" 99.999 kg total weight, at present only one, and purity, weight record.

(That’s one-tenth of a tonne, or 3,215 troy ounces)

Beautiful workmanship

Edited October 3, 2011 by flying

[midas]

Nice Bar

http://www.wenxuecity.com/news/2011/10/01/1486532.html

that looks just like something Naam would buy to match his carpets

[churchill]

Qatari wealth fund plans $10bn gold buying spree

http://www.telegraph.co.uk/finance/personalfinance/investing/gold/8802793/Qatari-wealth-fund-plans-10bn-gold-buying-spree.html

[cloudhopper]

Caution - link to ZH

http://www.zerohedge.com/news/nomura-explains-why-gold-went-down-and-why-it-going-back

[flying]

Tightening the Noose: France Bans Cash Sales of Gold/Silver Over $600

[letitbe]

by here please say where here is ive been trying to find a source all over BKK for some time for 99.99% silver coins or bars.

Sorry when I said here I meant the US

But I am rather surprised about Thailand.

Although I have not looked I thought Thailand

had quite a few Silver shops in Chiang Mai?

If so I would guess BKK too.

silver no problem but thats jewellery and not a lot of use as investment silver I mean proper usa eagles etc. I used to buy silver jewelry here at around 7 baht a gram for sterling 925 silver which was about 5% above spot for workmanship. I wholesaled it in USA and Italy for years and bought around 400kg a year before i closed the business but in those days i paid any tax duties on inport to USA UK and italy and got that back via vat methods. Not same at all . Gold here is great 100 baht buy sell spread per baht of gold. A Baht is about 15.22 onz gold 96.% pure.

So anyone where can i buy investment silver here in Bangkok I mean eagles maples and rest even if I have to pay 7% Vat on silver here. Theirs no Vat on gold here

[flying]

So anyone where can i buy investment silver here in Bangkok I mean eagles maples and rest even if I have to pay 7% Vat on silver here. Theirs no Vat on gold here

Actually when it comes to silver any 999 type coin or bar will do just as well as any other.

In that regard you may try this

I have never heard of the Thai mint but it may be worth your time?

If you must have eagles & maples it might be tough as even here in the US as I said it is getting tougher.

Even the mints shut down deliveries periodically due to lack of supply.

One last possibility is the link I posted earlier to AMPEX

They do state in their FAQ...

Do you ship outside of Canada, Europe and Australia?

Yes. We are currently conducting trial orders to many countries around the world. Please contact our international department at [email protected] for more information or call our international team directly at (405) 595-2100 ext. 208 or ext. 224.

If your not thinking of larger orders that may work for you.

If your thinking 1000's of ounces I would search locally for 999 bullion in bar or coin &

not worry about eagles/maples. Even here in the US many deal only in 100 oz bars & it does not hurt them

at all when they sell.

[flying]

London Trader - Physical Demand for Gold has Been Insatiable

So the Western central banks got together, leased out some gold and the bullion banks sold the gold. The central bank gold being unloaded by the bullion banks is not to get the best price, but to smash the price. The smartest way to sell the gold would be to do it in the liquid sessions. But the pattern during the decline was they were selling it in the overnight session when things are quiet. This was no different that what we saw at the end of April, beginning of May on that coordinated smash.

You have to ask the question, why would anyone sell at the most illiquid times? It is not to get the best price, it is to move the market in the direction you want to move it.

Full article at Link

[donpaulo]

really happy to see this thread.

I have been buying only physical and mostly silver for the past few years on a dollar cost average basis. When it topped 30 I held off and invested in a Nat Gas play for diversity. Then the COMEX err CRIMEX raised margins again last week and blammo the bottom fell out.

So I bought more last week. Actually about 2.5kg of argent

thanks JP Morgan ~!

