Where Is Gold Going In This Market

[churchill]

'The world changed on April 12, 2013, because the Western gold bull market ended, and the Asian gold bull era began.'

http://www.321gold.com/editorials/thomson_s/thomson_s_061813.html

[Naam]

Gold Premiums in Vietnam Hit $217 Over Spot In Heavy Demand

Naam, you seem to be quite knowledgeable about local markets. Do vietnamese shops buy thai 96.5 gold for a similar premium?

They must be doing something to make it difficult for regular joes trying to arbitrage by carrying jewelry in.

Another question - for buying 99.9, is Tang Toh Kang or Bangkok Assay a better place to buy?

sorry, my knowledge doesn't cover your question concerning Viet Nam. what i know is that a lot of smuggling is going on and with a difference of >15% the smuggling will increase. even the present rather moderate 8% price difference in India restarted smuggling after many years. in the mid 70s the market price of gold in India was a whopping 40-45% above offshore price!

i also don't think that there is any difference or "better" place to buy 24k gold. most of BKKs big goldshops exist since decades and have an excellent reputation.

[Naam]

'The world changed on April 12, 2013, because the Western gold bull market ended, and the Asian gold bull era began.'

http://www.321gold.com/editorials/thomson_s/thomson_s_061813.html

The Indian government charges an 8% duty on gold that is imported into the country. There is also a 4% sales tax.

the 8% tax/duty is levied in India on any gold whether imported or existent in the country. sales tax is levied only on jewelry, not on bullion.

[churchill]

'The world changed on April 12, 2013, because the Western gold bull market ended, and the Asian gold bull era began.'

http://www.321gold.com/editorials/thomson_s/thomson_s_061813.html

The Indian government charges an 8% duty on gold that is imported into the country. There is also a 4% sales tax.

the 8% tax/duty is levied in India on any gold whether imported or existent in the country. sales tax is levied only on jewelry, not on bullion.

Thanks

[binjalin]

so with the drop - time to buy back in?

[yoshiwara]

so with the drop - time to buy back in?

Its always time to buy back in, yes? Up,down, sideways, its all the same.

[LibertyNinja1776]

Naam, on 19 Jun 2013 - 22:34, said:

i also don't think that there is any difference or "better" place to buy 24k gold. most of BKKs big goldshops exist since decades and have an excellent reputation.

Thanks Naam.

Was just wondering whether some had a lower price premium and maybe more international bars in case I need to sell (for a good price) while back I'm in New Zealand.

Last time I was in Thailand all shops (yaowarat etc) said there is no 99.9% anywhere! I should have done my research first. Here for example.

so with the drop - time to buy back in?

Its always time to buy back in, yes? Up,down, sideways, its all the same.

Not Always. Many had predicted a correction and advising to hedge (ie. sell "paper gold" short) since it was up at $1700, which I for one have done to protect gold I have. The so-called profits gained there will go back into buying more gold soon. Here's one adviser I follow (out this morning from Larry Edelson) - but read other material (eg. king world news) and decide for yourself:

***

You can also access this issue on our website.

Flash Alert: Buy gold now ...

Dear Member,

Larry here, with yet another flash alert. A very important one.

Following on the heels of my June 5 alert to grab gains and sell half of your hedge position in theProShares UltraShort Gold ETF (GLL), I believe it is now time to get your toes wet and add a small long position in gold.

I’ll have a full explanation and the details as to why in the June Real Wealth Report, publishing this Friday.

I’ll also be following up with you via a series of five complimentary online sessions starting June 26 at 2:00 PM ET. Keep an eye on your inbox for further details on how to attend.

For now, let me summarize the three major reasons why I am recommending you add a small stake in gold: Today’s Federal Reserve announcement that it will continue to buy bonds and print money is a factor, but more importantly …

First, I am seeing a subtle but important change in gold’s trading pattern. Namely, both the dollar and gold are showing signs of rallying together.

