Where Is Gold Going In This Market

[Naam]

In Fact, It would be very interesting to see the differences in value between gold and industrial hemp, anyone knows?

you need many truckloads on industrial hemp to match the value of that 1kilo gold bar you carry in your back pocket.

[cloudhopper]

In Fact, It would be very interesting to see the differences in value between gold and industrial hemp, anyone knows?

you need many truckloads on industrial hemp to match the value of that 1kilo gold bar you carry in your back pocket.

I would gladly trade one of my kilo bars for a truckload of industrial strength hemp.

[midas]

MARC FABER: Not Even Gold Will Save You From What Is Coming

http://www.businessinsider.com/faber-gold-wont-be-a-place-to-hide-2013-3#ixzz2OvJYlmQD

[Naam]

In Fact, It would be very interesting to see the differences in value between gold and industrial hemp, anyone knows?

you need many truckloads on industrial hemp to match the value of that 1kilo gold bar you carry in your back pocket.

I would gladly trade one of my kilo bars for a truckload of industrial strength hemp.

why do i have the feeling that you and me have different types of hemp in mind?

[yoshiwara]

MARC FABER: Not Even Gold Will Save You From What Is Coming

http://www.businessinsider.com/faber-gold-wont-be-a-place-to-hide-2013-3#ixzz2OvJYlmQD

Well that would put your thoughts up a creek without a paddle.

[Jumalauta]

In Fact, It would be very interesting to see the differences in value between gold and industrial hemp, anyone knows?

you need many truckloads on industrial hemp to match the value of that 1kilo gold bar you carry in your back pocket.

I would gladly trade one of my kilo bars for a truckload of industrial strength hemp.

why do i have the feeling that you and me have different types of hemp in mind?

From a market point of view I do understand the differences in value just fine, but from a philosophical perspective, it becomes strange.

Humans can create more than sixty thousand products with Industrial hemp and seeds, including food and fuel...

What can you get out of gold more than glitter?

And how will someone value gold if money loses its total value in an economic collapse?

[Naam]

Yo Genius!

tell us about an economic collapse in which gold lost its total value and hemp was the cherished commodity.

[Jumalauta]

Yo Genius!

tell us about an economic collapse in which gold lost its total value and hemp was the cherished commodity.

That was not what I meant, I do not think that's how things will develop in a event of an economic collapse. nope.

Nor did I say that gold will lose its overall value, but instead asked how it will be valued when money loses its overall value in a possible economic collapse?

I think that we stand before a global collapse, i do not wish for it... How things will develep in a situation like that I do not know.

It was just a thought from a philosophical perspective, on value gold more than a product that is good for the environment and health, nothing more.

Just because someone see a problem does not mean that someone wear a solution.

I just find it interesting, thats all. I do not protest against politics or speek for any envioronmet movement, i do not want to judge enything or anyone, I'm not here too change things, things are what they are...

Someone told me that don't try to change things out there, instead the biggest change someone can do is, it self,,, that everyting out there is a reflection of our self.

[midas]

MARC FABER: Not Even Gold Will Save You From What Is Coming

http://www.businessinsider.com/faber-gold-wont-be-a-place-to-hide-2013-3#ixzz2OvJYlmQD

Well that would put your thoughts up a creek without a paddle.

If Marc Faber is correct no wonder will have a paddle. But I would still rather have a percentage of my assets in gold bullion with me ( even if it's not at market highs) than in paper or digital form which will can be confiscated by those in power while you are sleeping

[BuffaloRescue]

And is it possible to buy gold bullions in Thailand ?

The point of reserve is gaurding against what could be Massive losses in Euro or Dollar terms in case of bank runs or dominos falling/ financial chaos in the west or globally. So a little expense moving money maybe needed but is worth it for the purpose and peace of mind.

Thailand is a great place to hold physical gold. There are gold shops everywhere! If there was a global crises or thsi banks were shut for some reason, ATMs not working; the chances are local gold shops would still be trading and at least enough bht could be exchange to buy essential goods during the crises period. (I'd still keep some physical cash on hand as well though).

The margins to trade are much lower than uk for example also. 350bht a bht weight, that's roughly 1.5% an oz compared to UK to purchase now is often 5-8% over spot. So what you've spend in transfers from EU you've instantly saved in purchase premium.

So today I went to look for Bullions. The first shop I entered in Central Pattaya had Bullions in the counter from 1-2-5-10 Baht and had an inscription 99,9% gold. They also had some 1 Baht bars with a Thai logo.

