Quote:
Originally Posted by Fat Elvis
Margin calls. The rapid and ongoing descent of the market is resulting in a lot of huge margin calls that need to be met and people/institutions/hedge funds are just doing wholesale dumping of anything and everything they have whether it is equitities or commoditites.
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That's part of it. The gold market is tiny compared to other markets so any player making a big move will affect the price up/down, but then it usually springs back from an overbought or oversold position. That's why there have been $80 moves up and down in a matter of an hour or two in the past month.
Ring Ring
Hello?
Margin calling!
I'm ****ed!