Local gold prices continue the downward trend.

 

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18,550 = 1 Baht

Bought mine 3 months ago 24,000

Now's the time to buy shitloads more. It'll go back up, it always does.

Gold rose 700 % globally between 2001 - 2011.  Only a serious reduction in production would cause a major rise, and many gold investors are selling off their gold assets to take advantage of the current inflated value bringing more onto the market.  Investing now in the expectation of making a short term profit due to the recent drop in price does not seem to be realistic to me, I think the bubble has burst though LONG term it may be wise as gold is used in many industrial/electronic applications and you probably own more gold than you realize in the circuitry of your mobile phone, computer, etc and until we develop a method of extracting it from the ocean (yes there ARE gold molecules in sea water) production costs and depleted reserves will probably cause a stabilization and eventual rise..

 

Consider the effect of the U.S. deciding to sell off even 10% of what it holds in Fort Knox in bullion (4,578 metric tonnes or approximately 3% of all the gold ever mined in history) and the Federal Reserve Bank of New York's underground vault (7,000 metric tonnes though some is in trust for other nations) to prop up it's own economy.  And that is hardly a far-fetched notion.  Recognizing the possible advantage due to current valuation the idea has already been seriously proposed.

 

Given the current value of the USD vs the THB I would personally be thrilled!

Edited April 22, 201313 yr by Cicatrix