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To: coloradan
I think they had around 4500 contracts and that's a little over 20 million ounces also mentioned.

As these contracts were, I'm sure, purchased on margin. They simply took the cash, having made a tidy sum for a relatively minor outlay. To have taken actual delivery, had that been the case (if they bought in at say $15 an ounce), they would have needed about 330 million dollars and a really BIG safe!

127 posted on 03/06/2011 9:04:10 PM PST by Errant
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To: Errant

You can’t stand for delivery on a contract purchased on margin. It needs to be fully paid for, in order to stand.


132 posted on 03/06/2011 9:36:36 PM PST by coloradan (The US has become a banana republic, except without the bananas - or the republic.)
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