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Huge Bets (options) That Gold Could Triple to $4,000 Trade in New York
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.
“It’s like 18-month term life insurance; what will the world look like if gold is at $4,000,” Tai Wong, the head of metals derivatives trading at BMO Capital Markets, said in an email. “They are hoping for a quick violent move,” he said, referring to the people who bought the call options.
Gold futures climbed to a record $1,923.70 an ounce in 2011 as the Federal Reserve bought over $2 trillion of debt to stimulate the U.S. economy. While bullion has rallied 14% this year, the precious metal is still 24% below the current all-time high.
The metal, which traded at $1,462.50 an ounce at 12:57 p.m. in New York, will need to almost triple to make the call options profitable for its holder.
https://www.bloomberg.com//news/articles/2019-11-27/huge-bets-that-gold-could-triple-to-4-000-trade-in-new-york
This is just an option trade on paper however the holder had to put the capital down to execute this call (long-side bet). No physical will trade hands whether it goes up, down or treads water. The premiums are already fairly high @3.50/contract. This is because someone has to take the other side of this trade.
Going to lose money because of the time factor-this is independent of where the commodity trades. Time-slip equals loss.
THe better bet would be to avoid the CME options cesspool (which is heavily manipulated) and buy real metal.
Saucezzzz
https://www.bloomberg.com//news/articles/2019-11-27/huge-bets-that-gold-could-triple-to-4-000-trade-in-new-york
Mattis is a patriot…No one is perfect so realize this. He was fired just prior to hussein's second term starting. Many others as well.
Up to 2014
List Of Military Elite Purged And Fired Under Obama
https://rense.com/general96/listof.html
Some will disagree with that, but there is no harm in argument-unless it's just opinion based retorts as you've seen already. Have not read that book but enough of some others to believe he is in a role and is playing it Tough SOB imo
I could be wrong and if I am then so be it.
You don't get fired in that way, without so much as a phone-call from your superior, if you are on that team. Many questions to be answered..I look forward to having a complete factual picture. I have my belief and am good with it.
opinions are like assholes. Back it up with some thought instead of a statement and you would have something. Until then keep on yakking.
got 'em and working on those
you need to get over it. plenty of problems with all of it. Move it aside and just enjoy it for what it is.
They all tell stories, once you accept that every single one of them is comped (they did not become successful all on own merits) you can have decent music collection. Went through the same attitude you have so understand your perspective.
Music is actually better when you factor this in.
Beige Book Finds Expansion Remains "Modest"; Employers Bring Back Retirees To Fill Job Openings
One month after the Fed "modestly" downgraded its outlook on the US economy from "modest to moderate" growth to "slight to modest pace", there were no notable changes in the latest, just released November Beige Book, in which the Fed said that at the national level, economic activity expanded "modestly" from October through mid-November, similar to the pace of growth seen over the prior reporting period.
The good news for the US economy, which for the past two quarters was almost entirely driven by consumer spending is that most districts reported "stable to moderately growing consumer spending", and increases in auto sales and tourism were seen across several Districts, even if St Louis noted that "multiple auto dealers continued to note seeing an increased preference for used and low-end vehicles."
In welcome news for the US manufacturing recession, more Districts reported an expansion in the current period in manufacturing, than the previous one, even though the majority continued to experience no growth. Meanwhile, the picture for nonfinancial services remained quite positive, with most Districts reporting modest to moderate growth. Some more perspectives on the economy from sectors including:
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Transportation activity was rather mixed across Districts. Reports from the banking sector indicated continued but slightly slower growth in loan volumes.
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Home sales were mostly flat to up, and residential construction experienced more widespread growth compared to the prior report.
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Construction and leasing activity of nonresidential real estate continued to increase at a modest pace.
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Agricultural conditions were little changed overall, remaining strained by weather and low crop prices.
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Activity in the energy sector deteriorated modestly among reporting Districts. Outlooks generally remained positive, with some contacts expecting the current pace of growth to continue into next year.
While the economy was roughly unchanged over the past month, the Fed founds that employment continued to rise slightly overall, even as labor markets remained tight across the U.S. Several Districts noted relatively strong job gains in professional and technical services as well as healthcare, while reports were mixed for employment in manufacturing, with some Districts noting rising headcounts while others noted stable employment levels and one District reported layoffs. And while there were scattered reports of labor reductions in retail and wholesale trade, the prevailing complaint was one of continued labor shortages as the vast majority of Districts continued to note difficulty hiring driven by a lack of qualified applicants as the labor market remained very tight.
The shortage of workers spanned most industries and skill levels, and some contacts noted that their inability to fill vacancies was constraining business growth with multiple contacts reporting "bringing back retired workers as a way to fill openings." Moderate wage growth continued across most Districts, and the Fed said that wage pressures intensified for low-skill positions, even if reports from both the BLS and Umich shows that wage growth has now peaked and is moving lower.
rest at link
https://www.zerohedge.com/economics/beige-book-finds-expansion-remains-modest-employers-bring-back-retirees-fill-job-openings
There are many issues with how the FRB collects it's data, some of it is correct…much of it is not. You have to discern it the best you can
Wage growth dropping off is not a welcome sign. Bringing back retired workers is a sign of two things: needing experience and they know that a retired worker will accept less money.