Boing Boing.....

[jaideeguy]

I keep a gold price website open that alerts me of any changes in the price of gold and it goes 'boing boing' when there is any change.....usually 50-100thb changes, but a few minutes ago it 'boinged' down 250thb. Must be a run on selling Thai gold and shops can't keep up with demand for cash???

Wonder why everyone is panicking??

[teatree]

The price isn't driven that much by local factors. The price of gold worldwide has dropped sharply in the past couple of days, nothing at all to do with the riots in Thailand.

[morphious]

Gold down and the Baht getting even stronger <deleted>?????

[jaideeguy]

I wonder.....nothing to do with [local] supply and demand?? In our little town [subburb of CM], there are only 5 gold shops and they were all closed. Assumed from a run on gold...to get cash in hand to survive thru the seige of the 'red rats' that are infesting CM. I did witness lots of ATM usage and not for small baht, but most were major withdrawals. I did same same....just in case.

[Zstarx]

Stronger US$ = lower gold price

[gregb]

Options expiring.

Drop was predictable. Kitco had a whole thread about how steep the drop was going to be between the 16th and 20th.

Should consolidate next week, and then display which direction it is heading in the near term. My guess is it will start creeping back up again, but it could just sit horizontally for a while.

Larger trend isn't broken yet. Buy it now. It will be over 20k next year.

[zaphodbeeblebrox]

The price isn't driven that much by local factors. The price of gold worldwide has dropped sharply in the past couple of days, nothing at all to do with the riots in Thailand.

Gold is currently trading at $1,199.00 per ounce. That's $42.25, or just under 3%, off the all-time high of $1,241.25 per ounce set one week ago on May 12. It's really not a very significant drop, considering it just reached an all-time high.

[teatree]

The price isn't driven that much by local factors. The price of gold worldwide has dropped sharply in the past couple of days, nothing at all to do with the riots in Thailand.

Gold is currently trading at $1,199.00 per ounce. That's $42.25, or just under 3%, off the all-time high of $1,241.25 per ounce set one week ago on May 12. It's really not a very significant drop, considering it just reached an all-time high.

I would call a 3% drop in a couple of days is quite a sharp drop.

[jaideeguy]

And still dropping.......boing boing

[yeesipha]

Gold down and the Baht getting even stronger <deleted>?????

Bubble and burst spring to mind