How do you lose money when you sell gold and the market is going insane? Did they hold orders and get caught buying more expensive metal to fill them?
I think gold is falling
I have heard that they sold gold at a very high markup.
“Did they hold orders and get caught buying more expensive metal to fill them?”
essentially, yes .... that wasn’t their intent, but they failed to hedge in the futures market, and that’s exactly what ended up happening to them ...