$3000 gold? Some are putting big money on that bet;

[fb101]

Good article ;
http://numismaster.com/ta/numis/Article ... =238143886


"The surprise development last week occurred in the COMEX gold options market. Last Wednesday, the December 2015 gold options contract with a contract price of $3,000 per ounce was the most actively traded contract of any month and of any contract price level. About 7,250 call option contracts were purchased, signifying potential physical demand for 725,000 ounces."

[blackrabbit]

Very interesting.

[Rodebaugh]

I'm calling hog wash.

$3.20 close on these options...... Max of $23,200 spent to buy these options. Truth be told probably less than $15K as I am sure they were priced much lower before the purchase glut drove them up.

This is nothing more than a scratch off ticket for the wealthy at best.

BTW, I hope that I am wrong on this one. But, i'm not.

[blackrabbit]

Thanks Doc!

[fb101]

May be, but I won't forget how someone bought many dec gold 1950 options a couple of years ago at a time when gold was trading around $1450 -
They went a lot cheaper than 3.20 too.
Wish I'd jumped on that bandwagon.
Well, I'm not telling anyone to jump in, but I'm not going to hope it goes back to $800 either.

[InfleXion]

$3000 gold and $50 silver will likely never happen. If prices start getting up that high it will mean that confidence in fiat is lost, in which case we will be well on our way to measuring prices in metal again instead of dollars. That's not to say that the buying power won't someday be the equivalent of $10000 gold and $1000 silver in today's dollars, whatever fair value is, which we haven't seen in at least a century, but for metals to reach fair value will require that the paper experiment is ended.