So is now the time to go and buy some gold?

[smotherb]

I purchased gold 11 years ago, my bank looks after it for me and pays me Baht for the privilege of keeping it safe.

Buy it and forget about it, don't think of a quick term investment if you can afford it.

That's what I'd say if i bought it for more than $1100, but it's right

[MW72]

I have been buying mainly gold and silver but a little bit of platinum and palladium in dribs and drabs for the last 12 months or so. I chose to do so as I was fortunate enough to have a bit of money saved up. Most of it went on the mortgage but I decided to spend a little on some metal rather than leave a chunk in the bank earning no interest. I decided to do it as a long term thing for a bit of fun.

I don't ever expect to make my fortune from investing in precious metals. I don't have enough invested or the market know how for that. I am already a couple of grand down as the prices keep dropping but I'm not about to hang myself. A bit like going to a casino, I only bet what I could afford, or even like living in Thailand, I invested what I was willing to walk away from. Maybe one day the world's markets will got crazy and I will be sitting on a gold mine so to speak or, more than likely in 20 or 30 years time I'll be an old man and my metal will be worth pretty much the same adjusted for inflation as when I bought it.

It is hard to judge when the market will bottom out and you should invest. Although I have lost a wee bit, every time I have gone to buy it has been cheaper every time.

If you do decide to invest then keep it somewhere safe. Don't show it off. Don't tell anyone. There are videos on youtube off guys who told "friends" who then broke into their houses and ripped them off.

Take it out every now and then and admire it but don't expect to get rich quick.

[pinkpanther99]

There are a lot of folks with different opinions. Many of the pro-gold crowd also sell and trade gold. That's a built-in bias.

Also, what is really going on under the covers of the banks and regulatory agencies isn't something that you and I are privy to. That puts us at a disadvantage.

Check out Kitco.com for a pro-gold source of info.

Then check out someone like Harry Dent Jr to get the other side of the picture. http://harrydent.com/

Or just go out and buy a nice piece of gold jewelry that you like, plan to keep it for the rest of your life, and don't worry about the economics. That's probably the best advice.

Thanks. I'll take a look at the those

[impulse]

Silver price: I'll pass, thank you very much. If there's a better textbook example of "bubble" than commodity metals, I haven't seen it. Except maybe USA real estate in 2007, and we all know how that went.

Edit: Oh, and the price of ammunition after every Democrat president is elected, but those bubbles never last long.

Edited July 26, 2015 by impulse

[sammygood]

smart move : buy low, sell high

in 2000, the 1 baht gold chain was 11.000 baht

[oldfeller]

The average person cant afford to buy enough gold to make a reasonable profit.

This is what I get from the internet. Lots of opinions and information on you tube to consider.

Following is a prevalent point of view.

>>always do your own research<<<

Look at silver long term..... it's cheap, won't break the bank to get a little. About US$14.70/oz

Gold isn't used as much in industry compared to silver. Silver is mostly consumed by medicine, industry, etc, therefor gone for the most part. At the present prices of gold and silver, it is not feasible to mine, so any consumable metals are not being replaced at the present rate of consumption.

According to Goldcorp the true ratio of gold price to silver price should be 20 to 1. eg if gold is $1200/oz, silver should be $60/oz..... or roughly... 20 oz of silver can buy 1oz of gold.

The ratio today is about 72 to 1..

From what I read, the whole thing is full time manipulated, and this can not continue for ever. Sooner or later the whole thing will have to reset to reality, silver will go to it's real price ratio. If it runs out, even higher.

Having said that... research for yourself, do not believe all you hear<<<

[gazzasore]

For those wanting to import Silver beware keep you parcels under 40.000 thb as you will pay Duty on everything over that

[connda]

Go ask Jamie Dimon. Follow his instructions to the tee. In no time, you'll be flat broke, and Mr. Dimon who recommended for you to go long (or short) took the other side of the deal, because they do know which way the market is moving. Who do you think is moving it? So take JP Morgan's advice, turn it around, and make some money. Lol

But I still advise just buying a nice piece of gold jewelry and keeping it for life. But if your 5 baht of gold ever does goes up to 20 million THB, then sell it and buy some really cheap quality stocks. LOL

Edited July 26, 2015 by connda

[gazzasore]

I buy Silver from http://www.perthbullion.com/shop/listings/silver-bars/

Its the cheapest way to get it here Postage seems cheaper coming from Australia

and yes make sure you keep your Packages under 40,000 thb as Duty on everything over that

Edited July 26, 2015 by gazzasore

[impulse]

smart move : buy low, sell high

in 2000, the 1 baht gold chain was 11.000 baht

Which is about a 3% annual return if you sold it today, after 15 years. Minus the risk you take for holding something that could have been stolen.

It's better than losing money, but not the best investment.

[gazzasore]

smart move : buy low, sell high

in 2000, the 1 baht gold chain was 11.000 baht

Which is about a 3% annual return if you sold it today, after 15 years. Minus the risk you take for holding something that could have been stolen.

It's better than losing money, but not the best investment.

