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Manadon
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Post by Manadon » October 23, 2011, 12:07 am

Mastodon? HeHeHe He! You guys are so funny. I appreciate all your dialog. I get the "hint: you are comfortable in your "sceme of things". I can respect that. I am sorry if I made anyone feel lost. I did not mean this.
You have your way and you are used to that way. I completely understand. I am sorry....continue on your way, I will not. EVER, try to intervene in your private "topics". I do not take offense from anything anyone said. I forgive you all.



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jackspratt
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Post by jackspratt » October 27, 2011, 1:53 pm

I am sure this will have all the UM Aurumistas wetting their (metaphoric) pants. :D
The Perth Mint has unveiled the world's largest and most valuable gold coin.

Weighing in at just over one tonne, the 99.99 per cent pure gold coin has been valued at more than $60 million..............

http://www.abc.net.au/news/2011-10-27/o ... in/3604466
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semperfiguy
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Post by semperfiguy » December 1, 2011, 11:01 am

I just don't understand the logic behind the rise and fall in Thai Baht Gold prices. Yesterday's local close at it's last update was 25300 Baht per Baht Gold Bar and the global market spot gold price was $1711 per troy ounce at the time. I follow this daily and generally if there is an $8 shift in the spot gold price, then the local prices will be adjusted up or down by 100 baht (on the average). This morning the spot gold price was 1746 at the time of the first posting of the local Thai prices, so that's a $35 increase which should equate to an increase locally of 400-450 Baht. But instead the local price only went up by 200 baht, then a short time later the price was increased another 50 baht based on a $1 jump in the spot gold price. Seems to me we got shorted by 200 baht locally on a One Baht Gold Bar. I also understand that the US Dollar was devalued during the same period, but the loss wasn't great enough to justify the lower local price. Can anyone explain? I know it is what it is, and the local rates are established by some sort of calculated measurement, but it still makes no sense nonetheless.
Colossians 2:8-10...See to it that no one takes you captive through philosophy and empty deception, which are based on human tradition and the spiritual forces of the world rather than on Christ. For in HIM dwells all the fullness of the GODHEAD bodily; and you are complete in HIM, who is the head of all principality and power.

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Post by Jai » December 1, 2011, 11:57 am

Unlike there jewelry which has a much higher gold content than the west---doesn't the Thai bullion gold have a lower gold % than the west. semperfiguy----96.5%, v 999%-----but I guess you have already factored that in if you follow / invest in it.

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Manadon
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Post by Manadon » December 1, 2011, 1:17 pm

Don't forget to factor in the exchange rate from the Thai Baht (money), This is why you see fluctuations without little change. Gold is up/money is down. Money is up/gold is down, ect. This will make you crazy..so much manipulation, not just here, in the whole world. You can thank JP Morgan, Goldman Sachs and the FED for this.

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KHONDAHM
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Post by KHONDAHM » December 3, 2011, 12:25 am

Give up trying to figure it out. I gave up long ago. As long as it is consistent, the 'how' matters little.
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Post by rjj04 » December 10, 2011, 7:21 am

It seems, as usual, the numbers keep getting worse. The new total for all the bailout activity.... drumbeat please...

~$30,000,000,000,000

(about $100,000 per American citizen....man/woman/child)

http://www.readersupportednews.org/opin ... on-dollars

The financial system is a joke... GOLD!!

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Laan Yaa Mo
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Post by Laan Yaa Mo » December 15, 2011, 1:22 am

Whither gold? Is it really in a downward spiral to $1400/ounce as suggested by some, or on the rise to $1900 as predicted by Khon Dahm and others?

Gold breaks key barrier
SIMON AVERY
Globe and Mail Update
Posted on Wednesday, December 14, 2011 1:02PM EST

The price of gold (GC-FT1,588.40-74.70-4.49%) is down 5 per cent on Wednesday as investors shun risk and the U.S. dollar climbs. After dropping almost $100 an ounce, bullion prices have stabilized a bit, recently trading down $74.10 an ounce at $1,589.

The selloff has pushed the price of the precious metal below its 200-day moving average (about $1,614) for the first time since January 2009. That has created an intense battle between the bulls and bears, with technical analysts putting the bears’ psychological target at $1,600 and the bulls’ at $1,700.

“Fresh, serious near-term technical damage has been inflicted in gold this week,” writes Kitco News contributor Jim Wyckoff.

Bloomberg is running a story quoting technical analysis from Stifel Nicolaus & Co. that says gold could quickly descend to $1,400 an ounce now that it has broken through the 200-day moving average.

Bullion’s fall comes on the heals of more bad economic news out of Europe. Industrial production in the Euro zone rose 1.3 per cent in October from a year earlier, significantly short of the 2.1 per cent that had been widely expected.

