Dont understand $16 gold change over weekend.

Discussion in 'Gold' started by nasa, Jul 24, 2011.

  1. nasa

    nasa New Member

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    When the market closed down gold was about wee bit over $1600
    I am at comp when market opens this morning and gold is $1616
    How can it change so while the market is shut..?????????
     
    nasa, Jul 24, 2011
    #1
  2. fishball

    fishball New Member Silver Stacker

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    US debt talks are still ongoing. Melbourne markets are open so reflected it.
     
    fishball, Jul 24, 2011
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  3. nasa

    nasa New Member

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    Dont get it.?
    Market cant change because people are talking.
    I was there when Sydney market opened and it opened at $1616.
    It was like someone was trading while the market was shut.
    ????????????????
     
    nasa, Jul 25, 2011
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  4. euphoria

    euphoria New Member

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    Its called a gap. Happens in every market when the trading is closed for a time. Same as shares, Forex or lemon sodas.
     
    euphoria, Jul 25, 2011
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  5. kram

    kram New Member

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    You can place orders in the pre-open phase, which get placed upon open. So basically a bunch of orders where made before open, then bam!

    There's more of a read here for the ASX
     
    kram, Jul 25, 2011
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  6. nasa

    nasa New Member

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    Thank you .
    That answers that.
    A bit like placing auto betting on Ebay.
    all orders are stacked up waiting for the close and then in the last second Blam*
    everything is all sorted out like an automatic chess game executed in a Flash*
    I suspected that may be the case but wasn't to sure.
     
    nasa, Jul 25, 2011
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  7. JulieW

    JulieW Well-Known Member Silver Stacker

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    This, from the English pollies may have been an influence.

    http://www.guardian.co.uk/business/2011/jul/25/vince-cable-consumer-confidence

     
    JulieW, Jul 25, 2011
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