I asked the price for the 10 Baht gold bar and was told day price was 22.300 Buy and 22.200 Sell per Baht weight. When buy a 200 Baht per baht weight was added and selling price 100 Baht deducted.

Then I went to a few other gold shop in South Pattaya and the buying and selling price was identical and the trade margins identical except one shop where who calculated a trade margin of a whopping 600 Baht per baht weight. Probably thought I was Russian

But what I noticed at those shops was that their gold bars all had the inscription 96.5 % gold. When I asked them for the 99.9% they couildn't get or had to order.

So to be clear, the gold price announced at the entry of the shop and which is identical at all shops, is that the price for 96,5% or 99.9% gold?

Any recommendations as where to buy the bullions?

Hua Seng Heng Commodities, in china town bkk. They have 1kg bars 99.99 choice of brand eg swiss, perth etc. Less than 1kg its the usual 96% gold in baht weight. Cant buy on the weekends.

[mccw]

And is it possible to buy gold bullions in Thailand ?

The point of reserve is gaurding against what could be Massive losses in Euro or Dollar terms in case of bank runs or dominos falling/ financial chaos in the west or globally. So a little expense moving money maybe needed but is worth it for the purpose and peace of mind.

Thailand is a great place to hold physical gold. There are gold shops everywhere! If there was a global crises or thsi banks were shut for some reason, ATMs not working; the chances are local gold shops would still be trading and at least enough bht could be exchange to buy essential goods during the crises period. (I'd still keep some physical cash on hand as well though).

The margins to trade are much lower than uk for example also. 350bht a bht weight, that's roughly 1.5% an oz compared to UK to purchase now is often 5-8% over spot. So what you've spend in transfers from EU you've instantly saved in purchase premium.

So today I went to look for Bullions. The first shop I entered in Central Pattaya had Bullions in the counter from 1-2-5-10 Baht and had an inscription 99,9% gold. They also had some 1 Baht bars with a Thai logo.

I asked the price for the 10 Baht gold bar and was told day price was 22.300 Buy and 22.200 Sell per Baht weight. When buy a 200 Baht per baht weight was added and selling price 100 Baht deducted.

Then I went to a few other gold shop in South Pattaya and the buying and selling price was identical and the trade margins identical except one shop where who calculated a trade margin of a whopping 600 Baht per baht weight. Probably thought I was Russian

But what I noticed at those shops was that their gold bars all had the inscription 96.5 % gold. When I asked them for the 99.9% they couildn't get or had to order.

So to be clear, the gold price announced at the entry of the shop and which is identical at all shops, is that the price for 96,5% or 99.9% gold?

Any recommendations as where to buy the bullions?

Hua Seng Heng Commodities, in china town bkk. They have 1kg bars 99.99 choice of brand eg swiss, perth etc. Less than 1kg its the usual 96% gold in baht weight. Cant buy on the weekends.

Just in case no one mention it- the price in the window is the Thai gold price per baht weight of 96.5%

In Thai I think its better to just get the 96.5 since its so much more widely traded. I mean are you thinking of using / selling it here or running with it to Europe of somewhere ? When in Rome n all that. (But I do also personally keep just some little soveriengs for just this emergency evacuation reason)

[jbrain]

Just in case no one mention it- the price in the window is the Thai gold price per baht weight of 96.5%

In Thai I think its better to just get the 96.5 since its so much more widely traded. I mean are you thinking of using / selling it here or running with it to Europe of somewhere ? When in Rome n all that. (But I do also personally keep just some little soveriengs for just this emergency evacuation reason)

If I buy Bullions, still making up my mind, then my purpose is that I can sell them when and wherever I may need to. So in that case the 99.9% will be a safer option.

[BuffaloRescue]

Just in case no one mention it- the price in the window is the Thai gold price per baht weight of 96.5%

In Thai I think its better to just get the 96.5 since its so much more widely traded. I mean are you thinking of using / selling it here or running with it to Europe of somewhere ? When in Rome n all that. (But I do also personally keep just some little soveriengs for just this emergency evacuation reason)

If I buy Bullions, still making up my mind, then my purpose is that I can sell them when and wherever I may need to. So in that case the 99.9% will be a safer option.

Well you havent got a hope in hell of smuggling a 1kg bar out of thailand and into your country.. and then selling it without explaination of where it came from. Those things shine like hell under x-ray machines !

Better leave it in Thailand under lock and key, ii believe HSH have a storage service otherwise there are numerous saftety deposit companies in BKK. Thailand might be the best place in the world for small player to buy and sell gold.

