DislikedIf you want to create a reference of what percentage might be speculative, look at Oil. On a commercial level, oil perhaps goes from producer to broker to maybe one more broker to refinery. That's approx a max of 4 hand changes. Now look at the total consumption, multiply it by 4 and then compare it to the reported volume. I can't be bothered doing the research and calculations, but I will "speculate" that the traded volume will outnumber the actual physical trade by about 15 to 30. If you feel like calculating it, I would be interested in...Ignored
If you are saying that Oil market is speculative then i'm 100% with you...