what just happened to gold/gems?
To explain: the price of gems in gold rose about 25% over the course of two hours, and then about an hour later it crashed 30% in about half an hour. Now it’s back to the level it was before. It seems like one or a bunch of people bought a TON of gems, and then one or a bunch of people sold even more gems for gold. Any ideas as to what happened?
X people lost a lot of money, and Y people gained a lot of money. That’s what happened.
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I’m curious about this too. It doesn’t seem to be over though—there’s been another mini spike and crash since then. While fluctuations are normal these random seeming jumps are a bit strange. When the spikes occur after new things are released, they make some sense, but I don’t think that’s the case here.
https://forum-en.gw2archive.eu/forum/info/news/Billing-Maintenance-28th-Nov-5-00AM-PDT-13-00-GMT/
maybe have to do with this…. since people can’t buy gems from cash. lol
just I didn’t expect the big spike.
The announcement linked specifically says currency exchanges are unaffected. Also, I would think something like that would freeze prices, not jump them all over.
calankh: I assumed that is a sort of “halo” bounce, where people are quickly taking advantage of the volatile market. Gem prices dip like mad = people buy gems. This makes prices go up, and then others take advantage of that. Still curious to me.
Something similar happened after the initial rate surge when the halloween items were released. Some of it may be people speculating in gems, but it’s also just as likely that a bunch of players decided to convert gems bought with real money at the favourable rate of 1.5 -1.6 gold per 100 gems.
Certainly possible, but I don’t think the Halloween event spiked quite as fast or dropped quite as hard. Plus, it wasn’t until we knew more about the event. But you’re right, it’s possible this is the same thing but just happening faster (due to more communication) and harder (due to more people having some gold to throw around).