Yes when you consider since the Dollar was taken off the the Gold standard in 1971

Inflation has taken about 99% of the Dollar's value

Also unless you got a higher interest rate on your money than Inflation rate you were going backwards

[impulse]

Also unless you got a higher interest rate on your money than Inflation rate you were going backwards

And therein lies the rub. The banksters have made sure you can't get higher than the inflation rate without the risk inherent in the money passing through their corrupt system. They take a little off the top of each transaction, a little off the bottom, annual service fees, and every few years, a big chunk out of the middle when the market collapses.

My heart goes out to folks who worked all their lives, expecting to retire off their compounded savings and now get a pitiful (criminal, in my mind) rate on any kind of secure deposit. I'll be one of them in a few years, and the forecast is even bleaker for us, and bleaker still for our kids.

[Suradit69]

Louise Yamada, a respected technical analyst, sees $1072 as support that needs to be held to forestall a drop below $1000, which in turn could see longer term price falling to $800.

I'm not agreeing with or disagreeing with her, but much of the pricing in gold has little to do with buying/selling of physical gold and more to do with trades in the financial market's paper derivatives (theoretically) based on gold ... and those are driven by traders who do watch the technicals.

There are arguments concerning crisis hedging and maintaining value as opposed to fiat currency, which may have some validity, but looking at the chart below for GLD for 5 years during which time we've had a financial crisis in the Eurozone, stock market meltdown in China, invasion of Ukraine, major civil unrest in the Middle East and passenger airplanes vanishing, gold hasn't provided much comfort.

I'm long some Thai physical gold bars and, based on the strength of the dollar against the baht and gold, I may add to that, but it's always a good idea to think about both the potential positives and negatives going forward.

video of her commentary: http://www.cnbc.com/2015/07/30/gold-could-sink-to-800-yamada.html

Edited July 31, 2015 by Suradit69

[Suradit69]

Prediction is $850/oz by end of year and will likely fall a lot further in 2016, possibly to $400/oz. Gold is a safe haven in time of crisis so wait for the next global stock market crash, which is likely to happen in 2019, then buy.

Surely waiting for the next crisis will be too late. If everyone rushes to gold as a safe haven then the price will soar with demand. The trick will be to buy just before the crash when the price is rock bottom and then to sell when the price soars.

Anyone got a crystal ball so I can see when the next crash will be?

" Surely waiting for the next crisis will be too late. If everyone rushes to gold as a safe haven then the price will soar with demand."

Actually it tends to happen the other way around. When there's a financial crisis (such as the Chinese stock market meltdown) and you are faced with margin calls or stocks you can't sell or ATMs the government has shut down & banks that are closed or exchange rates that are killing your retirement funding ... you don't think "hey, I'll buy some gold." You think, "what can I sell to raise cash?" ... and you sell your gold.

Obviously there are people with cash in a crisis ready to buy the gold you need to sell, but they won't be the ones panicking ... so they'll want you to sell it to them cheap.

Edited July 31, 2015 by Suradit69

[Suradit69]

If you look at price over the long term, it seems to me that it's a form of protection against market movements, and not a way to make money (unless you can trade the swings, which I'm not skilled in the art of)..

Personally I wouldn't buy at these prices and would wait a year or two, but that's just opinion.

What is your timeframe?

I like cryptos better for a bit of action, but it's not everyone's cup of tea.

"If you look at price over the long term, it seems to me that it's a form of protection against market movements, and not a way to make money (unless you can trade the swings, which I'm not skilled in the art of).."

I agree to a point about the traditional inverse relation between stocks and gold, but the gold tracking ETF got started in 2004 and since then it and other financial gold derivatives have grown in importance ( to put it mildly) ... and those are trading on a daily basis by the same people who trade stocks.

These days, aside from major government purchases/sales of physical gold, the price is more driven by these paper by-products of gold, so when there's a slide in stock prices, traders often sell their paper gold to help them deal with losses, margin calls, etc in their stock holdings.

And, of course, as was recently revealed, traders on the London metals exchanges & firms like Goldman Sachs were found to be guilty of collaborative price fixing.

[impulse]

Louise Yamada, a respected technical analyst, sees $1072 as support that needs to be held to forestall a drop below $1000, which in turn could see longer term price falling to $800.

I used to listen to the soothsayers.

Have a look at the 100 years of history on this link, and do some critical thinking, understanding that every time there's a bubble, the soothsayers tell us why it's "different this time" (it's really not). You can even ignore the data before the US went off the gold standard. It's still scary.

http://www.macrotrends.net/1333/historical-gold-prices-100-year-chart

Here's 25 years of history from post #11 in case you don't want to look at the link: I'm seeing a lot of downside below $800 if it goes back on its historical trend.

BTW, look up China commodities market history to see what I think is the explanation for the bubble in commodity metals starting in 2005. IMO, hot (corrupt) money looking for a place to hide. Same thing's happening to their real estate market.

Edited July 31, 2015 by impulse

[rocketboybkk]

the time to buy gold has passed away as long as 3 to 4 years ago was the time to buy but not now that it is going down.

Good news indeed.

