Huge Bets That Gold Could Triple to $4,000 Trade in New York
By GCRU Gold News on Wednesday, November 27 2019, 23:59 - Permalink
The gold options market today saw $1.75 million in block trades betting the precious metal could almost triple in more than a year, surpassing the record.
Around noon in New York, 5,000 lots for a gold option giving the holder the right to buy the precious metal at $4,000 an ounce in June 2021 changed hands. The bets were sold at $3.50 an ounce.
"It's like 18-month term life insurance. What will the world look like if gold is at $4,000?"