This could be a very significant change in the relationship between the dollar and gold. I believe the reason for this is …

Second, my models show that the euro currency is in danger of collapsing. Despite the euro’s recent strength against the dollar, it is very overbought and extremely vulnerable to a sharp decline.

In addition, Europe’s economy is sinking badly, and there are a number of European financial institutions that are teetering on the brink of bankruptcy. My timing models show that Europe could start to crumble at any moment, and that the next several months will be especially volatile and worrisome for Europe.

If my models are correct, this is likely to send European capital scurrying for safety. That in turn could prove to be bullish for both the dollar and gold. Hence, the reason why we are seeing a change of character in gold’s trading pattern, as noted above.

Third, technical support is firming up. There is now solid support at the $1,358 level, followed by $1,351, and then the April low of $1,310.

Please note: Today’s recommendation is what I call an “anticipatory” buy. That means I am recommending buying in anticipation of an important low forming.

“Anticipating a low forming” also means that I do not yet have confirmation that the low has been made. Thus, the reason I am only recommending a small buy right now.

If I’m right and we subsequently get a confirmed low, then I will become more aggressive.

Alternatively, if gold does fall a bit further, which is still a possibility, I will likely use that as an opportunity to average down and buy more gold.

Keep in mind this recommendation is a long-term core gold holding and part of the Basic Survival Strategies section of Real Wealth Report. That means …

A. You should expect to hold this position for up to three years, possibly longer.

B. I will not be recommending a protective stop for this position. However, I will of course be monitoring the position for you, and if there are any changes in my strategy, you will be the first to know.

C. ALL Real Wealth Report subscribers should act on this recommendation. Whether you are adding to your existing core gold holdings or this is your first buy

In addition, please note that …

D. It is not yet time to start buying mining shares. Mining shares are underperforming for several reasons, which you’ll read about in the June Real Wealth Report. But stay alert, we may soon see a bottom there as well.

E. It is also not yet time to buy silver. Silver remains vulnerable to another downdraft, even if gold holds current levels.

F. Importantly, if you remain long half of your original shares of the previously recommended ProShares UltraShort Gold, symbol GLL, continue to hold, but only if you already own gold per the Basic Survival Strategies section.

If you are a new Real Wealth Report member and this is your first buy of core gold holdings … or if you have not previously purchased shares in GLL, for whatever reason, do not buy shares in GLL at this time.

You are buying gold at much lower levels, and therefore, I do not believe this is the time to aggressively hedge, even if gold drifts lower a bit before bottoming.

***

Just an example, it's not always time to buy. But more and more seem to say now is getting close to the bottom.

Maybe this will start some (healthy) debate. Yoshi are you a wingeing pom pretending to be Japanese by any chance? ;-)

Edited June 20, 2013 by LibertyNinja1776

[yoshiwara]

Yoshi are you a wingeing pom pretending to be Japanese by any chance? ;-)[/size]

Is this you?

Edited June 20, 2013 by yoshiwara

[LibertyNinja1776]

Yes, was exposed to radiation and am now obsessed with shiny metals!

[yoshiwara]

Yes, was exposed to radiation and am now obsessed with shiny metals!

Pleased to meet you.

Edited June 20, 2013 by yoshiwara

[LibertyNinja1776]

Nice to meet you too mate. Kiwi style.

Btw. Japan is really front and centre in terms of central bank policies. This piece and video is interesting -

http://www.zerohedge.com/news/2013-06-18/kyle-bass-next-18-months-will-redefine-economic-orthodoxy-west

[yoshiwara]

Yes, was exposed to radiation and am now obsessed with shiny metals!

Well you can enjoy the spot gold price at 3pm today 1308. And the sun is shining.

Time in the afternoon for one of those Good Opportunity to Buy calls.

[churchill]

Yes, was exposed to radiation and am now obsessed with shiny metals!

Well you can enjoy the spot gold price at 3pm today 1308. And the sun is shining.

Time in the afternoon for one of those Good Opportunity to Buy calls.

I think the fall has been overdone .....

