Global Gold Futures Market:
- U.S. gold futures market
The U.S. gold market is mainly composed of five exchanges: New York Mercantile Exchange (NYMEX), Chicago International Mercantile Exchange (IMM), Detroit, San Francisco and Buffalo. At present, the New York Mercantile Exchange (COMEX) and the Chicago Mercantile Exchange (IMM) are the world’s largest gold futures trading centers, and the two major exchanges have a great influence on the gold price in the gold spot market .
The varieties traded on COMEX are gold futures, mini futures, options and funds. Each COMEX gold futures trade volume is 100 ounces, and the underlying transaction is 99.5% fine gold. Mini gold futures, each with a volume of 50 ounces and a minimum price fluctuation of $0.25 per ounce. Gold trading on COMEX directly dominates the trend of global gold prices, but the actual delivery volume of gold is very small. Investors participating in comex gold futures trading are mainly large hedge funds and institutions. Their trading has generated great trading momentum for the gold market. The huge trading volume has attracted many speculators and effectively improved the liquidity of the COMEX market. sex.
- China’s gold futures market
China’s gold futures market is mainly composed of the Hong Kong gold futures market and the mainland gold futures market.
- Hong Kong gold futures market
The Hong Kong gold futures market is one of the three gold markets in Hong Kong and is a very formal gold futures market. Its nature is the same as that of gold futures on the New York and Chicago Mercantile Exchanges. The trading method is formal and the system is relatively sound, which complements other spot gold markets and gold and silver trading markets, but the trading volume is small.
- Mainland gold futures market
Gold futures trading in Mainland China mainly uses Shanghai Futures Exchange as the main body of transaction settlement services, and investors participate in gold futures trading through its members.
- Other gold futures markets:
- Tokyo Gold Futures Market
Tokyo Gold Futures was established in 1982 and is the only gold futures market officially approved by the Japanese government. The vast majority of members are Japanese companies. The gold market is priced in Japanese yen per gram, and the delivery standard gold fineness is 99.99%, and each transaction contract is 1000 grams. In 2007, a mini-gold futures contract was introduced.
- Singapore Gold Exchange
Since 1969, with the development of Singapore port trade, spot gold trading has gradually expanded. In order to meet the needs of the market, the Singapore Gold Exchange was established in November 1978. At present, it operates gold spot and 5 futures contracts in February, April, June, August and October. The standard gold is 99.99% pure gold of 100 ounces, with suspension restrictions, but the trading volume is small.