A massive position worth approximately $14 billion was taken in April gold futures contracts on March 28, 2025, according to CME Group data confirmed by multiple sources.

The position, representing over 45,000 new contracts, appeared suddenly at the end of the trading month, a time when most speculators would typically have already rolled their positions forward to avoid physical delivery obligations.

“This looks like someone is intentionally positioning themselves to take delivery of a lot of physical gold and did it last minute,” noted X user Semper Vigilantes.

What makes this development particularly unusual is both the timing and scale — with each contract representing 100 ounces of gold at roughly $3,100 per ounce, this single-day position change represents demand for approximately 4.5 million ounces of physical gold.

TF Metals Report has called the event “extremely important and historic” if verified. The unusual positioning comes as global uncertainty has renewed interest in precious metals as a store of value. 

Analysts will be watching closely to see if the position holder(s) ultimately stand for delivery as the April contract enters its delivery window.

Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.