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Bold Bets 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 Wednesday, 5,000 lots of 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 deriva
