Gold traders dump the yellow metal on Goldman Sachs fraud charges
In an illogical move, traders fled gold after the news that Goldman Sachs (NYSE:GS) was charged with fraud by securities regulators.
The idea that gold is considered a risk in volatile times doesn't make sense, but then traders behave in that manner, although gold investors don't.
Gold futures plunged on the news, dropping by over $24 an ounce as of this writing.
Most fears over gold are in the short term and not the long term, as uncertainty over what else may emerge in the banking industry has gold traders flustered for now.
Showing posts with label Gold Trading. Show all posts
Showing posts with label Gold Trading. Show all posts
Friday, April 16, 2010
Tuesday, March 30, 2010
Gold Trading Range Remains Tight
Gold Trading Range
With the markets closing Friday because of the Easter holiday, gold trading is expected to be low, which under normal conditions could mean tremendous volatility during the week.
This is because smaller trades can move the markets more when there is less volume.
Even so, with the ups and downs, in the end the gold trading range should remain and end the week tight, even if there are a few big moves throughout the week.
With the markets closing Friday because of the Easter holiday, gold trading is expected to be low, which under normal conditions could mean tremendous volatility during the week.
This is because smaller trades can move the markets more when there is less volume.
Even so, with the ups and downs, in the end the gold trading range should remain and end the week tight, even if there are a few big moves throughout the week.
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