As long as the gold silver ratio is at crazy levels like 50:1, then silver is a no brainer as far as I am concerned. If the GSR ever moves towards a more historic, less manipulated level I can swap my bricks for some gold, until then its SILVER AHOY

[donpaulo]

i also forgot to mention

where is gold going ?

to the moon

[Naam]

As long as the gold silver ratio is at crazy levels like 50:1, then silver is a no brainer as far as I am concerned.

based on more than three decades of investment experience i always smile when i hear "no-brainer"

[flying]

As long as the gold silver ratio is at crazy levels like 50:1, then silver is a no brainer as far as I am concerned.

based on more than three decades of investment experience i always smile when i hear "no-brainer"

Based on the last time I bought silver it was at 77/1 & went as high as 83/1 if I remember right....

I do not think 50/1 is all that exciting. 60/1 & I will start to rev up the wheelbarrow again

Edited October 5, 2011 by flying

[Digitalbanana]

As long as the gold silver ratio is at crazy levels like 50:1, then silver is a no brainer as far as I am concerned.

based on more than three decades of investment experience i always smile when i hear "no-brainer"

I always smile when I read supercilious retorts by posters espousing their experience

[cloudhopper]

Commodities in deflation discussion -

http://theautomaticearth.blogspot.com/2011/10/october-3-2011-commodities-and.html

While not explicitly addressed here IMO gold as a form of money will be a useful store of capital in a deflation. Any debt-based asset or business will not be.

[Naam]

As long as the gold silver ratio is at crazy levels like 50:1, then silver is a no brainer as far as I am concerned.

based on more than three decades of investment experience i always smile when i hear "no-brainer"

I always smile when I read supercilious retorts by posters espousing their experience

facts are facts, fiction is fiction. no-brainers do not exist when it concerns investment. that the latter is pointed out using "supercilious retorts" is -in my [not so] humble opinion- only fair in a public forum where many inexperienced members are looking for financial advice.

it does not make sense presenting fairy tales which might lead to losses. but at least the poster to whom i replied was fair enough to add "as far as i am concerned".

[Naam]

Commodities in deflation discussion -

http://theautomaticearth.blogspot.com/2011/10/october-3-2011-commodities-and.html

While not explicitly addressed here IMO gold as a form of money will be a useful store of capital in a deflation. Any debt-based asset or business will not be.

in a real deflation cash is king.

[serenitynow]

Commodities in deflation discussion -

http://theautomatice...dities-and.html

While not explicitly addressed here IMO gold as a form of money will be a useful store of capital in a deflation. Any debt-based asset or business will not be.

in a real deflation cash is king.

IMO these central bankers would trear their respective republics apart befor they'd suffer a "real" deflation. Anyhow, Bernanke's stock is going up with me. he seems to realize his limitations and does his best working at the margins these days.

[cloudhopper]

in a real deflation cash is king.

Paper yes, Gaussian no.

[letitbe]

So anyone where can i buy investment silver here in Bangkok I mean eagles maples and rest even if I have to pay 7% Vat on silver here. Theirs no Vat on gold here

Actually when it comes to silver any 999 type coin or bar will do just as well as any other.

In that regard you may try this

http://www.thaivisa....ost__p__2334860

I have never heard of the Thai mint but it may be worth your time?

If you must have eagles & maples it might be tough as even here in the US as I said it is getting tougher.

Even the mints shut down deliveries periodically due to lack of supply.

One last possibility is the link I posted earlier to AMPEX

They do state in their FAQ...

Do you ship outside of Canada, Europe and Australia?

Yes. We are currently conducting trial orders to many countries around the world. Please contact our international department at [email protected] for more information or call our international team directly at (405) 595-2100 ext. 208 or ext. 224.

If your not thinking of larger orders that may work for you.

If your thinking 1000's of ounces I would search locally for 999 bullion in bar or coin &

not worry about eagles/maples. Even here in the US many deal only in 100 oz bars & it does not hurt them

at all when they sell.

Thanks ive tried all those even Perth mint margins over spot are crazy so your left with paper stuff on stock markets or pellets here or paying minimum 7-8% over spot in somewhere like Austalia or possibly 4% in USA and if you dont live in those countries storage costs travel costs etc. Here Vat 7% etc etc. Ok if you reckon a huge financial crash is coming then paying up to 20% over spot is probably worth it and im sort of resigned to do that but it does mean I immediately loose around 20% of our family money. Im now buying any pure silver at almost any premium as insurance and continue to buy gold here at only 1/2 % over spot. Maybe I should just stick 100% to gold since its easy but im a bit greedy and fancy silver more. So still buying SLV and PHAG for silver and physical for gold. Ive gone from 10% in PM to now 20% and until crazy debt situation in west in solved go to 25-35% PM.

