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Seabridge Gold, Inc. Message Board

  • culibaly culibaly Nov 16, 2012 12:18 PM Flag

    77 tons of gold

    Yesterdays sharp drop of gold price was due to a single option trade with 25,000 contracts, thats 2.5 million ounces or 77 tons of gold or sum of the central banks gold holdings of the 4th largest country in the world Indonesia. (source tfmetalreports). Just one klick could move the equivalent of 77 tons of gold.

    To me it is obvious that at one point in the financial meltdown, the price of real gold will be unlocked from the paper traders. (options, unallocated gold ETFs etc)

 
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