Gold price in Thailand to drop further this month

[Robert2006]

The United States is still the largest economy in the world last time I checked. And what makes you so sure the numbers are fudged? You have a top position at the Department of Labor Statistics? The Department of Commerce? The Bureau of Economic and Business Affairs maybe? Bear in mind as well that it isn't all about employment data. Oh, and the Fed has stopped buying assets in case you haven't noticed. In contrast, the Japanese are just beginning down the road to quantitative easing, and the ECB is primed and ready to step on that path. You've seen what QE did to the value of the USD relative to world currencies in the last six years (less actually as the USD has been in an uptrend since May). Now imagine the reverse scenario where the U.S. is NOT buying their own assets, but the rest of the world is. What do you think will happen to the USD (which also happens to still be the reserve currency of the world). Oh, and as to all the big wig cronies or whatever you want to call them...they can still make money if the the USD strengthens. The stock market is hardly the ONLY game in town.

Let's look at the numbers from the rest of the world shall we? Japan has been stagnant for over 20 years and is doing anything and everything to boost their growth. The European Union has far greater unemployment relative to the U.S., no growth to speak of and the possibility of deflation on the horizon. China is no longer growing in double digits, and in fact there is a good chance that their own 7.5% growth level is fudged. Not to mention the possibility that they are sitting on trillions of dollars of bad real estate loans.

Say what you wish about the U.S. economy, but it is the best choice in a bad set when looking at the world's developed economies. Australia or Canada might compare favorably, except for their pesky reliance on commodities and the fact that said commodities are falling in value as the USD strengthens.

And say what you will about gold and silver being currencies...I challenge you to go out and buy dinner, a tank of gas, or groceries with any gold and silver you may be holding.

I don’t agree, the numbers are defiantly fudged, they are so fudged they are almost meaningless. The US is the currently the best economy in the world I agree with that.

It’s very easy to buy a tank of gas or go out to dinner with the money derived from gold; you just stop at any one of the hundreds of gold shops in your city and convert your gold into Baht, instantly.

Oh yes, the Mad Max Dinner Party Crowd do this all the time.

Mad Max dinner party, did I miss something? What does that have to do with our discussion?

[Asiantravel]

$1220 is a nice rise from todays price.

Who writes this crap?

Because I was curious to know more about who exactly is the gold research Centre I found their website advertised on the website of the Gold traders Association of Thailand (and these are the people who set the daily price).

But the gold research Centre website doesn't even work

www.gold.or.th

(and these are the people who set the daily price).

Wow, really, and here was poor dumb old me thinking the world markets set the price.

+ one for Thainess, they actually have the ability and wherewithall to influence world markets, just coz Little Lek was cashing in her stipend from her latest farang at Yaowarat today.

maybe you are not dumb but you are clearly uninformed because you don't understand how the gold market in Thailand works

Every shop in Thailand follows the gold price set by the Thai Gold Traders Association. Thai Gold price does not fluctuate very often like the world gold market, because it only changes in multiples of 50 baht and Thai Gold shops are required to immediately change their display prices when the price is announced. You can also check the latest thai gold prices here or charts of thai gold price history.

http://www.goldpricethai.com/facts

Edited November 13, 2014 by Asiantravel

[SheungWan]

As we can clearly see here the gold price in Thailand is thoroughly disconnected from the rest of the world:

http://www.goldpricethai.com/charts.php?type=5-year

Edited November 13, 2014 by SheungWan

[JeezeLooeze]

The spot gold price reflects the trading of "paper" gold by central banks to maintain confidence in fiat currencies and keep up investor confidence in stocks, bonds etc. and away from gold. The simple fact that average costs are about USD1,000 for miners to dig 1oz t of REAL gold out of the ground (before profit) indicates just how unrealistic the current gold price is for physical gold. As world gold stocks move from west to east, it will not be London or New York that will be setting the spot price but Shanghai, and the Shanghai Gold Exchange only trades in physical gold.

[Naam]

As we can clearly see here the gold price in Thailand is thoroughly disconnected from the rest of the world:

http://www.goldpricethai.com/charts.php?type=5-year

thai-gold-price-5-years.png

and when Shanghai starts trading then...

p.s. at least that's a new 'bug' argument.

[Naam]

As of about a month ago, China is the world's largest economy, 16.48% vs 16.28% for the US. China's also buying a lot of gold. However, none of that means poot because the price of gold is manipulated by the banksters in NY and London.

not to forget those manipulative aliens from the Delta Quadrant who are interested to buy gold from us at utmost low prices because they need for their currency "Gold Pressed £atinum"

[SheungWan]

The spot gold price reflects the trading of "paper" gold by central banks to maintain confidence in fiat currencies and keep up investor confidence in stocks, bonds etc. and away from gold. The simple fact that average costs are about USD1,000 for miners to dig 1oz t of REAL gold out of the ground (before profit) indicates just how unrealistic the current gold price is for physical gold. As world gold stocks move from west to east, it will not be London or New York that will be setting the spot price but Shanghai, and the Shanghai Gold Exchange only trades in physical gold.

Crucial physical gold demand from China absent - ANZ.

http://www.bulliondesk.com/gold-news/focus-crucial-physical-gold-demand-from-china-absent-anz-84599/

Well fancy that!

Edited November 14, 2014 by SheungWan

[liddelljohn]

Russia still buying large amounts of gold , preparing for currency war with USA ,, Kremlin authorising daily buys last month 53 tons of the stuff ,,they will continue to buy whilst it is low .

chinese governmenmt was a net buyer until recently but now dormant

Gold price could still fall further a lot of bad world economic and conflict news currently in the price and it still does not rise much .