re: [""good point, however that big number in gold is equal to
about 10,300 contracts. Volume in Feb 09 Gold today is 87,896"]
I think Sinclair answered that in his follow up email ...
"$25,000,000,000 of index commodity funds follow the index readjustments made herein."
Remember when Goldman "readjusted" the weighting of
gasoline in it's commodity index?
Have you noticed what FCX has been doing of late, re: the
increase in the copper weighting? Ditto the crude oil plays.
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"In financial terms, we expect the rebalancing to have the
greatest impact in gold, COMEX copper, crude oil, and live
cattle.
We estimate that the rebalancing of the two indices is expected
to result in $877 million of selling in gold, $699 million of
buying in COMEX copper, $528 million of selling in live cattle,
and $523 million of buying in crude oil."
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SOTB |