[Naam]

Commodities in deflation discussion -

http://theautomatice...dities-and.html

While not explicitly addressed here IMO gold as a form of money will be a useful store of capital in a deflation. Any debt-based asset or business will not be.

in a real deflation cash is king.

IMO these central bankers would trear their respective republics apart befor they'd suffer a "real" deflation. Anyhow, Bernanke's stock is going up with me. he seems to realize his limitations and does his best working at the margins these days.

Japan's central bankers have been trying for more than two decades all kind of tricks to avoid deflation... without success.

[midas]

Commodities in deflation discussion -

http://theautomatice...dities-and.html

While not explicitly addressed here IMO gold as a form of money will be a useful store of capital in a deflation. Any debt-based asset or business will not be.

in a real deflation cash is king.

IMO these central bankers would trear their respective republics apart befor they'd suffer a "real" deflation. Anyhow, Bernanke's stock is going up with me. he seems to realize his limitations and does his best working at the margins these days.

Japan's central bankers have been trying for more than two decades all kind of tricks to avoid deflation... without success.

hmmm...........this guy doesn't agree with you?

[flying]

US Mint Sells Nearly 3/4 MILLION SILVER EAGLES 1st Day of October!

Yesterday 10/3, the US Mint sold a whopping 737,000 Silver Eagle 1 oz coins in a single day!

To put this number in perspective, in Dec of 2010 with silver in the mid $20's, the US Mint sold a total of 1,772,000 Silver Eagles FOR THE ENTIRE MONTH OF DECEMBER! Yesterday, on 10/3, with the spot price of silver approximately $31/oz, the US Mint sold 737k Eagles, or 42% of sales for ALL of December 2010!

Sales totals for September are now in as well, at a massive 4,460,500 ounces for the month, the highest monthly sales total since January 2011 (during a massive take-down...seeing the connection here) by nearly 50%!!

If the yesterday's sales pace is continued throughout the rest of 2011 (not to mention the increase we would see with any further sell-off), the US Mint Silver Eagle sales would be nearly 50 Million ounces for the LAST QUARTER OF 2011!

In 2010, the US Mint sold a record 34.662 Million Silver Eagle 1 oz coins.

You sure you want to challenge $20 Blythe?

What will daily Silver Eagle sales look like then? 1 M oz? 2 M oz? 5 M oz?

[donpaulo]

well I think we can all agree that the metals markets are manipulated so when I say a "no brainer" it has to do with my conclusions of where I should keep my money.<br><br>bank of america ? I think not<br><br>cash ? dubious<br><br>stocks ? lol<br><br>govt bonds ? hmmm<br><br>metals ? no brainer<br><br>80:1 is a brain dead opportunity<br>60:1 is zombie comprehension<br>50:1 is a no brainer<br><br>25:1 then I am thinking about swapping silver for gold (just like every joe six pack with a physical holding)<br><br>already is real estate, and energy and fixed income assets to a certain degree<br><br>metals makes sense for me which is why I invested in spotmex <br><br>especially after Gainesville, Tulving, Monarch and APMEX don't want my business<br>

[flying]

metals makes sense for me which is why I invested in spotmex ...especially after Gainesville, Tulving, Monarch and APMEX don't want my business

What was the problem with the merchants you mentioned?

Did they not want to ship to Thailand?

Spotmex has some crazy high premiums

Also they sound like a bizzaro Ebay with less protection.

For instance.....From their FAQ

How does SPOTMEX handle disputes?

While SPOTMEX does its best to handle disputes amicably, if a dispute cannot be resolved, SPOTMEX reserves the right to release the contact details of the disputing parties to each other for resolution outside of SPOTMEX.

