Loading ...Open interest on the gold futures contract is 600k…on it’s into the millions…joining the SPX, SPY, QQQ, etc.
Hedge funds will never buy physical on mass if for no other reason (and there are others I won’t get into today) they can’t figure out how to store it. But they will be compelled to buy the paper for a trade. After all, gold is just a short term trade every few years when the status quo shows a few cracks (sarcasm).
Lets hope it’s different this time, and that the hedgies are punished for their ignorance.
Because if you can’t figure out how to store it call Sprott. He would be happy to help.
Best to get in early…no?
Not to mention paper contracts cannot and will not be honored when it hits the fan.
Check it out.
Cheers all