If you want to take gold out of thailand in small amounts.... then 20 baht gold chains do the trick just wear around your neck, technically youd be subject to tax on that - but ive never actually heared of anyone getting taxed on jewelry they are wearing. Rich celebs arrive at airports dripping in jewelry all the time. Virtually all jewelry in TL is 96.6%. Im not sure if 99% is available, bit it it is i would avoid it as it might be considered investment grade gold.

If the poo hits the fan.. its quite conceivable that any government, including Thai, may restrict buying and selling bullion so you might be better off with jewelry. Expect to pay about 300 baht/ baht weight of gold for the design. Thats not much of a "spread" over 22,000 its like 1 percent plus another 1 percent or so the shop makes on the weight and you can sell it any day of the week, anywhere in TL

How are you going to find a buyer for your gold overseas? In Australia they have little gold buying kiosks in shopping centers they offer you about 50% of its worth, and you have to fill out forms that get sent to the government/tax office. Unless you can find a small jewelry maker, what are you going to do? You cant just rock up at a mint with a load of jewelry and get spot price for it unless you are talking kilos - which you wouldnt be able to take in without duty anyway

Edited March 30, 2013 by BuffaloRescue

[mccw]

Just in case no one mention it- the price in the window is the Thai gold price per baht weight of 96.5%

In Thai I think its better to just get the 96.5 since its so much more widely traded. I mean are you thinking of using / selling it here or running with it to Europe of somewhere ? When in Rome n all that. (But I do also personally keep just some little soveriengs for just this emergency evacuation reason)

If I buy Bullions, still making up my mind, then my purpose is that I can sell them when and wherever I may need to. So in that case the 99.9% will be a safer option.

You can sell either where ever you like but its how you get it where you want to sell it, what costs incurred and what prices you'll receive.

Out of interest how is the mark up % on the 99.9 in Thailand? ( I never bought any here) Compare the margins of both win loose buying selling both here and abroad and then you'll have an answer exactly what works for you.

[BuffaloRescue]

Just in case no one mention it- the price in the window is the Thai gold price per baht weight of 96.5%

In Thai I think its better to just get the 96.5 since its so much more widely traded. I mean are you thinking of using / selling it here or running with it to Europe of somewhere ? When in Rome n all that. (But I do also personally keep just some little soveriengs for just this emergency evacuation reason)

If I buy Bullions, still making up my mind, then my purpose is that I can sell them when and wherever I may need to. So in that case the 99.9% will be a safer option.

You can sell either where ever you like but its how you get it where you want to sell it, what costs incurred and what prices you'll receive.

Out of interest how is the mark up % on the 99.9 in Thailand? ( I never bought any here) Compare the margins of both win loose buying selling both here and abroad and then you'll have an answer exactly what works for you.

Purchase 99.9 from HSH at exactly spot price. Selling i imagine its about 1% under.

Edited March 30, 2013 by BuffaloRescue

[MrWorldwide]

To the poster who questioned what gold's value was beyond 'glitter' - ever hear of a little thing like the semiconductor industry that pretty much underpins the backbone of our modern economy (such as it is ..)? Not a fan of the circuit board or expensive dental procedures ? Fine - just start reading from 'Medicine' down ...

http://en.wikipedia.org/wiki/Gold#Medicine

[Naam]

Just in case no one mention it- the price in the window is the Thai gold price per baht weight of 96.5%

In Thai I think its better to just get the 96.5 since its so much more widely traded. I mean are you thinking of using / selling it here or running with it to Europe of somewhere ? When in Rome n all that. (But I do also personally keep just some little soveriengs for just this emergency evacuation reason)

If I buy Bullions, still making up my mind, then my purpose is that I can sell them when and wherever I may need to. So in that case the 99.9% will be a safer option.

"wherever" is a logical conclusion. but as one of the poster mentioned already it's not easy to move physical gold to wherever once the quantity reaches or exceeds a certain "critical mass" who's value has to be declared when leaving as well as when entering a country.

[Naam]

Just in case no one mention it- the price in the window is the Thai gold price per baht weight of 96.5%

In Thai I think its better to just get the 96.5 since its so much more widely traded. I mean are you thinking of using / selling it here or running with it to Europe of somewhere ? When in Rome n all that. (But I do also personally keep just some little soveriengs for just this emergency evacuation reason)

If I buy Bullions, still making up my mind, then my purpose is that I can sell them when and wherever I may need to. So in that case the 99.9% will be a safer option.

