Huge Bets That Gold Could Triple to $4,000 Trade in New York
(Bloomberg) -- 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.
Löneinkomster tar större plats i den nationella ekonomin vilket innebär lägre marginaler för bolagen
USAs produktivitet sjunker och lönerna drar i väg. Powell trodde han skulle få en lång semester. Ner i källaren och sätt i gång tryckeriet
US Productivity unexpectedly posted the first decline in almost four years and labor costs accelerated in Q3, suggesting a pickup in efficiency earlier this year was more of a temporary shift.
Nonfarm business employee output per hour decreased at a 0.3% annualized rate in the third quarter, well below the expected rise of 0.9% and the first decline since December 2015.
Driving this decline was surging unit labor costs (+3.6%) following 2.4% in the prior period...
When gold prices rise, silver prices rise faster and the ratio declines. When gold prices fall, silver prices fall further, and the ratio rises. The ratio fell through support lines (see below) in early 2004, mid-2010, mid-2016, and September 2019. These were buy signals for gold and especially for silver.