Who would post a bid or ask of 650+ gold fut contracts? And why?

It has always behooved me how for over 3,000 years people put such a value on Gold, has to be the color or status of owning piles of it. I would rather own 500 acre farm with animals and own only grocery store in 1,000 miles, people be bringing dump trucks of gold to get loaf of bread.... Value of anything I think is a lie, it is a way to reduce the masses from taking it, like a college degree, if anyone could apply to be a CPA, have 100,000 apps, whereas you place a filter of college, number reduces 95%.

I am thinking offsetting of Gold spreads, dumping one nearby side by one of the large hedge funds could do them.

http://www.barrons.com/articles/our-top-100-hedge-funds-1466222376

 

Thanks for sharing your story You are not from Rhodesia? Just wondered because you said about hoarding US dollars.

Britain was the First Nation to leave gold standard in 1930 and sterling is about to lose its value more when they eventually leave EU in 2017.

I look forward to your post on gold in 2017 too!
Happy new year and wish you prosperous 2017, xandman

 

Nope, nothing as...um...exotic or dramatic. Anyway, Enough about that for opsec reasons.

I would not be surprised if Western Europeans are hoarding dollars for fear of a Euro breakdown. Of course, reliance on their boorish cousins have always been difficult pill for the continentals to swallow.

I would be fascinated to hear accounts of Western Europeans stashing assets in dollars.

Take my calls with a grain of salt, just another opinion in a public forum from some dude posting his undershorts.

 

You're living in dreamland.

Fat chance of Western Europeans hoarding dollars.

You also exaggerate about Euro breakdown. By your wording, I'm guessing you're from the wrong side of the pond and so your grasp of European politics may be somewhat lacking.

 

Thanks for the response. I hope you are in Western Europe.

So, what do the most paranoid do to protect their future purchasing power?

 

650 GC contracts =~ $77m USD

A mining company or two? $77m is nothing to a $10bln company. There are probably several hundred of market participants trading this size every once in a while in GC.

 

It's not the notional that's odd it's the placement of all that liquidity at one price and to show the big single order instead of an "iceberg" or otherwise "working" the order.