Why Gold spread is so high?
Hello Gold traders..did you notice the spread on gold? I am seeing the spread is widen as much as 3800 points on my broker for XAUUSD. Whats going on?
Your not wrong. I couldn't trade at all today because of the spreads. Hope it gets sorted out tomorrow.....
Hope so..would be nice to know what exactly causes this much high spreads.
change your broker
My broker usually provides the lowest spread..its happening with all brokers.
A broker is a match between buyer and seller. They are related to market (Big boys = big Banks). They are offering very expensive in as bid and ask price to a broker currently. Suggest me, do not transaction the gold right now. Dangerous for trade now. My broker is offering high spread too for bid and ask in price.
Right I am not trading..it seems very fishy the gold market. I do have a spread check on my EA.
Okey got some kind of answer from my broker. Its the virus..
The email I got is like this
Markets
are currently going through difficult times due to the coronavirus pandemic and the global response to it.
Across
trading platforms and asset classes, the effects may be:
–
spreads growing to a multiple of what we're all used to (like
at this very moment),
–
volatility may exceed familiar levels,
–
market trends may be even harder to predict than usual.
If
you're currently trading, please exercise extreme caution and make sure to keep track of your available margin and account balance to avoid
margin calls.
Hello Gold traders..did you notice the spread on gold? I am seeing the spread is widen as much as 3800 points on my broker for XAUUSD. Whats going on?
Spreads are larger in general, these last few weeks, due to the coronanirus market turmoil.
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