Gold and Silver: Understanding Liquidity and Spreads
When traders say “liquidity” and “spreads” with gold and silver, they are really talking about cost and friction. Not in the abstract, not as a line item buried in paperwork, but in the lived experience of getting in and out without ruining the trade. I have watched the same idea perform very differently depending on whether the market is deep or thin, and whether the spread tightens like a drum or widens like a mouth opening to swallow your limit order. Gold and silver