Wagers betting that gold prices will rally 141 per
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Wagers betting that gold prices will rally 141 percent in about two years were the most-traded option in New York bullion yesterday.
Call options giving owners the right to buy gold at $3,000 an ounce by December 2015 traded 7,250 contracts yesterday on the Comex in New York, more than double the amount of the next most-active option, data compiled by Bloomberg show. Futures for December delivery slumped 1.1 percent to $1,243.60 on the Comex in New York today. Prices reached a record $1,923.60 in September 2011.
Each option contract gives the right to buy 100 ounces of gold.
To contact the reporters on this story: Nikolaj Gammeltoft in New York at ngammeltoft@bloomberg.net ; Joe Richter in New York at jrichter1@bloomberg.net
To contact the editor responsible for this story: Millie Munshi at mmunshi@bloomberg.net
http://www.bloomberg.com/news/2013-11-21/gold...erday.html
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