[Naam]

1. well I think we can all agree that the metals markets are manipulated so when I say a "no brainer"

2. it has to do with my conclusions of where I should keep my money.

3. bank of america ? I think not.

4. cash ? dubious.

5. stocks ? lol

6. govt bonds ?

1. which markets are not DonPaulo?

2. touché :jap:

3.

4.

5.

6.

[Paulo1]

I am a trader, i don't care which direction as long as i am on the right side of the market is all that matters. We all know where its going.

Edited October 6, 2011 by Paulo1

[cloudhopper]

We all know where its going.

We do?

[flying]

Venezuela says gold repatriation to start soon

CARACAS Oct 5 (Reuters) - Venezuela will begin repatriating its gold reserves from Western nations by mid-November, the central bank head said on Wednesday.

"We're in the final phase of the logistics ... Soon the Venezuelan people will know when the first boat is coming," Nelson Merentes said, according to state news agency AVN.

President Hugo Chavez announced in August that the South American OPEC member nation would bring bring home almost all its $11 billion in gold reserves held abroad -- a nationalistic move that has hurt market confidence.

Analysts have said bringing the gold physically to Venezuela is a slow, complex and expensive process. Officials have given few details of how that will happen.

Merentes said the first boat laden with reserves would be back by mid-November. "It will be here as soon as possible, no later than in a month-and-a-half," he said.

The operation would be carried out with discretion and "extremely strict security," he added.

Venezuela's gold abroad is in England, Switzerland, the United States, Canada and France.

Some of the bullion would be left abroad to facilitate international financial transactions, Merentes said.

As well as repatriating reserves, Chavez is nationalizing Venezuela's gold industry in his latest move to implant socialism across the nation of 29 million people.

While applauded by many of Chavez's supporters, economists say the moves threaten to make Venezuela's finances even murkier and affect its credit rating.

[flying]

Physical silver running out because its spot price does not reflect true investment demand

Several readers of ArabianMoney have written to us over the past two weeks to express their astonishment at the current price of silver because demand where they live is so high that stocks have run out.

Consider this comment: ‘I used to buy silver from a shop in Kobar in Saudi. From the last four weeks they said they ran out of silver. I cannot find anyone who sells silver in Saudi now. I asked them from where do they get their silver. They said the UAE. The problem is they only have 1kg bars…and I still cannot find any supplier.’

No stock

Well don’t bother coming to the UAE. Our information is that the 1kg bars mentioned here and featured in a video on the website last month (click here) are all sold out too. We’ve also had feedback about low or no stock in Texas and Australia from big private bullion dealers there.

Now what would normally happen when a commodity is in short supply is that the price would go up to encourage sellers to put some more into the market. That is presently not happening because the silver price is being artificially suppressed in the Comex futures market by the bullion banks acting on instructions from the Fed presumably, so why would you sell that silver cheaply if you happened to own some?

But something has to give and it is the price of physical silver rather than the Comex price of the shiniest of metals. If you can find any silver these days you will pay quite a substantial premium over the spot price. But pay it because that is probably still a bargain compared to where silver prices are going.

The truth is that silver is a rare metal, more rare than gold. Silver reserves have been estimatated at one-hundredth of gold reserves. Silver is after all consumed by industrial processes and reserves have dwindled over the years because the price has been kept so low for so long by market manipulation. Why is that?

Silver price fixing

This market manipulation dates back to the last silver boom of the late 70s and the spectacular $50 spike in the price in 1980. The central banks then saw suppression of the silver and gold price as a part of their war on inflation. They clearly lost that war but kept gold and silver prices down until this decade.

Thirty-one years later and we are still not back to those silver prices despite a seven-fold increase in the global money supply. On that reckoning silver ought to be $350 an ounce, not $30 today.

However, the snap back for silver prices now has the capacity to be sensational, and far beyond the mini-spike in the first few months of this year from $30 to almost $50 again. So those who go seeking out physical silver to buy at current prices are going to be very well rewarded and soon, not in 31 years!

ArabianMoney continues to stick with silver as our top tip for 2011 (click here) and that means a big rebound in the price before the end of the year.