Sentences with phrase «comex gold contract»
Meanwhile, hedge funds and money managers raised their net long position in COMEX gold contracts in the week to Jan. 30 to their highest level since late - September, U.S. Commodity Futures Trading Commission (CFTC) data showed on Friday.
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However, the ratio of gold standing for delivery — the process by which a futures contract can be settled for physical gold rather than cash — rose exponentially into early December and has since fallen significantly but remains at historically high levels: The standard COMEX response would be that the overwhelming majority of futures contracts are simply rolled over at expiration into a future month or settled in cash.
Since the failure of MF Global in 2011, COMEX gold open interest dropped from a peak of 650,000 contracts to a range of 370,000 to 450,000.
In COMEX gold futures which also experienced a record one - week amount of nearly 55,000 contracts being sold by so - called commercial traders, or the equivalent of 5.5 million ounces, that works out to 20 full days of world gold mine production (275,000 oz per day).
In just one reporting week, more managed money contracts were bought and more commercial contracts were sold in COMEX silver and gold futures than ever in the more than 30 year history of the COT report.
It is possible to conduct spot and futures contract trading on gold on the primary futures market: CME, COMEX, CBOT and NYMEX.
A broad cross-section of companies in the gold industry, from mining companies to fabricators of finished products, can use the COMEX Division gold futures and options contracts to hedge their price risk.