What is the current gold futures contract?
Futures Overview
| Metals | Last | Chg |
|---|---|---|
| Gold Continuous Contract | $1,737.70 | -4.60 |
| Silver Continuous Contract | $19.110 | -0.126 |
| Copper Continuous Contract | $3.4300 | -0.0920 |
What is the futures symbol for gold?
GC
Metals Futures Symbols
| SYMBOL | FUTURE CONTRACT | EXCHANGE |
|---|---|---|
| GC | Gold | CMX |
| HG | Copper | CMX |
| PL | Platinum | NYM |
| SI | Silver | CMX |
Can you take delivery of gold futures?
Interactive Brokers offers trading on various COMEX precious metal futures and eligible clients can take physical delivery of COMEX silver or gold futures. Physical delivery is in the form of a registered warrant or automated certificate of exchange (ACE) for each full size or E-micro futures contract.
How are gold futures delivered?
Physical delivery via 100 troy ounce bars, or kilo bars, or 400 troy ounce bars. 400 troy ounce bars are deliverable via “Accumulated Certificates of Exchange” (ACE) certificates issued by the Clearing House.
How do you hedge gold futures?
You buy a kilo of gold for Rs 30 lakh and simultaneously sell a futures contract for around the same sum. Now assume if by May-end gold falls to Rs 29,000. Had you not hedged yourself, you would face an inventory loss of Rs 1,000 per 10 gm, and the price of jewellery too would reduce.
Are gold futures cash-settled?
While you can take physical delivery on a gold or silver futures contract, most futures contracts these days are closed prior to expiration or are cash-settled.
Can I take delivery of gold?
Additional Delivery Requirements Gold, platinum and palladium must be accompanied by a certification of assay and must be delivered to the depository by an exchange-approved carrier in order to maintain the chain of integrity.
Are gold futures cash settled?
The Gold/Silver Ratio Futures contract is a financially settled product that will provide new trading opportunities based on successful, highly liquid benchmark products.
Where can I hedge gold?
Where do companies hedge gold? Either on the over-the-counter market dominated by banks or on commodity exchanges like MCX. More recently, the BSE and NSE have launched gold derivatives. With time these would gain traction, stakeholders believe.
What happens when gold futures expire?
Upon expiration of the futures contract, the clearinghouse matches the holder of a long contract against the holder of a short position. The short position delivers the underlying asset to the long position.