You can sell either where ever you like but its how you get it where you want to sell it, what costs incurred and what prices you'll receive.

Out of interest how is the mark up % on the 99.9 in Thailand? ( I never bought any here) Compare the margins of both win loose buying selling both here and abroad and then you'll have an answer exactly what works for you.

Purchase 99.9 from HSH at exactly spot price. Selling i imagine its about 1% under.

that is only partly correct as a premium exists for very small unit (same as for small units of 96.5).

[BuffaloRescue]

Oh ok. But i dont think HSH sell any smaller units than 1kg for 99.9

Purchase 99.9 from HSH at exactly spot price. Selling i imagine its about 1% under.

If I buy Bullions, still making up my mind, then my purpose is that I can sell them when and wherever I may need to. So in that case the 99.9% will be a safer option.

You can sell either where ever you like but its how you get it where you want to sell it, what costs incurred and what prices you'll receive.

Out of interest how is the mark up % on the 99.9 in Thailand? ( I never bought any here) Compare the margins of both win loose buying selling both here and abroad and then you'll have an answer exactly what works for you.

that is only partly correct as a premium exists for very small unit (same as for small units of 96.5).

[Naam]

BuffaloRescue

Oh ok. But i dont think HSH sell any smaller units than 1kg for 99.9

because HSH is exclusively targeting customers who never spend less than 1½ million Baht when they buy gold.

[jbrain]

How are you going to find a buyer for your gold overseas? In Australia they have little gold buying kiosks in shopping centers they offer you about 50% of its worth, and you have to fill out forms that get sent to the government/tax office. Unless you can find a small jewelry maker, what are you going to do? You cant just rock up at a mint with a load of jewelry and get spot price for it unless you are talking kilos - which you wouldnt be able to take in without duty anyway

So if I understand this correctly, gold ISN"T a safe investment at all. Because if they give you now 50% of the value in the civilised world, then what you expect to get when the poo has hit the fan and everyone is selling their gold they bought as a safe haven?

[mccw]

How are you going to find a buyer for your gold overseas? In Australia they have little gold buying kiosks in shopping centers they offer you about 50% of its worth, and you have to fill out forms that get sent to the government/tax office. Unless you can find a small jewelry maker, what are you going to do? You cant just rock up at a mint with a load of jewelry and get spot price for it unless you are talking kilos - which you wouldnt be able to take in without duty anyway

So if I understand this correctly, gold ISN"T a safe investment at all. Because if they give you now 50% of the value in the civilised world, then what you expect to get when the poo has hit the fan and everyone is selling their gold they bought as a safe haven?

He's talking about "cash for gold" ie scrap gold for the desperate dumb masses who need to flog thier jewlary - these companies make an absolute killing melting it down and selling it on to the mints.

Bullion is almost always 1 % under spot; so your assertion is false.

The issue of what happens after a collapse is anyone's guess. But the idea "everyone's selling thier gold" at such a time isn't exactly right either, since what would they be selling it in to? A collapsing fiat currency which might have half or zero purchasing power the next day? More like people hold gold as a store of wealth to ride through the storm and can then buy back in to the newly stabilised currency after the dust has settled.

[yoshiwara]

How are you going to find a buyer for your gold overseas? In Australia they have little gold buying kiosks in shopping centers they offer you about 50% of its worth, and you have to fill out forms that get sent to the government/tax office. Unless you can find a small jewelry maker, what are you going to do? You cant just rock up at a mint with a load of jewelry and get spot price for it unless you are talking kilos - which you wouldnt be able to take in without duty anyway

So if I understand this correctly, gold ISN"T a safe investment at all. Because if they give you now 50% of the value in the civilised world, then what you expect to get when the poo has hit the fan and everyone is selling their gold they bought as a safe haven?

He's talking about "cash for gold" ie scrap gold for the desperate dumb masses who need to flog thier jewlary - these companies make an absolute killing melting it down and selling it on to the mints.

Bullion is almost always 1 % under spot; so your assertion is false.

The issue of what happens after a collapse is anyone's guess. But the idea "everyone's selling thier gold" at such a time isn't exactly right either, since what would they be selling it in to? A collapsing fiat currency which might have half or zero purchasing power the next day? More like people hold gold as a store of wealth to ride through the storm and can then buy back in to the newly stabilised currency after the dust has settled.

Gold bugs living in a 'B' movie fantasy.

[BuffaloRescue]

BuffaloRescue

Oh ok. But i dont think HSH sell any smaller units than 1kg for 99.9

because HSH is exclusively targeting customers who never spend less than 1½ million Baht when they buy gold.

