GOLD

Well in this case I would say being driven by fear. I don't know a thing about it. But, the guys in this article does so I would approach with caution. If you have already been holding it your more then likely in great shape. But, at these levels be careful.

http://www.bangkokpost.com/business/new ... n-reserves

KD - you mentioned that some shops are stocking 10 baht bars now. We're talking about 96.5 (Thai) gold, correct? Earlier in the thread, you mentioned 99.99% as being available, but by order only. Is it worth it to get the pure stuff, or pay a bit less and buy Thai gold?

Thx,
-S

Be careful over the next few days, let things settle a bit, even gold took a hit last night. Cash seems to be the safe haven flavor of the day last night, Watch things closely before you b put cash out, If you already hold it not enough to worry about yet.

Worth keeping an eye on.

I went to a defensive position in a stocks.

Sateev wrote:KD - you mentioned that some shops are stocking 10 baht bars now. We're talking about 96.5 (Thai) gold, correct? Earlier in the thread, you mentioned 99.99% as being available, but by order only. Is it worth it to get the pure stuff, or pay a bit less and buy Thai gold?

Thx,
-S

96.5%, correct. IMHO, if you plan on selling the bars abroad, go with 99.99%. If you plan on selling them in Thailand (or the region, for that matter), go with the 96.5%.

This is a good site to check to see what is happening here:

http://phuketindex.com/update-gold-e.htm

Thanks, KD and Bumper.

I'm a buy-and-hold guy, which is why I'm considering adding physical now. Not too worried about nightly fluctuations ("fluc you white guys, too!", old joke), but last night was a PLUNGE!

Not sure, Bumper what you mean by a defensive position in stocks, unless you are heavily short, but I admit to being a bit unsophisticated in finance.

KD - thanks for the advice about selling regionally vs the world. For now, the 96.5% Thai stuff will probably be OK then.

Good stuff here.

Ok what I did was check all the markets and found that the drops in Asia were between 2 & 5% Anything I had that had less then a 5% profit I sold and went to cash on those stocks. Now I will monitor things and try to buy back at a lesser price. Keeping my profits in the process.

I had stocks that were well above 5% I won't sale those. Myself and the rest of the world were amazed that Gold dropped in these circumstances. It current appears to be recovering now.

I watched CNBC till 0100 last night, so there were no surprises this morning.

A defensive position means I have went to some cash.

We should have a new P.M. today so that should work in our favor here.

This time fight was very close to Panic.

The trigger came from the E.U. As soon as John Paul ( I won't attempt his last name ) opened his mouth yesterday the markets dropped at the same time including Thailand.

I'm hoping things settle down tomorrow, From the chart I saw on that site looks like reality is coming back in Gold.

Believe me I understand buy and hold, but the idea is to make profits. Sometimes that can means sale and buy to improve your profits. The advantage in Thailand is you not buying shares you can but the actual Gold with a buy and sale commission of 100 Baht. You can buy and sale from the same guy. Neat little package really.

Someone was talking about 99% content. Someone correct me if I'm wrong. It's against the Law to sale gold in ingot forms in the states. I would stick to Thailand it's an established system that has worked very well in the past.

Thanks for that Bumper.

And I'm impressed by your moves. By comparison, I'm simple...I just bought gold ETFs to hedge my dollars, and to ride the rising gold tide. I have no stock positions. Recently, physical gold has got my attention, because I *may* need something a bit more portable and exchange-rate proof than GLD->USD->THB->?...

Really fun for me to learn from you guys. Hope to get more involved as I learn more...

Dahm knows a lot more about Gold then I do so he is the one I would listen to. I'm only putting up caution signs follow his lead and my guess is you will do OK.

He has already given much valuable advice, but I appreciate your insights, too...

Thx again.

Not all that sure I am deserving of such accolades, but hey, it's a community we have here and I am willing to contribute if I can. Thanks.

There are rumors today that the futures exchange regulators are going to increase the margin requirements for gold. Nobody knows when, but it will happen. When it does, gold will pull back a bit. If I had to guess, I'd think it would be "coincidentally" announced as gold approaches $1,764.

In any event, I would not be surprised to see a 5% or so pullback from yesterday's high. It's been a rather long run and I'd expect the bulls to be ready to rest a bit before the more challenging fight to $1,764. That said, anyone holding is still in very good shape long-term. To wit:


ASIA BUSINESS AUGUST 3, 2011
Central Banks Join Rush to Gold
http://online.wsj.com/article/SB1000142 ... nvesting_2

It is important to keep in mind and understand that one does not truly profit from buying gold. Sure, you may buy at $1,000 and sell at $1,600, but if you window shop around, your $1,600 still buys approximately what it did when it was $1,000 (and depending upon how what you are shopping for was impacted by inflationary pressures in the interim, including currency debasement).

That said, there is a plot of nearby land I've been wanting for a bit. The owner wants more than I'm willing to pay. So, I took what I was willing to pay and bought gold with it. Presently, that gold is now worth almost what he wants for the land. I will win. He will win.

the thai goverment brought another 30ton of gold yesterday, re quote from Bangkok post.

Yep bet it was sweating blood last night. Both Gold and the SET recovered today. Gold more so.

Postby KHONDAHM » July 15, 2011, 4:37 am
"I was weighted GDX and other paper over physical through 2008. Never again. Redemptions tanked all my paper holdings and I bailed (erroneously). The chart says it all. Make mine physical, tyvm. "

From CNBC interview with Marc Faber Aug 5th 2011
http://www.cnbc.com/id/44031717
"Gold miners are hit very hard and the gold price went up. People don't trust paper anymore. That is one of the problems," he said.

Seems you are in good company KD.
The theme of the interview is that the global financial system will crash completely, and there is a likelihood of war.

Mark Faber is one of the guys I follow. Lives in Thailand, BTW. Near Chiang Mai. The energy aura surrounding his brain could power a locomotive - easily.