While the value of gold is a hotly debated topic, one thing is certain: gold is the most popular investment and trade option of all precious metals on the markets. Perhaps the most fundamental reason gold is so popular is because it is an ideal store of value assets. This implies that the value of gold is the exact same all over the world—after currency conversion.
|Gold Contract Specifications|
|Venue||CME Globex, CME ClearPort, Open Outcry (New York)|
|Trading Hours||CME Globex: Sun–Fri 5:00pm–4:15pm CT with a 45-minute break each day beginning at 4:15pm|
|CME ClearPort: Sun–Fri 5:00pm–4:15pm CT with a 45-minute break each day beginning at 4:15pm|
|Open Outcry: Mon–Fri 7:20am-12:30pm CT|
|Contract Size||100 troy ounces|
|Price Quotation||U.S. Dollars and Cents per troy ounce|
|Minimum Fluctuation||$0.10 per troy ounce|
|Termination of Trading||Trading terminates on the third last business day of the delivery month.|
|Listed Contracts||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 72-month period beginning with the current month.|
|Settlement Type||See Daily Gold Futures Settlement Procedures
See Final Gold Futures Settlement Procedures
|Delivery Period||Delivery may take place on any business day beginning on the first business day of the delivery month or any subsequent business day of the delivery month, but not later than the last business day of the current delivery month.|
|Trading at Settlement (TAS)||Trading at Settlement is allowed in the active contract month. The active contract months will be February, April, June, August and December. On any given date, TAS transactions will be allowed only in a single contract month. TAS transactions may be executed at the current day’s settlement price or at any valid price increment ten ticks higher or lower than the settlement price.|
|Grade and Quality Specifications||Gold delivered under this contract shall assay to a minimum of 995 fineness.|
|Exchange Rules||These contracts are listed with, and subject to, the rules and regulations of COMEX.|
Gold is highly valued because of its beauty, strength, density and rarity. It is unaffected by air, heat, moisture and most solvents. Gold is an important industrial commodity as it can conduct both heat and electricity. Gold is commonly used in jewelry, electronics, and reflective glass. Gold is mined on every continent except for Antarctica. Virtually all gold that has been mined throughout history is still existence in the world today because of its indestructibility. The Unites States is a top producer of gold, behind China and Australia respectively. Nevada, Alaska and California are the top producing states.
From 1792-1971, the United States had a bimetallic standard, meaning that all paper currency was backed up with its face value in gold. This ensured that a physical asset of value existed in conjunction with American currency. The price of gold continues to remain a bull market in the current climate, with record high prices in the past few years.
Last updated May 2013
Gold News Articles
- Gold futures cut into weekly losses (12/6/2013) - Gold futures were on the rise on Friday, representing a rare upward drive amid low confidence among gold bugs for bullion's prospects as the U.S. economy strengthens, according to Bloomberg.
- Gold futures hover near five-month lows (12/4/2013) - The U.S.' strengthening economy dragged down gold futures on Wednesday as the yellowish metal slumped to its lowest level in nearly five months, according to Bloomberg.
- Gold futures continue downward drive (11/21/2013) - Confidence about the U.S. Federal Reserve preparing to taper economy-spurring monetary stimulus measures pulled down gold futures on Thursday as silver futures tracked bullion's slump, according to Bloomberg.
- Gold futures hover as questions about stimulus persist (11/19/2013) - Reduced demand and questions about the status of economy-spurring stimulus measures in the U.S. prompted gold futures to ebb and flow on Tuesday, according to Bloomberg.
- Gold futures edge up after weak U.S. jobs data (11/14/2013) - Economic data about the labor market of the world's largest economy prompted gold futures to climb in value on Thursday, according to Bloomberg.
- Gold futures slip as U.S. economy strengthens (11/12/2013) - Indications about the growing strength of the U.S. economy prompted gold futures to lose value for a fourth consecutive trading session on Tuesday, according to Bloomberg.
- Gold futures likely to be impacted by Fed statement (10/30/2013) - Prospects of policy makers with the U.S. Federal Reserve pushing up tapering monetary stimulus to next year prompted gold futures to climb on Wednesday, according to Bloomberg.
- Gold futures advance as speculation mounts about stimulus continuing unchanged (10/24/2013) - Speculation about the U.S. Federal Reserve continuing economy-spurring monetary stimulus measures prompted gold futures to advance on Thursday while silver futures gained as well, according to Bloomberg.
- Gold futures dive after two strong trade sessions (10/18/2013) - Strengthening global equities helped pull down gold futures on Friday as the yellowish metal's demand as a safe haven slipped, according to Bloomberg.
- Gold futures benefit from weakened dollar (10/17/2013) - The weakened U.S. dollar propelled gold futures higher on Thursday as the yellowish metal achieved its largest advance in about one month, according to Bloomberg.