3-4 years

In 2001 gold was 5000bt per baht and the exchange rate was above 60

That was the time to invest, not 3/4 years ago

Sent from my iPhone using Tapatalk

[hugocnx]

the time to buy gold has passed away as long as 3 to 4 years ago was the time to buy but not now that it is going down.

Good news indeed.

3-4 years

In 2001 gold was 5000bt per baht and the exchange rate was above 60

That was the time to invest, not 3/4 years ago

Sent from my iPhone using Tapatalk

Moo said the cow, sorry rocketboy.

What 3 to 4 years? Make it 7 to 8. Doggie seems unable to even 'read' the graphs that are presented in this topic.

That price of gold will come down is a so called open door profecy. And the other profecy is that it will sky rocket after that.

Am I a doom/conspiracy thinker? Yes, probably so, we will be and are already fooled by the people pulling the strings.

There is a video link almost on top of this topic. The presentor says something like that he is likely to do the opposite. Maybe not so dumm this guy. BUT, he is a presentor and makes money on 'advising' an audience that even pays for whatever nonsence is sprayed all over them. Watch your behind and don't look back.

New things are happening in the future. Whatever you think is real today is gone 2morrow.

My opinion on this, but I would be an a$$ if I would not buy gold below 1000$

[Rancid]

Everyone has a theory on gold prices, but if bankers hate it then there has to be something good about it. I bailed all my gold & silver holdings a while ago and did OK as I got out at an OK price before it tanked as my currency was also down. Most of the non-selling sites I read are predicting it will go lower, might even get a bounce up soon but then predicted it will tank again.

I will buy some again when the price is low and everyone hates it to death, just find a good place to bury it. Remember though many gold sites are are just selling their products so are always saying its going to the moon. I admittedly like the stuff, but wouldn't put all my dough in it, just a hedge. need to watch the UD dollar and seems it might be going up for a while yet.

[stament]

So overall consensus is to hold off buying gold as it will continue to depreciate

[gazzasore]

Charts and TA mean nothing in Manipulated market

Just Buy your Gold and Silver and wait

There is no wrong time to buy when the prices are this low

And one thing to add ONLY BUY PHYSICAL

[M71]

I buy Silver from http://www.perthbullion.com/shop/listings/silver-bars/

Its the cheapest way to get it here Postage seems cheaper coming from Australia

and yes make sure you keep your Packages under 40,000 thb as Duty on everything over that

Thanks gazzasore,

Is there 7% VAT charged by Thai customs on legal tender silver 1 oz coins [American Eagles etc] or any other tax/charges?

Or does it pretty much get delivered here without any charges at this end.

[gazzasore]

I buy Silver from http://www.perthbullion.com/shop/listings/silver-bars/

Its the cheapest way to get it here Postage seems cheaper coming from Australia

and yes make sure you keep your Packages under 40,000 thb as Duty on everything over that

Thanks gazzasore,

Is there 7% VAT charged by Thai customs on legal tender silver 1 oz coins [American Eagles etc] or any other tax/charges?

Or does it pretty much get delivered here without any charges at this end.

Just keep your Parcels below 40,000 thb and there should be no Taxes

[gazzasore]

People that dont think its being Manipulated go here http://www.gata.org/

[suzannegoh]

People that dont think its being Manipulated go here http://www.gata.org/

Knowing that it is manipulated is not enough. In the absensce of knowledge about which direction it's going to be manipulated next, how far and how fast it's going to be manipulated, and when it's going to be manipulated, "manipulation" is little more than an alibi for being on the wrong side of the trade.

Edited August 1, 2015 by suzannegoh

[gazzasore]

Worth a look for those who are unsure

[SheungWan]

Paul Craig Roberts is away with the fairies. However, that is a secondary side-show. What the OP does with his 100,000 is of little interest and hardly worth the bother of considering what to do. A primary side-show.

[M71]

Worth a look for those who are unsure

Great interview and good that there at least some calm knowledgable people out there with nothing to sell just speaking the truth.

Paul Craig Roberts is an American economist and blogger. He served as an Assistant Secretary of the Treasury for Economic Policy in the Reagan administration.

[suzannegoh]

Worth a look for those who are unsure

Great interview and good that there at least some calm knowledgable people out there with nothing to sell just speaking the truth.

Paul Craig Roberts is an American economist and blogger. He served as an Assistant Secretary of the Treasury for Economic Policy in the Reagan administration.

Roberts is good now but he was better in previous years, when as a frequent guest on the Alex Jones show he would explain the mathematical certainty that QE would collapse the dollar and trigger an inflationary spiral.

[Asiantravel]

Perth Mint and U.S. Mint Cannot Meet Demand as Gold Bullion Demand Surges

Depressed prices have led to the usual market response, a surge in physical demand for coins and bars globally.

This is confirmed in conversations we have had with our refiner and mint partners in recent days. There are growing shortages of supply of small coins and bars. This is resulting in delays in receiving bullion and indeed to rising premiums.

Asian gold demand picked up this week keeping premiums robust and slightly higher in the world’s top gold buying regions.

http://www.goldcore.com/us/gold-blog/perth-mint-and-u-s-mint-cannot-meet-demand-as-gold-bullion-demand-surges/