[PeterPrinciple]

October gold futures

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Note, no one is actually holding the gold. You are BETTING on a future price. It is speculation, not hedging.

If things go to crap, what are you actually holding?

As a hedge against catastrophe it is worthless.

[Presbyterian Reporter]

“””October gold futures
Note, no one is actually holding the gold. You are BETTING on a future price. It is speculation, not hedging.
If things go to crap, what are you actually holding?

As a hedge against catastrophe it is worthless.”””

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When those who bought the October gold futures today take delivery of their purchase at the end of October they will hold 100 oz bars of gold.

That is how the futures markets work.