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24 minutes ago, psycho said:

I'm sitting on a massive loss in my long gold position.  Can this cliff edge really be attributable to just margin calls?

How massive?

If it's manageable then ride it out.  You don't day trade gold, you keep hold of it for a while.

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@Caseynotes I agree it should find support here and was thinking of adding but I don't think I'll use my short term trading account if I add

@dmedinIt is manageable and in my trading rather than investing account.  

However, what worries me is can such a large selloff be due to margin calls alone or is there a change in the fundamentals?

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2 hours ago, psycho said:

@Caseynotes I agree it should find support here and was thinking of adding but I don't think I'll use my short term trading account if I add

@dmedinIt is manageable and in my trading rather than investing account.  

However, what worries me is can such a large selloff be due to margin calls alone or is there a change in the fundamentals?

Quite possibly.  At times like these it becomes  clear to all that gold is a 'barbarous relic' and means f-all in terms of corresponding to the real needs of human beings.

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Gold sell-off fails to dent investor enthusiasm - https://www.ft.com/content/84f50eea-1eaa-4e88-9040-16f1944978f7 

Investor sentiment on IG showed a bearish signal. With so many people long and thinking the same way, do all the longs have to be pummeled before the Phoenix rises from the ashes?!

If you never had a long position and saw the gold chart, would you rate it a buy?

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22 minutes ago, psycho said:

Gold sell-off fails to dent investor enthusiasm - https://www.ft.com/content/84f50eea-1eaa-4e88-9040-16f1944978f7

Investor sentiment on IG showed a bearish signal. With so many people long and thinking the same way, do all the longs have to be pummeled before the Phoenix rises from the ashes?!

If you never had a long position and saw the gold chart, would you rate it a buy?

 

Who cares?

Prices go up and down randomly and people (hence markets) are totally irrational.

Have a punt, if you like.  Just don't go looking for a rational explanation - it's all speculation. :)

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15 minutes ago, dmedin said:

 

Who cares?

Prices go up and down randomly and people (hence markets) are totally irrational.

Have a punt, if you like.  Just don't go looking for a rational explanation - it's all speculation. :)

😂 Perhaps I can swap a bottle of hand sanitiser and antibacterial soap for a gold bar?!

 

So you reckon it's all gambling then?

Edited by psycho
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Gold was having liquidity issues. As soon as the underlying is liquid again it will be reopened. If it's open whist illiquid the price will be gaping up and down. People may get closed out on stops that are very far our which is something we don't see as best execution. 

All the best. 
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