Gold Gold Daily Video, March 24, 2020

Joh

Sergeant Major
Messages
976
Huge is the word. Story is (unverified) gold mines have closed due to the virus?

We will shortly be placing Gold Bullion Spot CFDs (XAUUSD, XAUAUD, XAUCHF, XAUGBP, XAUEUR) on Close Only. This means existing positions can only be held, reduced or closed.
Is that a sign of a crash?
 
Last edited:

Sive Morten

Special Consultant to the FPA
Messages
13,162
Huge is the word. Story is (unverified) gold mines have closed due to the virus?

We will shortly be placing Gold Bullion Spot CFDs (XAUUSD, XAUAUD, XAUCHF, XAUGBP, XAUEUR) on Close Only. This means existing positions can only be held, reduced or closed.
Is that a sign of a crash?
What the source of the story?
 

Joh

Sergeant Major
Messages
976
What the source of the story?
Have 3 brokers all gave similar updates.
AUD. Gov. Medical directive is that all workers to have a distance between them 1 and a half meter to 2 meters to avoid the virus. It is possible that the refineries workers are in that position. Pls note there is huge closures here of Bars/coffee shops/restaurants /sporting venues/gyms. etc etc.even beaches are closed. 1. 7 mllion workers have started to enter the unemployment lines. Scary!. All borders closed. Workers to work from home whenever possible. Except for Essential positions, All non workers to stay at home, no exceptions. Anyone sick to self isolate but there is support for them.If you get married you may only have 5 people.etc.
How will this affect gold?
 
Last edited:

minimax

1st Lieutenant
Messages
1,448
Have 3 brokers all gave similar updates.
AUD. Gov. Medical directive is that all workers to have a distance between them 1 and a half meter to 2 meters to avoid the virus. It is possible that the refineries workers are in that position. Pls note there is huge closures here of Bars/coffee shops/restaurants /sporting venues/gyms. etc etc.even beaches are closed. 1. 7 mllion workers have started to enter the unemployment lines. Scary!. All borders closed. Workers to work from home whenever possible. Except for Essential positions, All non workers to stay at home, no exceptions. Anyone sick to self isolate but there is support for them.If you get married you may only have 5 people.etc.
How will this affect gold?
Big demand - No goods - Price of phisycal metals should skyrocket, BUT we trade paper metals... who knows where we are going.. In time of no deliveries everything is possible..
Just check ebay for coins... Prices are from 30 up to 50+% higher than should be for such ˝market˝ prices of silver and gold
 
  • Like
Reactions: Joh

Joh

Sergeant Major
Messages
976
Do not intend to buy Gold just get an idea where price is heading -i am a small fry just trying to get out of my trades. Thk you M
 

minimax

1st Lieutenant
Messages
1,448
Do not intend to buy Gold just get an idea where price is heading -i am a small fry just trying to get out of my trades. Thk you M
Buy silver.. 725 US$ (+ margin) investment covers drop for 50 ounces down to 0,00 what supposed NOT to happen.. When the time comes (?) silver will hit 50 - 80 - 130 US$ per oz before bigger move down..
 
Top