No harm buying insurance at these levels

[farang000999]

here comes 1300

[farang000999]

kingworldnews - where the news is delivered in 24 font and do it yourself 1994 html

[Naam]

Eric King: “We are in the midst of a massive gold and silver plunge here, Bill. What are your thoughts on the action we are seeing?”

Kaye: “It’s the end game of a fantastic manipulation of the markets. I’m looking at my screen now as we talk, Eric. I’m in L.A. (Los Angeles), but we are still in Asian (trading) time with London just coming in at the moment, and we’ve traded over 94,000 contracts.

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/6/20_Stunning_Volume_On_Gold_%26_Silver_Smash_In_Suspect_Trading.html

the end is nigh!

[churchill]

Eric King: “We are in the midst of a massive gold and silver plunge here, Bill. What are your thoughts on the action we are seeing?”

Kaye: “It’s the end game of a fantastic manipulation of the markets. I’m looking at my screen now as we talk, Eric. I’m in L.A. (Los Angeles), but we are still in Asian (trading) time with London just coming in at the moment, and we’ve traded over 94,000 contracts.

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/6/20_Stunning_Volume_On_Gold_%26_Silver_Smash_In_Suspect_Trading.html

the end is nigh!

It must be if Naam is reading and quoting KWN

[LibertyNinja1776]

Eric King: “We are in the midst of a massive gold and silver plunge here, Bill. What are your thoughts on the action we are seeing?”

Kaye: “It’s the end game of a fantastic manipulation of the markets. I’m looking at my screen now as we talk, Eric. I’m in L.A. (Los Angeles), but we are still in Asian (trading) time with London just coming in at the moment, and we’ve traded over 94,000 contracts.

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/6/20_Stunning_Volume_On_Gold_%26_Silver_Smash_In_Suspect_Trading.html

the end is nigh!

It must be if Naam is reading and quoting KWN

Yep, interesting stuff each time these price smashes happen in the low volume periods.

This so-called bear market might condition some not to think of gold as the long-term safe haven of choice. From a chart perspective if nothing else. Scared money might prefer US dollar assets... for now! (That's what their policy makers would want.)

From the frying pan into a proverbial fire, *eventually* that is.

Gold is very oversold. Time to buy a little I reckon.

[harryfrompattaya]

so with the drop - time to buy back in?

Please do not gold shall see 1025 now under 1300 be very careful

[midas]

meanwhile over in Shandong province .................

Gold promotion draws 10,000 buyers in E China

While gold markets in the US and Europe saw panic selling, China has just seen a surge in gold sales in the past few months. Chinese households came under the spotlight with their generous purchase of the gold products amid a global fall of the gold price

http://usa.chinadaily.com.cn/china/2013-06/12/content_16611576.htm

[Naam]

meanwhile goldbugs in various provinces worldwide:

[yoshiwara]

Eric King: “We are in the midst of a massive gold and silver plunge here, Bill. What are your thoughts on the action we are seeing?”

Kaye: “It’s the end game of a fantastic manipulation of the markets. I’m looking at my screen now as we talk, Eric. I’m in L.A. (Los Angeles), but we are still in Asian (trading) time with London just coming in at the moment, and we’ve traded over 94,000 contracts.

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/6/20_Stunning_Volume_On_Gold_%26_Silver_Smash_In_Suspect_Trading.html

the end is nigh!

It must be if Naam is reading and quoting KWN

Gold is very oversold. Time to buy a little I reckon.

Thank goodness someone stepped forward with that advice.

Now we need someone to check in with the 'Asian hordes besieging gold shops and clearing the shelves' message, followed by one telling us that it is only paper gold going down whereas physical gold is rocketing to new levels (or 'er will soon).

[yoshiwara]

The facts speak for themselves:

[LibertyNinja1776]

The facts speak for themselves:

gold index.png

I wonder where that would put choc.gold on that chart today. Dropping to find some support I hope

I found this fairly entertaining & insightful comment about what the Fed may be up to lately on zerohedge:

TruthInSunshine

Record margin debt (so large, it dwarfs any prior amounts), bitchez.

