Introduction to gold futures

Gold futures/

Introduction to gold futures

The global gold market is mainly distributed in Europe, Asia and North America. Europe is represented by London and Zurich gold markets; Asia is mainly represented by Hong Kong; North America is mainly represented by New York, Chicago and Winnipeg of Canada. The trading time of the world's major gold markets is based on London time, forming continuous gold trading in London, New York (Chicago) and Hong Kong.

The U.S. gold market was developed in the mid-1970s. The main reason is that after 1977, the U.S. dollar devalued and the U.S. developed for hedging and investment appreciation. The U.S. gold market consists of five exchanges, including the New York Mercantile Exchange (NYMEX), the Chicago International Commodity Exchange (IMM), Detroit, San Francisco and buffalo.

The U.S. gold market mainly deals in gold futures. At present, the New York gold market has become the largest and most active futures market in the world. The New York Mercantile Exchange (NYMEX) is the largest commodity exchange in the world and the earliest gold futures market in the world. According to the definition of the New York Mercantile Exchange, its futures trading is divided into NYMEX and Comex. NYMEX is responsible for energy, platinum and palladium trading, and Comex is responsible for the rest of the metals (including gold).

COMEX currently trades gold futures, mini futures, options and funds. COMEX gold futures trading volume of 100 ounces per transaction, trading target for 99.5% of the quality of gold. Mini gold futures, each transaction volume is 50 ounces, the minimum fluctuation price is US $0.25/oz. COMEX's gold trading can often lead the trend of global gold price, and the actual physical settlement of gold accounts for a small proportion. COMEX gold trading is dominated by large hedge funds and institutional investors, whose trading has great trading power on the gold market; the huge trading volume has attracted many speculators to join, and the whole gold futures trading market has high market liquidity.

[disclaimer] the publication of this article by finance managers for the purpose of transmitting more information does not mean that they agree with their views or confirm their descriptions. The content of this article is for reference only, and does not constitute an investment proposal. Investors operate on this basis at their own risk

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