Huge bets that gold could triple to $4000 trade in New York

BNN Bloomberg/Yvonne Yue Li

“The gold options market 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.”

USAGOLD note:  Under what extraordinary circumstances would gold go to $4000 by June of 2021?  Difficult to imagine what it would take in the way of market and economic turbulence . . . . . .

Repost from 11-29-2019

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