Heh, actaully they sell heaps of jewelry and little bars. They also have some kind of a trading floor there where you can speculate on gold, with people running around selling tickets and shouting out.. i went in there once, it was quite amazing, not sure exactly how it works. Some kind of futures gambling without physical gold changing hands. Ive also seen someone coming out of the other HSH store across around the corner with a shopping trolley full of gold (wheels nearly falling off). Mr "Fiat" (strange name for an investment gold dealer) is the guy you want to speak to for kilo purchases as the chinese thais working in the shops there seem pretty rude and speak virtually no english.

Edited March 31, 2013 by BuffaloRescue

[mccw]

How are you going to find a buyer for your gold overseas? In Australia they have little gold buying kiosks in shopping centers they offer you about 50% of its worth, and you have to fill out forms that get sent to the government/tax office. Unless you can find a small jewelry maker, what are you going to do? You cant just rock up at a mint with a load of jewelry and get spot price for it unless you are talking kilos - which you wouldnt be able to take in without duty anyway

So if I understand this correctly, gold ISN"T a safe investment at all. Because if they give you now 50% of the value in the civilised world, then what you expect to get when the poo has hit the fan and everyone is selling their gold they bought as a safe haven?

He's talking about "cash for gold" ie scrap gold for the desperate dumb masses who need to flog thier jewlary - these companies make an absolute killing melting it down and selling it on to the mints.

Bullion is almost always 1 % under spot; so your assertion is false.

The issue of what happens after a collapse is anyone's guess. But the idea "everyone's selling thier gold" at such a time isn't exactly right either, since what would they be selling it in to? A collapsing fiat currency which might have half or zero purchasing power the next day? More like people hold gold as a store of wealth to ride through the storm and can then buy back in to the newly stabilised currency after the dust has settled.

Gold bugs living in a 'B' movie fantasy.

Not fantasy. That is exactly how a gold holder in Zimbabwe, Argentina, or any other failed currency country would have been able to maintain their wealth while those with bank deposits etc lost the lot. Land was still there obviously but it can be confiscate tax etc but gold holder could run and sell elsewhere, like the many Iranians and Arabs after the revolutions mid 20th century who managed to run to UK London and invested in property and business, now doing very well for themselves. Gold has served many people well through recent history. It is already the reserve currency and medium of trade weather Yoshi likes it or not.

[midas]

How are you going to find a buyer for your gold overseas? In Australia they have little gold buying kiosks in shopping centers they offer you about 50% of its worth, and you have to fill out forms that get sent to the government/tax office. Unless you can find a small jewelry maker, what are you going to do? You cant just rock up at a mint with a load of jewelry and get spot price for it unless you are talking kilos - which you wouldnt be able to take in without duty anyway

So if I understand this correctly, gold ISN"T a safe investment at all. Because if they give you now 50% of the value in the civilised world, then what you expect to get when the poo has hit the fan and everyone is selling their gold they bought as a safe haven?

reminds me of this ......... LOL

[farang000999]

I sew all my gold into my clothing to prevent confiscation.

[yoshiwara]

It is already the reserve currency and medium of trade weather Yoshi likes it or not.

Well that just about sums it up. And today's weather is golden sunsets.

[Naam]

BuffaloRescue

Oh ok. But i dont think HSH sell any smaller units than 1kg for 99.9

because HSH is exclusively targeting customers who never spend less than 1½ million Baht when they buy gold.

Heh, actaully they sell heaps of jewelry and little bars. They also have some kind of a trading floor there where you can speculate on gold, with people running around selling tickets and shouting out.. i went in there once, it was quite amazing, not sure exactly how it works. Some kind of futures gambling without physical gold changing hands. Ive also seen someone coming out of the other HSH store across around the corner with a shopping trolley full of gold (wheels nearly falling off). Mr "Fiat" (strange name for an investment gold dealer) is the guy you want to speak to for kilo purchases as the chinese thais working in the shops there seem pretty rude and speak virtually no english.

who runs around in BKK with millions in cash to speak to Mr Fiat for kilo purchases? the same goes for the fairy tale "shopping trolleys full of gold"!

[cheeryble]

....... the same goes for the fairy tale "shopping trolleys full of gold"!

Did it have a kiddie-seat?

(actually I've seen more ridiculous things, not forgetting George Best turning up for our Sunday lunchtime drinks with a crumpled old Waitrose carrier bag full of casino chips from the night before. Guess he didn't quite make it home the night before.)