Sunday through Friday, gold futures trade from 6:00 p.m. U.S. ET to 5:00 p.m. U.S. ET, with a 60-minute break each day commencing at 5:00 p.m. U.S. ET.
When does the futures market start trading?
While the stock market in the United States begins at 9:30 a.m. EST and closes at 4:00 p.m. EST, index futures trade around the clock on systems such as Globex, a CME Group electronic trading system.
Forex Market Hours
Forex trading is open 24 hours a day, including most US holidays, from 5:00 p.m. ET on Sunday to 5:00 p.m. ET on Friday. Please be aware that illiquid market circumstances may exist, particularly at the start of the trading week. Based on market liquidity, these factors may result in greater spreads for particular currency pairs.
Spot Gold and Silver Market Hours
From 6 p.m. ET Sunday to 5 p.m. ET Friday, spot gold and silver trading is available 24 hours a day. Every day from 5 p.m. to 6 p.m. ET, trading is halted. CME holiday closures also affect spot gold and silver trading.
Holidays and market hours are subject to change. We will make every effort to keep this information current. Please be aware that some markets may experience periods of restricted liquidity throughout the holiday season.
When do gold futures begin trading on Sunday?
From 8:20 a.m. until 1:30 p.m., open outcry trading takes place. From 6:00 PM Sundays to 5:15 PM Fridays, Eastern Time, electronic trading is performed via the CME Globex trading platform, with a 45-minute pause each day between 5:15 PM and 6:00 PM.
Is the futures market now active?
Depending on the commodity, most futures contracts begin trading on Sunday at 6 p.m. Eastern time and close on Friday afternoon between 4:30 and 5 p.m. Eastern.
How do you interpret the future?
- Change: The difference between the current trading session’s closing price and the previous trading session’s closing price. This is frequently expressed as a monetary value (the price) as well as a percentage value.
- 52-Week High/Low: The contract’s highest and lowest prices in the last 52 weeks.
- Each futures contract has a unique name/code that describes what it is and when it will expire. Because there are several contracts traded throughout the year, all of which are set to expire, this is the case.
Is it lucrative to trade gold?
For thousands of years, gold has been a valued asset. Currency, jewelry, decorations, and (more recently) technology have all been used in the past. It’s reasonable to question if trading gold is profitable and if you can get rich doing it because of its high value as an asset and a metal with so many functional and aesthetic applications.
Gold trading can be lucrative, but it takes time, patience, and meticulous attention to detail. Many professional investors use it to diversify their portfolios and protect themselves against more volatile assets such as Bitcoin and some stocks. Gold prices are influenced by supply and demand, just like Bitcoin, which has a limit.
The following information will assist you in determining whether gold trading is right for you or whether you simply want it as part of a diverse investment portfolio.
Is gold traded around the clock?
Unlike other commodities, the international gold market is a global market that operates continuously 24 hours a day, allowing investors to trade gold anywhere in the world at any time.
WHAT MAKES GOLD A PRECIOUS METAL?
This is a classification of rare metals that have a higher economic worth than other metals. The five main precious metals are publicly traded on multiple exchanges, with gold being the most popular. Gold is commonly referred to as a precious metal.
It is referred to as monetary metals since it has been used as a currency in the past and is considered a store of value. Gold has an industrial component despite its small size because it is less reactive, an excellent conductor, highly malleable, and does not corrode.
WHAT IS SPOT GOLD?
The spot gold price is the price of gold that is available for immediate delivery. The spot price is usually often used as a foundation for bullion coin transactions. Because there is virtually always a location, the spot gold market is open approximately 24 hours a day.
There is a gold exchange somewhere in the world that is currently taking orders. The most active trading centers are New York, London, Sydney, Hong Kong, Tokyo, and Zurich. Whenever bullion traders are active in any of these cities, we’ll let you know.
This will be indicated on our website with the statement “Spot Market is Open.” The lowest bid and highest ask of the day are displayed for the high and low values.
GOLD PRICE – FUTURES MARKET
The gold futures market is one of several commodity futures markets in which contracts are made to purchase or sell gold at a specific price at a future date. Gold futures are used by both gold producers and market makers to trade gold.
As a mechanism for speculators to profit from market volatility, companies use derivatives to hedge their products against market swings.
A precious metals futures contract is a legally binding agreement for the delivery of a metal at a certain price in the future. A futures exchange standardizes the contracts in terms of quantity, quality, delivery time, and location. The only difference is the cost.
variable.
Hedgers utilize these contracts to manage their price risk on an upcoming physical metal acquisition or sale. They also allow speculators to participate in the markets by covering the exchange’s mandated margin.
There are two options for you to choose from: A long (buy) position entails the responsibility to accept actual metal delivery, whereas a short (sell) position entails the obligation to deliver. The vast majority of futures contracts are counter-balanced.
prior to the scheduled delivery date This can happen when an investor who has a long position sells it before the delivery notification.
