GOLD 0.51% $1,391.7 gold futures

gold, page-339

  1. 7,702 Posts.
    lightbulb Created with Sketch. 11
    I'm sure you're right...but feel this turbulence in commodities, currencies...in minutes...will not go un-noticed.....
    AUDUSD moved almost a penny in less than an hour.....
    We gold longs left licking our wounds....with such hi expectations for Friday - dashed.
    Doing the math....16,000 Gold contracts @4,500 / contract is "only" USD 72 million money down (in contracts - each gives possession of 100 ozs). That is NOT a lot of money.
    So, I figure, 16,000 contracts *100 ozs *$ 1270 = 2.032.000.000, Yep ....2 Billion (that cost them only 72 Million)
    $20 price move, by 100 ozs = $2,000 / contract = 32M profit? Not bad for 30 minutes work.
    So, the Fed? An investment Bank(s)? GS?
 
watchlist Created with Sketch. Add GOLD (COMEX) to my watchlist
 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.