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Gearing up with cheap money cuts both ways when one-way betting goes wrong...

We can only guess at quite how much money has so far been lost by bullish gold traders this week.

The net long position of speculative traders - the total number of their bullish contracts minus their bearish betting - had never been greater than in the week to last Tuesday, the latest data available. With Gold Prices only pushing higher 'til Monday, you can bet there was never so much money at stake, gambled on gold's 38% surge in five months only running one way.

Of course, gold buyers holding just physical gold - that most simple of assets - are also showing a loss from the new all-time record of $914 per ounce. But at least they don't face any margin calls. read more