Where Is Gold Going In This Market

[churchill]

How much gold is there in the world?

'Up to now it has never gone away. It has always been recycled.

"All the gold that has been mined throughout history is still in existence in the above-ground stock. That means that if you have a gold watch, some of the gold in that watch could have been mined by the Romans 2,000 years ago," says James Turk.

The way gold is being used in the technology industry, however, is different.

The British Geological Survey states that about 12% of current world gold production finds its way to this sector, where it is often used in such small quantities, in each individual product, that it may no longer be economical to recycle it.

In short, gold may be being "consumed" for the first time.'

http://www.bbc.co.uk/news/magazine-21969100

[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.

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"!

sour grapes ?

[Naam]

sour grapes ?

no, applied simple logic

[Naam]

Penguin wedding season started yesterday in southern Patagonia. gold already up 20 cents/ounce.

[yoshiwara]

How much gold is there in the world?

'Up to now it has never gone away. It has always been recycled.

"All the gold that has been mined throughout history is still in existence in the above-ground stock. That means that if you have a gold watch, some of the gold in that watch could have been mined by the Romans 2,000 years ago," says James Turk.

The way gold is being used in the technology industry, however, is different.

The British Geological Survey states that about 12% of current world gold production finds its way to this sector, where it is often used in such small quantities, in each individual product, that it may no longer be economical to recycle it.

In short, gold may be being "consumed" for the first time.'

http://www.bbc.co.uk/news/magazine-21969100

The fiddle is the sly suggestion that stock is going down.

[ajarnpot]

How much gold is there in the world?

'Up to now it has never gone away. It has always been recycled.

"All the gold that has been mined throughout history is still in existence in the above-ground stock. That means that if you have a gold watch, some of the gold in that watch could have been mined by the Romans 2,000 years ago," says James Turk.

The way gold is being used in the technology industry, however, is different.

The British Geological Survey states that about 12% of current world gold production finds its way to this sector, where it is often used in such small quantities, in each individual product, that it may no longer be economical to recycle it.

In short, gold may be being "consumed" for the first time.'

http://www.bbc.co.uk/news/magazine-21969100

disagree on the first time, history is full of examples when the wealthy have used gold in food for cooking, the answer to eternal youth and all that

[mania]

Gold at roughly $1550 USD oz
For the last year $1550 has been a pretty strong floor.
Will be interesting to see if this time is the same.

Short term buyers might find this a good buy point

Back to Jan 2012 three times to 1550 range

two climbs to 1800 range three if you count the one right before

Jan 2012. Almost looks like a trading range between 1550-1800

See where it goes from here & if that floor holds again

Edited April 4, 2013 by mania

[Jayman]

I show the lows on gold so far today at 1540. I call that a break of the 1550 level. Of course we have not had a daily close below 1550 but the day isn't over yet. I fear if 1550 doesn't hold then we are down to the 1522 area that we have tested a couple times over the past few years. This would make a 3rd test at it and although I'm sure it would bounce on the test it has a high probability of breaking through and further drops are to be expected. I am seeing many headlines that the gold run is over. "end of an era" and stuff like that. Part of me thinks that is a bullish sign when the MSM starts calling gold's bull market over but I still think we will see another leg down to the 1300's or lower before we get back on the bull run.

just my 2 cents

[mania]

Sorry I was speaking loosely as in 1550 area

it has dropped slightly below back in My 2011 also

But agree as always anything is possible.

Edited April 4, 2013 by mania

[doji]

I don't know but right now I'm seeing around 1380-1430 for this bottom, unless something comes up in a major way.

My bias outlook is still bearish. However there is a possibility of the mini reversal toward the end of the month or beginning of next month…..nothing for sure until the next 2 weeks.

Just my thought

[Naam]

the charlatans don't give up:

Please understand that the psychopaths who are running the world will apparently run this game until the very last ounce of strength (Gold & silver) is gone.

More and more demand for physical metal is showing each and every month. When the “bottom of the barrel” is reached the game(s) will stop, physical metal for sale will dry up entirely and literally no amount of fiat currency will secure it.

You are being offered the greatest price discount in relation to money supply in history right now, secure holdings now because later the only way to do so will be with real goods that owners are willing to barter for.

http://silverdoctors.com/bottom-of-the-cartels-barrel/#more-24419

[Naam]

the positive aspect of gold's fall in price is that many ignorant investors, who don't hold gold (yet), will not fall for the often propagated variety "why gold is the ultimate <insert BS>".

[Khun Jean]

I am waiting for the stock market correction/crash, whenever that will happen, i have patience.

At that moment lots of margin calls, and paper gold will be sold dropping the price considerable.

Same for silver. People diversify but when one of their parts in a 'basket' is going down compensation from other parts is needed.

Same story for silver.

I have set my buying triggers on 25US$ (i might lower this to 20US$ if the current trend continues) for silver, gold around 1100US$.

I only buy physical, no use for paper certificates as has been proven lately by banks unable to deliver. ABN in the Netherlands did that a few days ago.

Edited April 5, 2013 by Khun Jean

[mccw]

Interesting golds little bounce off the negative jobs report out of USA. So its seen again / trading as a safe haven again?; where as for a while it had been trading more like a risk asset no? Risk on , risk off and all that nuts

[jbrain]

I am waiting for the stock market correction/crash, whenever that will happen, i have patience.

At that moment lots of margin calls, and paper gold will be sold dropping the price considerable.

Same for silver. People diversify but when one of their parts in a 'basket' is going down compensation from other parts is needed.

Same story for silver.

I have set my buying triggers on 25US$ (i might lower this to 20US$ if the current trend continues) for silver, gold around 1100US$.

I only buy physical, no use for paper certificates as has been proven lately by banks unable to deliver. ABN in the Netherlands did that a few days ago.

