Closed market on the weekend?

Discussion in 'Silver' started by Dirtbikepilot, Nov 19, 2011.

  1. Dirtbikepilot

    Dirtbikepilot Active Member

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    Why does the market shut down on the weekend? I still want to buy/sell and so do many others. This is a multinational market with businesses
    continuing to operate 7 days a week, yet the metals market still shuts down, why?

    You would think in this day and age that the market would be open 24/7
     
    Dirtbikepilot, Nov 19, 2011
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  2. Dabloodymess

    Dabloodymess Active Member

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    Its not just metals trading that stops over the weekend... I dont know the exact justification for why markets need to close. All I know is that it lets every one have a breather, I see nothing wrong with that.
     
    Dabloodymess, Nov 19, 2011
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  3. thatguy

    thatguy Active Member

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    what I don't get is why some bullion dealers do not trade on the weekend? Surely with markets closed and spot steady this is the perfect time to trade?
     
    thatguy, Nov 19, 2011
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  4. errol43

    errol43 New Member Silver Stacker

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    Ah! The traders have to have some time to plan their attack for next week and how much they made from last week. :)

    Regards Errol 43
     
    errol43, Nov 19, 2011
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  5. fishball

    fishball New Member Silver Stacker

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    They can't lock in stock until market opens, by then spot could've fluctuated and they'd lose money.

    That's why when it gets volatile they close trading or increase premiums to offset the risk they have to take.
     
    fishball, Nov 19, 2011
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  6. thatguy

    thatguy Active Member

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    won't it open on monday @ 32.31 USD?
     
    thatguy, Nov 19, 2011
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  7. fishball

    fishball New Member Silver Stacker

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    Not necessarily, you see it with stocks sometimes they close on Friday and then reopen it gets crushed. Similar dynamic but different scale for Gold/Silver spot.

    Regardless, if the dealer sells Perth Mint stuff they can't secure stock until hours have passed on Monday after market opens, who knows what it could be by then.

    ps. I'm not a dealer so may be incorrect but that's my understanding.
     
    fishball, Nov 20, 2011
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