Investezo › Big weekend gaps › 6 Oct 2023
Gold weekend gap after Friday 6 Oct 2023: +0.86%
Gold's last hourly close on Friday 6 Oct 2023 was US$1,831.84. After 50 hours with no bars it reopened at US$1,847.52, 0.856% higher. That makes it the 13th largest of the 499 weekend gaps from 2015 to 2024 in this data, and it was not filled that week.
The gap in numbers
| Friday's last hourly bar | Fri 6 Oct 2023 23:00 |
| Friday's last hourly close | US$1,831.84 |
| First hourly bar after the weekend | Mon 9 Oct 2023 01:00 |
| Reopen price (first hourly open) | US$1,847.52 |
| Gap | +0.856% · US$15.68 |
| Hours with no bars | 50 |
| Rank among 499 weekend gaps 2015–2024 (by size) | 13th |
| Rank among the 49 gaps of 2023 | 2nd |
| Gold in the week before (Friday close vs Friday a week earlier) | -0.91% |
Did the gap fill?
No. In the 115 hourly bars of that trading week price never came back to Friday's close of US$1,831.84. The furthest point in the gap's direction was US$1,932.41 (+5.49% from Friday's close), and the week's last hourly close, Fri 13 Oct 2023 23:00, was US$1,932.41 (+5.49% from Friday's close).
The first trading day after the gap
Daily bar for 9 Oct 2023: open US$1,847.52, high US$1,863.49, low US$1,844.23, close US$1,861.35. Close to close against Friday's daily close of US$1,831.84 that is +1.61%, with US$19.26 between high and low.
Hourly bars around the gap
| Bar (data time) | Open | High | Low | Close |
|---|---|---|---|---|
| Fri 6 Oct 2023 18:00 (before) | US$1,823.58 | US$1,834.90 | US$1,823.57 | US$1,832.63 |
| Fri 6 Oct 2023 19:00 (before) | US$1,832.63 | US$1,833.45 | US$1,829.00 | US$1,829.21 |
| Fri 6 Oct 2023 20:00 (before) | US$1,829.22 | US$1,832.25 | US$1,828.81 | US$1,831.85 |
| Fri 6 Oct 2023 21:00 (before) | US$1,831.89 | US$1,833.98 | US$1,831.51 | US$1,831.89 |
| Fri 6 Oct 2023 22:00 (before) | US$1,831.89 | US$1,831.98 | US$1,829.05 | US$1,829.45 |
| Fri 6 Oct 2023 23:00 (before) | US$1,829.46 | US$1,832.24 | US$1,828.92 | US$1,831.84 |
| Mon 9 Oct 2023 01:00 | US$1,847.52 | US$1,855.60 | US$1,845.44 | US$1,849.73 |
| Mon 9 Oct 2023 02:00 | US$1,849.73 | US$1,849.84 | US$1,846.45 | US$1,847.95 |
| Mon 9 Oct 2023 03:00 | US$1,847.96 | US$1,852.48 | US$1,846.26 | US$1,852.38 |
| Mon 9 Oct 2023 04:00 | US$1,852.38 | US$1,852.79 | US$1,847.33 | US$1,849.03 |
| Mon 9 Oct 2023 05:00 | US$1,849.01 | US$1,852.80 | US$1,848.83 | US$1,850.46 |
| Mon 9 Oct 2023 06:00 | US$1,850.49 | US$1,851.55 | US$1,848.70 | US$1,851.11 |
| Mon 9 Oct 2023 07:00 | US$1,851.11 | US$1,853.29 | US$1,850.09 | US$1,850.50 |
| Mon 9 Oct 2023 08:00 | US$1,850.54 | US$1,852.33 | US$1,848.08 | US$1,851.83 |
| Mon 9 Oct 2023 09:00 | US$1,851.84 | US$1,854.48 | US$1,849.94 | US$1,850.06 |
| Mon 9 Oct 2023 10:00 | US$1,850.06 | US$1,852.61 | US$1,848.07 | US$1,850.48 |
| Mon 9 Oct 2023 11:00 | US$1,850.45 | US$1,850.96 | US$1,848.94 | US$1,850.46 |
| Mon 9 Oct 2023 12:00 | US$1,850.47 | US$1,852.34 | US$1,849.98 | US$1,851.21 |
Context
2023 had 49 weekend gaps in this data; this was the 2nd largest. More numbers for that time: gold in October 2023 and gold in 2023.
What a gap like this means for an open trade
No price traded between US$1,831.84 and US$1,847.52, so a stop or pending order set inside that band was filled at the reopen price instead. The jump was US$15.68 per ounce; at 100 ounces, a common size for one gold lot, that is US$1,568.00, before any further move. A grid or martingale EA that holds trades over the weekend takes the full gap at once. You can enter US$15.68 in the grid calculator to see what it does to your own lot and spacing.
Questions
How big was gold's weekend gap after 6 Oct 2023?
+0.856% (US$15.68): Friday's last hourly close was US$1,831.84 and the first hourly open after the weekend was US$1,847.52.
Did the gap after 6 Oct 2023 fill?
No, not within that trading week; the week's last hourly close was US$1,932.41.
How rare was this gap?
It was the 13th largest of 499 weekend gaps from 2015 to 2024 and the 2nd largest of 49 in 2023.