85 billion of combined MBS & Treasury purchases by Benny & the Inkjets monthly ain't what it used to be, and Bernakiocletian completely lied yesterday when he patently mischaracterized the nature of stock -vs- flow.

If one had the correct amount of cynicism, one could mount a credible theory that bubbles-bubbles-brewing-everywhere had Ben worried, and a nice, healthy smackdown of the equity markets is just what the doctor (Ph.D., not M.D.) ordered, to take heat off Benny Boy for loading the equity dice so fully.

But long term, it's all good, because electronic stock certificates are rock solid respositories of real wealth.

BTFD.

p.s. Keep an eye on treasury yields & commodity prices, which are the proverbial rock(et) and hard (asset) place Ben is squeezed between whenever reaching for CTRL+P.

***

Found here (http://www.zerohedge.com/node/475498)

Given the Fed talk, this is probably the environment where gold is least favoured. A time for contrarians to start buying? Probably...

[midas]

Indians Are Urged to Get Over Their Gold Bug

At a news conference last week, India's harassed finance minister, P. Chidambaram, addressed the issue of the rising current account deficit and the fall of the rupee against the dollar. His message to his countrymen: Please stop buying so much gold.

Arguing that investing in gold was for many Indians a perfectly logical decision, Monika Halan wrote in the business newspaper Mint:

I hold the view that the Indian household makes a sensible decision to hoard gold. It is sensible because access to financial assets remains difficult and where access is easy, the regulatory failure to stop large-scale cheating of retail investors ... has broken the fledgling faith in markets for the average investor. Regulatory and institutional failure is the reason people hoard gold and not because they are stupid. And as the country looks more and more unstable, we buy more and more gold—perfectly logical and rational. This is no different than industrialists moving their business overseas and the rich buying real estate and stock abroad.

http://www.bloomberg.com/news/2013-06-20/indians-are-urged-to-get-over-their-gold-bug-.html

Edited June 21, 2013 by midas

[churchill]

Turn Point ?

'Disasters are often associated with major market turns. Reader GannMan points out that the June 23 Full Moon is also a Supermoon, which means that it is at its closest approach to Earth in its elliptical orbit. Supermoons are often correlated with disasters, and there is indeed a potentially dangerous disaster setup at this time.'

'June 22/23

There are several important events lining up on June 22/23 (a weekend). This is likely to be a major inflection point.'

http://planetforecaster.blogspot.com/2013/06/june-2223.html

[Naam]

Turn Point ?

'Disasters are often associated with major market turns. Reader GannMan points out that the June 23 Full Moon is also a Supermoon, which means that it is at its closest approach to Earth in its elliptical orbit. Supermoons are often correlated with disasters, and there is indeed a potentially dangerous disaster setup at this time.'

'June 22/23

There are several important events lining up on June 22/23 (a weekend). This is likely to be a major inflection point.'

http://planetforecaster.blogspot.com/2013/06/june-2223.html

Supermoon = Gold below $1,000/ounce?

[churchill]

Easy to mock astrology but can you explain it ...

I have received incredible personal predictions in the past and take it as seriously as charts and the rest ...

A gold margin call

http://ftalphaville.ft.com/2013/06/21/1542702/a-gold-margin-call/

[Naam]

I have received incredible personal predictions in the past and take it as seriously...

me too! last year a self-appointed astrologer told me "i can see a young lady quite often entering your bedroom begging that she might share your bed."

he was right! quite often a young lady accompanied by a young lad are entering my bedroom and demand to share my bed, especially during a thunderstorm with lightning and thunder.

that's what they look like:

[Pib]

I have received incredible personal predictions in the past and take it as seriously...

me too! last year a self-appointed astrologer told me "i can see a young lady quite often entering your bedroom begging that she might share your bed."

he was right! quite often a young lady accompanied by a young lad are entering my bedroom and demand to share my bed, especially during a thunderstorm with lightning and thunder.

that's what they look like:

T+M.jpg

I hope you have never got that lad and lady really mad at you...looks like they could chew a person's toes off if they got mad and had plenty of time.