At the same time, Italy saw the price it had to pay for five-year bonds soar to a new high for the euro-zone, at 6.47 per cent. That put pressure on the euro currency, which broke below the important threshold of $1.30.


http://www.theglobeandmail.com/globe-in ... le2270957/

and this,

Dennis Gartman out of gold, proclaims ‘death of a bull’
MICHAEL BABAD | Columnist profile | E-mail
Globe and Mail Update
Published Tuesday, Dec. 13, 2011 10:49AM EST
Last updated Tuesday, Dec. 13, 2011 12:03PM EST


Gartman out of gold
Dennis Gartman is out of gold, seeing "the beginnings of a real bear market, and the death of a bull."

Gold (GC-FT)
1,587.90 -75.20 -4.52%
As of Dec 14, 2011 1:02
Range:1 Day 5 Day 1 Year View Larger Chart Add to Watchlist

V
Video: Betting on a collapse
In his Gartman Letter published today, Mr. Gartman warns that the incredible run-up in gold (GC-FT1,587.90-75.20-4.52%) over more than a decade appears to be at an end. He noted that China has been buying gold aggressively over the past several weeks, which should have sent the price surging.

"Instead they plunged," the publisher of the letter wrote today. "One of the oldest rules of trading is simply this: A market that cannot or does not respond to bullish news is a bearish market not a bullish one."

Mr. Gartman, who, as Bloomberg News noted, correctly called the 2008 commodities slump, said that "we are out of gold" as of yesterday.

"Where then can gold go?," he said in his note as prices were little changed today after yesterday's tumble.

"Lower, we fear and perhaps decidedly so. So much damage has been done to the psychology of the market in the past week and so many late longs have been caught off guard that we think wholesale liquidation … and perhaps forced liquidation … shall be the outcome. We can imagine gold trading back toward €1075-1125/oz and/or toward US$1475-1525. It really won’t take much to push it there. Panic liquidation would do so rather swiftly. We’ll simply stand aside from the gold market then, preferring to be long of gold and not wishing really to be short of it. The sidelines seem the cozier of the two."

Not everyone feels that way, of course.

“People will come back to gold since eventually it will be clear that there has been no improvement in the European situation,” Lance Roberts, the chief executive officer of Streettalk Advisors of Houston, told Bloomberg.


http://www.theglobeandmail.com/report-o ... le2269368/
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KHONDAHM
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Post by KHONDAHM » December 15, 2011, 9:12 am

One could stick in a date restriction and search for the same blah, blah, blah at any (until then) "peak". There were some doozies when gold "peaked" at $1,000. That's all history, now.

The gold liquidations could just as likely be institutions getting into cash expecting a flood of redemptions. In any event, gold will continue its climb for as long as more fiat money is put into the money supply. (*yawn*)
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Laan Yaa Mo
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Post by Laan Yaa Mo » December 15, 2011, 7:35 pm

Thanks, KhonDahm. I think I put my trust in you more than these other guys.
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Post by TJ » December 19, 2011, 2:14 am

If you have gold or are thinking about investing in gold you may be interested in knowing how to avoid losing this investment. There are good reasons to be sure that it physically remains in your hands. Many people who trusted various agencies or institutions to store their gold lost all or part of that investment. The following discusses the difficulties in assuring the safe storage of gold.

http://www.marketoracle.co.uk/Article32198.html

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Post by KHONDAHM » January 14, 2012, 7:31 am

Pardoning the pitch in the end to buy something, this is a great explanation as to why owning gold through shares is a bad idea:

http://www.resourceinvestor.com/News/20 ... tocks.aspx
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Post by KHONDAHM » January 21, 2012, 1:18 am

'The Chinese really love gold' - Banks pushing citizens to buy

http://www.mineweb.com/mineweb/view/min ... pid=102055

"China, expected to overtake India as the world's top gold consumer in the next few years, accounted for 23 percent of the world's total consumer physical gold demand in the first three quarters of 2011, up from 19 percent in 2010, according to the World Gold Council (WGC)."

"Investors buy as little as a gram a month through the accounts, a tiny quantity but one that adds up when the middle class of the world's most populous country is involved..."

"...ICBC's accounts drew 2.33 million investors by the end of November, according to the bank, just 19 months after the launch, with 22 tonnes of gold held to back them.

Agricultural Bank of China said that for a similar product launched in September, more than 70,000 clients signed up to buy a minimum of one gram of gold per month."

"CHINA GOLD DEMAND TO RETAIN HIGH GROWTH

In the first three quarters of 2011, China's jewellery demand shot up 34 percent on the year to 376.8 tonnes, while demand for coins and bars surged 89 percent to 204.1 tonnes, according to the WGC.

Albert Cheng, Managing Director of the WGC, Far East, estimated total jewellery consumption would grow to 500 tonnes and physical investment demand exceed 250 tonnes in 2011, which would bring total demand up at least 18 percent from a year earlier.

