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Wednesday, 6th May 2009 (4272 views)

JPMorgan Chase and Goldman Sachs have been buying large quantities of gold call options, a commodity analyst has claimed.

Adrian Douglas stated that he had received confidential information that the banks were purchasing both June 2009 and December 2009 gold call options contracts, Numismaster reports.

In his analysis of the Comex June 2009 gold option contracts, Mr Douglas noted that gold option call contracts outnumber puts by over 80 per cent, while December call contracts are 130 per cent in excess of puts.

The US Mint is thought to have almost met demand for one-ounce gold Eagle coins and could soon start producing fractional gold Eagles and Buffaloes, minting of which has been suspended for over six months, the news source stated.

In other news, Bonhams noted a trend for "large gold pieces" during a sale in New York that included items by leading designers such as Van Cleef & Arpels and Oscar Heyman.

 

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