About Gold
From the very beginnings of human civilisation, gold has always been keenly sought after by mankind, primarily because of it’s unique property of being virtually indestructible, this prime property combined with it’s rarity, and it’s non tarnishing beautiful lustre, has enabled gold to become one of societies most treasured possessions as a store of value.
In more recent times nations have adopted gold as a store of wealth and as a medium of international exchange, also many individuals have sought to possess gold as hedge against the constantly ongoing current inflationary trend and their mistrust of paper money.Gold market futures, are directly correlated to the COMEX live spot gold prices (which are quoted in US dollars), which float freely in accordance with supply and demand, and correspond rapidly to the political and economic climate of the day. Notwithstanding because gold is such a vital industrial commodity, some investors have resorted to trading gold futures as a means to obtain a stake in the gold market, without the problems associated with owning and safely storing physical gold.
Gold Market Futures and Gold Option Future Trading Information
Gold future trading - Unit:
1 Unit = 100 Troy ounces
Gold future trading - Symbol:
GC
Gold trading price - Quotation:
USD $ per troy ounce.
Gold market futures - Margin Requirements:
Margins are required for open gold futures positions.
Gold future trading - Times:
Gold market futures open outcry trading is conducted from 8:20 AM until 1:30 PM. (New York time)
After-hours electronic trading begins at 2:00 PM on Mondays through Fridays and concludes at 8:00 AM the following day, with the exception of Friday’s session which concludes at 4:30 PM that same day. On Sundays, the session begins at 7:00 PM and concludes at 8:00 AM the following day.
Gold future - Delivery Months:
Gold market futures trading is conducted for delivery during the current calendar month; the next two calendar months; any February, April, August, and October falling within a 23-month period; and any June and December falling within a 60-month period beginning with the current month.
Gold futures trading - Minimum Price Fluctuation:
USD $0.10 (10¢) per troy ounce - USD ($10.00 per contract).
Gold futures trading - Maximum Daily Price Fluctuation:
Initial price limit, based upon the preceding day’s settlement price, is USD $75.00 per ounce. Two minutes after either of the two most active months trades at the limit, trades in all months of gold futures and options will cease for a 15-minute period.
Gold futures trading - Last Trading Day:
Trading terminates at the close of business on the third to last business day of the maturing delivery month.
Gold futures - Delivery:
Gold delivered against a gold futures contract must bear a serial number and identifying stamp of a refiner approved and listed by the Exchange. Delivery must be made from a gold depository licensed by the Exchange.
Gold futures - Delivery Period:
The first delivery day is the first business day of the delivery month; the last delivery day is the last business day of the delivery month.
Gold futures - EFP (Exchange of Futures for Physicals):
The buyer or seller may exchange a gold futures position for a physical position of equal quantity. EFPs may be used to either initiate or liquidate a gold futures position.
Gold futures surge for third day
Gold futures surge for third day, At 11:29am, COMEX gold for April delivery was $1.6 higher at $915.7 an ounce, after hitting a high of $916.4 earlier, Money Matters. Read more
Gold futures ends slightly higher after U.S. jobs data
Gold futures ended Friday slightly higher as investors in the precious metal looked past the worst job losses in 34 years and followed a broad rally in stocks on Wall Street. Read more
Gold Price Manipulation
In somewhat of a twist, I would call on all gold proponents and investors to study this evidence, as it pertains mainly to gold futures trading on the COMEX. Read more
Paper gold market will crash at Comex
Marc Gugerli: The majority of investors purchase Paper-(Gold)-Futures at the COMEX live spot gold prices. The sellers or counterparties of those Gold-Futures are just a few very dominant players. Read more
Mail this post
