No Gold Bars For Sale During Weekends

[george]

No gold bars for sale during weekends

BANGKOK: -- Some gold shops will not trade gold bullion on weekends starting from next months after they ran out of stock the bullions and gold ornaments.

Large crowds of people were seen flocking in many gold shops after the prices of the metal reduced sharply.

However the gold ornaments will be for sale as usual.

Jitti Tangsithpakdi, the president of Gold Trader Association said Friday that the gold traders decided that starting from next month, many of gold traders would not trade the gold bullion on weekend.

"Foreign markets across the world are closed on weekend, therefore if we still trade, sellers and buyers will take risk in price margin, therefore many gold traders don't want to trade gold bullion and asked the association to explain to consumers," said Jitti

The president said that the volatility of gold price in the global market caused the gold price in Thailand to changes for many hundreds Baht in a day.

Besides the trade volume recently is much higher than usual, therefore it's risky to trade without knowing the exact price.

"Right now there are only big amount of buying order or selling order, therefore after receiving the order, we can't trade in the country but we have to trade in the foreign market which gain lower margin, so we must protect our risk," said the president.

-- The Nation 2008-10-24

[teatree]

No gold bars for sale during weekends

BANGKOK: -- Some gold shops will not trade gold bullion on weekends starting from next months after they ran out of stock the bullions and gold ornaments.

Large crowds of people were seen flocking in many gold shops after the prices of the metal reduced sharply.

However the gold ornaments will be for sale as usual.

Jitti Tangsithpakdi, the president of Gold Trader Association said Friday that the gold traders decided that starting from next month, many of gold traders would not trade the gold bullion on weekend.

"Foreign markets across the world are closed on weekend, therefore if we still trade, sellers and buyers will take risk in price margin, therefore many gold traders don't want to trade gold bullion and asked the association to explain to consumers," said Jitti

The president said that the volatility of gold price in the global market caused the gold price in Thailand to changes for many hundreds Baht in a day.

Besides the trade volume recently is much higher than usual, therefore it's risky to trade without knowing the exact price.

"Right now there are only big amount of buying order or selling order, therefore after receiving the order, we can't trade in the country but we have to trade in the foreign market which gain lower margin, so we must protect our risk," said the president.

-- The Nation 2008-10-24

Running out of gold and yet the price continues to fall....strange.

[VegasVic]

No gold bars for sale during weekends

BANGKOK: -- Some gold shops will not trade gold bullion on weekends starting from next months after they ran out of stock the bullions and gold ornaments.

Large crowds of people were seen flocking in many gold shops after the prices of the metal reduced sharply.

However the gold ornaments will be for sale as usual.

Jitti Tangsithpakdi, the president of Gold Trader Association said Friday that the gold traders decided that starting from next month, many of gold traders would not trade the gold bullion on weekend.

"Foreign markets across the world are closed on weekend, therefore if we still trade, sellers and buyers will take risk in price margin, therefore many gold traders don't want to trade gold bullion and asked the association to explain to consumers," said Jitti

The president said that the volatility of gold price in the global market caused the gold price in Thailand to changes for many hundreds Baht in a day.

Besides the trade volume recently is much higher than usual, therefore it's risky to trade without knowing the exact price.

"Right now there are only big amount of buying order or selling order, therefore after receiving the order, we can't trade in the country but we have to trade in the foreign market which gain lower margin, so we must protect our risk," said the president.

-- The Nation 2008-10-24

Running out of gold and yet the price continues to fall....strange.

I have heard this same story from other areas of Asia, India, Europe and even in the U.S. . At first I thought it was just the usual goldbug nonsense , like hyper inflation is always just around the corner and fiat currency is dead ect. ect., but this appears to be for real. There is something going on here that doesn't meet the eye! Maybe the central banks worldwide are buying up all the available bullion?

[Pakboong]

No gold bars for sale during weekends

BANGKOK: -- Some gold shops will not trade gold bullion on weekends starting from next months after they ran out of stock the bullions and gold ornaments.

Large crowds of people were seen flocking in many gold shops after the prices of the metal reduced sharply.

However the gold ornaments will be for sale as usual.

Jitti Tangsithpakdi, the president of Gold Trader Association said Friday that the gold traders decided that starting from next month, many of gold traders would not trade the gold bullion on weekend.

"Foreign markets across the world are closed on weekend, therefore if we still trade, sellers and buyers will take risk in price margin, therefore many gold traders don't want to trade gold bullion and asked the association to explain to consumers," said Jitti

The president said that the volatility of gold price in the global market caused the gold price in Thailand to changes for many hundreds Baht in a day.

Besides the trade volume recently is much higher than usual, therefore it's risky to trade without knowing the exact price.