"In 2012, both investment and jewellery demand will retain growth, albeit at a lower pace," Cheng told Reuters in an interview.

He estimated that investment demand would grow 25-30 percent, and jewellery demand 6-10 percent, in 2012.

Volume on gold derivative trades could be 15 to 20 times physical investment demand, Cheng said.

As a sign of surging demand for bullion, China's gold imports from Hong Kong in the first 11 months of 2011 more than tripled on the year."
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Post by KHONDAHM » January 27, 2012, 1:36 am

Uncle Ben and the Crew let their projected inflation thoughts be known publicly for the first time (kudos to Obama and certain members of Congress for finally pushing the Fed toward more transparency!). The result was the market surging on the back of this news that the gold rally is certainly going to last well beyond the election. The Fed also let it be known it will be doing more QE (buying more bonds) for the foreseeable future. That's no surprise, but they actually finally admitted as much.
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Post by KHONDAHM » January 27, 2012, 4:41 pm

A treasure trove of things that will make you go "Hmmmm..." in this recent Bloomberg article:

Gold Proves Safest as Goldman Forecasts Record: Riskless Return
http://www.bloomberg.com/news/2012-01-2 ... eturn.html
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Post by semperfiguy » January 28, 2012, 9:35 am

Generally speaking, for every 8-10 US$ gain/loss in the global price of one troy ounce of gold, the local price for a 1 Baht gold bar will fluctuate by plus/minus 100 baht. Overnight there was a $17 gain and I expected at least a 200 baht gain at first posting. It only went up 50 baht! At one point last week I noticed they dropped it 50 baht on a 50 cent drop in the global prices. I just don't understand it!!!!!!!!!!!!!!!!!!!!!!!!!!!! Ordinarily this sort of thing wouldn't bother me, but I can't help but think that somebody...somewhere up the ladder in Thailand is pocketing the spread. And I've also noticed that this sort of disparity most often happens when there's a big gain on Friday evenings and at first price posting on Saturday morning in Thailand it seems we get shorted. Nothing we an do about it...I just needed to rant and rave!
Colossians 2:8-10...See to it that no one takes you captive through philosophy and empty deception, which are based on human tradition and the spiritual forces of the world rather than on Christ. For in HIM dwells all the fullness of the GODHEAD bodily; and you are complete in HIM, who is the head of all principality and power.

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Post by KHONDAHM » February 20, 2012, 10:49 pm



Just a comment: If gold shops and the availability of gold in the USA were anything like it is in Thailand, IMO, demand by Americans as an alternative to financial institutions would have sent the gold price up double today's price or more by now. For those unaware, buying 96.5% or 99.99% gold ingots on demand in the USA is like mission impossible. It cannot be ordered without paying hefty premiums of 15-20% or more plus delivery costs. :roll:
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KHONDAHM
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Post by KHONDAHM » March 1, 2012, 12:55 am

Jewelry sales jump 42% in China
http://www.chinadaily.com.cn/usa/busine ... 714111.htm


Comex Gold Falls On Bernanke Remarks; Profit-Taking Cited Ahead Of $1,800 Region
http://www.kitco.com/reports/KitcoNews2 ... pdate.html

"Postby KHONDAHM » August 3, 2011, 6:50 am
Gold remains on a rampage as bulls are reassured following Korea adding 25 tonnes and Germany adding 1,000 tonnes. Yet another new high in all major currencies. The magic number is $1,764. It goes parabolic after that."

"Postby KHONDAHM » August 11, 2011, 5:47 am
Having blown through the technical $1,764 barrier, it appears gold may indeed be going parabolic as I posted previously. $1,849 and $1,936 are the next technical barriers.

Comment: Here we go again. It is rather peculiar that Bernanke gets the urge to tamp down gold when we pass the 1,764 technical barrier...My timing still sucks, but I reckon the market will shrug it off this time. April-May 2012...the reckoning cometh...
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Post by rjj04 » March 1, 2012, 2:22 am

I had expected commercial real estate to implode along with residential real estate. That didn't happen. This article explains why it didn't implode, but that the problems were just delayed and that the fireworks ought to start going off rather soon.

http://www.zerohedge.com/news/guest-pos ... coming-end

One more thing, the magnitude of the problem in US commercial real estate makes the residential market problem pale in comparison.

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Post by JimboPSM » March 1, 2012, 2:41 am

While it is always important to consider the danger of bubbles with commodities, changing circumstances should also be taken into account.

A new factor in the gold price melting pot is that Iran has now indicated that it will accept gold as payment for its oil (somewhat harder to track than conventional banking transactions).

It may just be coincidence, but two of the biggest customers for Iranian oil also two of the biggest holders of gold (privately and nationally) :-k

BBC News: http://www.bbc.co.uk/news/business-17203132
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