Gold Blog Posts
- Benefiting From a Dysfunctional Government With Gold! (10/9/2013) - Gold has been regarded as a safe-haven harbor against inflation, deflation, currency devaluation and times of fear and anxiety when traders flee from the stock market, treasuries and other assets. The Gold market will typically have an inverse relationship to the US Dollar in which the dollar can pressure the Gold as the US experiences... Read More.
- Update on August Gold (GCQ3 20 MIN) (7/10/2013) - This is a sample entry from Tom Dosdall’s email newsletter, Dosdall Daily Edge, published on Tuesday, July 09 This is an update to a previous trading recommendation here: New Trade in August Gold (GCQ3 20 MIN) Short entries should have been filled around mid-day but the market never fully got down into that “open highway”... Read More.
- The Gold & Silver Speculator (11 Apr 2013) (4/11/2013) - This is a sample entry from Kurt Pfafflin’s newsletter, The Gold & Silver Speculator, published on April 10, 2013. SELL GOLD, SELL GOLD! GOLDMAN SACHS SEES DOWNTURN IN GOLD CYCLE ACCELERATING, SLASHES PRICE ESTIMATES & RECOMMENDS INITIATING NEW SHORT COMEX POSITION. MEANWHILE, BANK OF JAPAN OPENS THE QE MONETARY FLOODGATES SETTING THE COURSE FOR UNPRECEDENTED... Read More.
- The Weekly Gold Digger (3/28/2013) - The June Gold is going through a short-term bearish cycle which is unusual with the monetary policies in place by the US, Bank of Japan and the European Central Bank. The Gold is stuck in a range still as it needs to penetrate $1620.00 to gain any traction. Traders and investors alike may be allocating... Read More.
- The Gold & Silver Speculator (22 Mar 2013) (3/22/2013) - CATASTROPHE IN CYPRUS: DESPERATE TIMES CALL FOR DESPERATE MEASURES. EURO TROIKA (IMF/EU/ECB) AIMS BAZOOKA SQUARELY AT BANK DEPOSITORS & FIRES: OUTRIGHT THEFT AND CONFISCATION OF PRIVATE PROPERTY…DISASTER JUST AHEAD? Greetings! Despite the strange, absurd sense of normalcy that has somehow prevailed this week, the world is witnessing a horrifying, slow-motion bank robbery in progress. With... Read More.
- The Gold & Silver Speculator (15 Mar 2013) (3/18/2013) - This is a sample entry from Kurt Pfafflin’s weekly market commentary newsletter, The Gold & Silver Speculator, published on March 15, 2013. CONSPIRACIES ABOUND? BEWARE THE IDES OF MARCH! On this day over 2050 years ago, the great Roman Emperor Julius Caesar was brutally assassinated – viciously stabbed to death by a conspiratorial group of... Read More.
- The Gold & Silver Speculator (08 Mar 2013) (3/8/2013) - This is a sample entry from Kurt Pfafflin’s weekly market commentary newsletter, The Gold & Silver Speculator, published on March 08, 2013. GOLD FOR SALE! SPIKE LOWER ON NFP SURPRISE UNCOVERS VALUE BUYERS LOOKING FOR BARGAIN PRICES. CAVEAT VENDITOR. The Gold & Silver Bears got everything they wanted and more this morning – a positive... Read More.
- Beyond the “Spotlight” (3/4/2013) - The Trade Spotlight advisory service applies the GBE trading methodology (buying or selling commodity contracts based on breakouts of chart formations and technical indicators) to identify one to two trade setups per week.
- The Gold & Silver Speculator (27 Feb 2013) (2/27/2013) - This is a sample entry from Kurt Pfafflin’s weekly market commentary newsletter, The Gold & Silver Speculator, published on February 27, 2013. REALITY BITES: BERNANKE TESTIFIES – FOMC WILL CONTINUE ASSET PURCHASES UNTIL FED OBSERVES A SUBSTANTIAL IMPROVEMENT IN THE OUTLOOK FOR THE LABOR MARKET IN A CONTEXT OF PRICE STABILITY. BENEFITS OUTWEIGH RISKS… The... Read More.
- The Gold & Silver Speculator (14 Feb 2013) (2/14/2013) - This is a sample entry from Kurt Pfafflin’s weekly market commentary newsletter, The Gold & Silver Speculator, published on February 14, 2013. WHERE IS THE LOVE? GOLD & SILVER BULLS SPILL BLOOD AS BEARS INFLICT FRESH DAMAGE AHEAD OF G20 WEEKEND MEETING IN MOSCOW. IS THE RECENT CONSOLIDATION PHASE GIVING WAY TO BIGGER BREAKDOWN? OR... Read More.