"Right now there are only big amount of buying order or selling order, therefore after receiving the order, we can't trade in the country but we have to trade in the foreign market which gain lower margin, so we must protect our risk," said the president.

-- The Nation 2008-10-24

Running out of gold and yet the price continues to fall....strange.

I have heard this same story from other areas of Asia, India, Europe and even in the U.S. . At first I thought it was just the usual goldbug nonsense , like hyper inflation is always just around the corner and fiat currency is dead ect. ect., but this appears to be for real. There is something going on here that doesn't meet the eye! Maybe the central banks worldwide are buying up all the available bullion?

Check out this link and you will find that you probably guessed correctly.

http://news.silverseek.com/TedButler/1219417468.php

[george]

Yaowarat quiet after suspension of gold bars sale

BANGKOK: -- Atmosphere at Yaowarat has become rather quiet on Saturday after the Gold Traders Association suspends the sale of gold bars this weekend following huge fluctuations in prices and the fact that gold bars are out of stock.

Because of the drastic fall in the price of the gold bars in the past couple of days, people flock to gold shops to buy gold bars, which cause the bars to be out of stock.

The sale of the gold bars will resume on Monday.

-- Bangkok Post 2008-10-25

[philstone]

No gold bars for sale during weekends

BANGKOK: -- Some gold shops will not trade gold bullion on weekends starting from next months after they ran out of stock the bullions and gold ornaments.

Large crowds of people were seen flocking in many gold shops after the prices of the metal reduced sharply.

However the gold ornaments will be for sale as usual.

Jitti Tangsithpakdi, the president of Gold Trader Association said Friday that the gold traders decided that starting from next month, many of gold traders would not trade the gold bullion on weekend.

"Foreign markets across the world are closed on weekend, therefore if we still trade, sellers and buyers will take risk in price margin, therefore many gold traders don't want to trade gold bullion and asked the association to explain to consumers," said Jitti

The president said that the volatility of gold price in the global market caused the gold price in Thailand to changes for many hundreds Baht in a day.

Besides the trade volume recently is much higher than usual, therefore it's risky to trade without knowing the exact price.

"Right now there are only big amount of buying order or selling order, therefore after receiving the order, we can't trade in the country but we have to trade in the foreign market which gain lower margin, so we must protect our risk," said the president.

-- The Nation 2008-10-24

Running out of gold and yet the price continues to fall....strange.

They are afraid to set a buy price on fear they will have to buy huge amounts of gold bars. The Gold shops are afraid of buying not selling. Once again Gold shops post a buy and sell price. They are afraid what the price could be on Monday when trading starts in Australia and Japan If people were buying gold would have not fallen 180 dollars a oz in less than 2 weeks Gold shall hit 400 dollars a oz. If one can not understand this simple fact one not be buying gold

Edited October 25, 2008 by philstone

[flying]

They are afraid to set a buy price on fear they will have to buy huge amounts of gold bars. The Gold shops are afraid of buying not selling. . If one can not understand this simple fact one not be buying gold

I see & perhaps you can show us where to buy these then?

The simple fact is you will find it quite impossible to find gold for sale in the USA right now at a decent price or near spot as in less than 70-100 above spot per oz.

Of course there is Ebay Good luck with that

I am not surprised that soon the same will be true in TL. At least the smaller bars.

There are still some large bars here but they start at 25k USD for 1000 gram bars.

But I tell you assure I hope your right

Edited October 25, 2008 by flying

[OriginalPoster]

They are afraid to set a buy price on fear they will have to buy huge amounts of gold bars. The Gold shops are afraid of buying not selling. . If one can not understand this simple fact one not be buying gold

I see & perhaps you can show us where to buy these then?

The simple fact is you will find it quite impossible to find gold for sale in the USA right now at a decent price or near spot as in less than 70-100 above spot per oz.

Of course there is Ebay Good luck with that

I am not surprised that soon the same will be true in TL. At least the smaller bars.

There are still some large bars here but they start at 25k USD for 1000 gram bars.

But I tell you assure I hope your right

Kitco still has inventory of 400-ounce bars at about 0.7% above spot, if that helps.

Edited October 25, 2008 by OriginalPoster

[flying]

Kitco still has inventory of 400-ounce bars at about 0.7% above spot, if that helps.

Thanks I will get right on that $296,320.00

Funny but I do buy 400 oz at a time but its that other cheaper metal

Silver 2 bucks over spot/oz

Edited October 25, 2008 by flying

[lannarebirth]

It would appear this is not a scarcity of metal problem, but a recognition that Gold is in a downtrend and there is quite a bit of price volatility presently. Gold sellers in Thailand are not accustomed to the risks of the more sophisticated markets, and would much prefer to earn their livings off the vig associated with many transactions both large and small.