Why would gold or silver get cheaper at the moment the equity markets crash.

I think at that particular point the price of these metals rise.

[Khun Jean]

After, they will rise. But first they will plunge together with stock market prices as positions have to be covered.

Happened already a few times before and will probably happen again.

Most gold and silver are only on paper and when stocks derivates take a dive and the broker calls to put some more dollars on your account to cover your losses most people opt for selling their gold and silver because it is used many times as an hedge for exactly those situations.

Price drops of 10-20% in 1 or 2 days is probably what happens.

Often those first calls it can drop even more if the stock market keep going lower until a new level is established.

After that i think gold and silver will go rise again quickly.

Timing it will be difficult so i prepare to buy on the first plunge with about 25% of the funds i keep ready. Then see what happens.

All of course my personal opinion based on my experience. But you never know if it will play out the same way in the future, always stay careful.

Japan is already changing the course, everything is very volatile, who knows what kind of decisions are being made in the weekend. I always wait until after the weekend to make decisions and try to be in cash as much as possible.

Edited April 5, 2013 by Khun Jean

[mccw]

Personally under these circumstances I'd only keep a small cash to catch that dip Kunn jean. I mean what if you weren't able to get down the gold shop or there was a rush on or how the security of buying massive bhts in one go. Maybe keep a 500k cash got jump in at troff. But I'd not take major risks being overly unprotected awaiting the majic two days.

[Jayman]

I am waiting for the stock market correction/crash, whenever that will happen, i have patience.

At that moment lots of margin calls, and paper gold will be sold dropping the price considerable.

Same for silver. People diversify but when one of their parts in a 'basket' is going down compensation from other parts is needed.

Same story for silver.

I have set my buying triggers on 25US$ (i might lower this to 20US$ if the current trend continues) for silver, gold around 1100US$.

I only buy physical, no use for paper certificates as has been proven lately by banks unable to deliver. ABN in the Netherlands did that a few days ago.

Why would gold or silver get cheaper at the moment the equity markets crash.

I think at that particular point the price of these metals rise.

They get weaker as everyone margin calls and sells off any asset they can to cover margins. Gold and silver will take big hits if the US equities market crashes.

Edited April 5, 2013 by Jayman

[fletchsmile]

I am waiting for the stock market correction/crash, whenever that will happen, i have patience.

At that moment lots of margin calls, and paper gold will be sold dropping the price considerable.

Same for silver. People diversify but when one of their parts in a 'basket' is going down compensation from other parts is needed.

Same story for silver.

I have set my buying triggers on 25US$ (i might lower this to 20US$ if the current trend continues) for silver, gold around 1100US$.

I only buy physical, no use for paper certificates as has been proven lately by banks unable to deliver. ABN in the Netherlands did that a few days ago.

You're a patient man. I'm curious. How long have you been waiting to add to your position? I remember you posting the same "might lower to USD 20" a couple of years back. Struck me as odd then too

[Khun Jean]

Very patient and meanwhile i do other things.

This thread is about gold and while i slowly add some physical gold each month i keep cash ready for when it goes down considerably. Same for silver.

[jbrain]

Very patient and meanwhile i do other things.

This thread is about gold and while i slowly add some physical gold each month i keep cash ready for when it goes down considerably. Same for silver.

You mean you buy the wife a neckless every month

[Khun Jean]

No, the spread is too big for jewelry and more hassle when you want to sell. she might want to keep it.

I buy blocks. Only a hundred baht spread. A very good deal.

Silver in pellets, unfortunately it has a sales tax but still interesting.

And some zip bags for vacuum storage.

Edited April 5, 2013 by Khun Jean

[Naam]

No, the spread is too big for jewelry and more hassle when you want to sell. she might want to keep it.

I buy blocks. Only a hundred baht spread. A very good deal.

Silver in pellets, unfortunately it has a sales tax but still interesting.

And some zip bags for vacuum storage.

what are "blocks"?

[Naam]

1 Ounce Of Gold And A Decent Men's Suit

http://seekingalpha.com/article/1320411-1-ounce-of-gold-and-a-decent-men-s-suit?source=email_macro_view&ifp=0

[cheeryble]

1 Ounce Of Gold And A Decent Men's Suit

http://seekingalpha.com/article/1320411-1-ounce-of-gold-and-a-decent-men-s-suit?source=email_macro_view&ifp=0

Of course Naam

Sameer was quite generous.

Had he started his prices in the mid 1800s instead of 1800 one would be likely to be underwater for a century.

[Khun Jean]

what are "blocks"?

I used the wrong word, probably Thinglish.

I mean the one baht and five baht weight bars of 96.5% gold commonly used in gold shops.

[ronz28]

True or false, no gold is available to buy in Bangkok?

http://networkedblogs.com/JZVJz

[Khun Jean]

I had that a few times. It is not that they don't have any but after a dip in goldprice they are very reluctant. Offer last weeks price and you can get it.

But with the many shop there are in Bangkok there is choice enough.

That the baht gets stronger against the dollar is also not working in the shops favor.

The 'article' if it can be called that mentioned that you can if you ordered. This is also pretty normal, jewelry they have enough, the small bars not often. Normally within one or two days when you make an order.

Edited April 6, 2013 by Khun Jean

[Naam]

True or false, no gold is available to buy in Bangkok?

http://networkedblogs.com/JZVJz

[midas]

True or false, no gold is available to buy in Bangkok?

http://networkedblogs.com/JZVJz

Look how often with any commodity in Thailand, people simply refuse to budge at a certain price and will just sit on the asset. Look how many condominiums remain empty for many years, if the owner cannot achieve the asking price. Are we seeing this kind of thing in Thailand now with gold? Edited April 7, 2013 by midas