SPOT GOLD PRICE VS GOLD FUTURES PRICE
The spot price of gold and the future price of gold are frequently different. The future price, which we also show on this page, is used for futures contracts and indicates the price that will be paid on the date of a future delivery of gold.
The spot price of gold is greater than the futures price in normal markets. The difference is determined by the number of days before the delivery contract’s expiration date, current interest rates, and the market’s demand for immediate physical delivery.
The forward rate is the difference between the current price and the future price given as an annual percentage rate.
CHANGE (CHANGE IN GOLD PRICE FROM PREVIOUS CLOSE)
This is the change in the metal’s price from the previous closing, which isn’t always the same day. On weekdays from 6:00 p.m. to midnight p.m., the previous closure is from the previous day. This is why: When the gold market closes for the day
On weekdays in New York, it is for a 60-minute period, from 5:00 p.m. to 6:00 p.m. The last quote at 5:00 p.m. is used to mark the end of the day. The difference between the present price and the price at 5:00pm is always referred to as change. Consider the following scenario:
At 5:00 p.m. on January 17, gold was last traded at $1,200. We’ll show a change of +2.00 if it’s January 17 at 6:30 p.m. and the price is $1,202. If it’s 5:00 p.m. on January 18th, and gold is quoted at $1,225, we’ll see a move of +25.00.
time.
GOLD FUTURES CHANGE (CHANGE FROM PREVIOUS CLOSE)
This is the difference between the metal’s price at the end of the previous trading session and the current price. Weekday closure hour is currently 2:00 p.m. Eastern Time.
HOW IS THE LIVE SPOT GOLD PRICE CALCULATED?
Every precious metals market has its own benchmark price, which is determined every day. Commercial contracts and producer agreements are the most common uses for these standards. These benchmarks are derived in part from spot trading activity.
market.
Trading activity on decentralized Over-The-Counter (OTC) exchanges determines the spot price. Because an OTC is not a formal exchange, prices are negotiated directly between participants, with the majority of transactions taking place electronically. Although
Although unregulated, financial institutions play a significant role as market makers in the spot market, giving a bid and ask price.
I’VE HEARD THAT GOLD TRADED 24/7 IS THAT TRUE? IS THERE AN OPEN AND A CLOSE?
Gold is traded 24 hours a day, seven days a week, from Sunday to Friday. The majority of OTC markets overlap; there is a one-hour interval between 5 p.m. and 6 p.m. eastern time when no market is open. Regardless of the one-hour deadline, because of the location
There are no official opening or closing prices because it is traded on OTC exchanges.
Most precious metals traders will utilize a benchmark price that is taken at specified times during the trading day for larger transactions.
WHAT DOES THE SPREAD MEAN FOR THE GOLD PRICE PER OUNCE TODAY?
The spread refers to the difference in price between the bid and ask prices. Because gold and silver are relatively liquid commodities, traders can expect a tight spread in these markets; nevertheless, other precious metals may have higher spreads, reflecting their lower liquidity.
a market that is less liquid
IS THERE A GOLD BENCHMARK?
Because gold and silver have no official closing or starting prices, market participants rely on benchmark values set by various groups at various times during the day. Fixtures are another name for these standards.
The LBMA, which is operated by ICE Benchmark Administration, determines the benchmark price twice daily in an electronic auction between participating banks with the LBMA.
GOLD FIXES
The London Gold Fix fixed the key gold benchmark price for nearly a century. A closed physical auction among bullion banks set the price. After the majority of buy orders and sell orders have been matched, a price is established.
These auctions would take place twice a day in London, England, once in the morning and once in the afternoon.
The London Gold Fix, however, was decommissioned in 2015, and the LBMA assumed responsibility for sustaining the process, launching the LBMA Gold Price in March of that year. The price matching process was changed from a physical auction to an open market.
Its members participate in an electronic auction.
At 10:30 a.m. and 3 p.m. London time, the standard is still set twice a day.
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The Bank of Nova Scotia – ScotiaMocatta, The Toronto Dominion Bank, and UBS are all part of the Bank of Nova Scotia.
SHANGHAI FIX
The Shanghai Gold Benchmark price was established in 2016 as a benchmark price system in China. The price is determined twice daily, in the same way that the London Gold Price is. It is, however, denominated in yuan (or renminbi)
rather than dollars from the United States A 1-kg contract is also used to calculate the price. The Shanghai Gold Exchange is where the benchmark is traded.
ARE THE GOLD PRICES PER OUNCE THE SAME AROUND THE GLOBE?
One troy ounce of gold is the same all over the world, and larger transactions are usually priced in US dollars because it is the most active market; nonetheless, the value of an ounce of gold can fluctuate depending on the value of a country’s currency.
Historically, currencies stronger than the US dollar have a lower gold price, whereas currencies weaker than the US dollar have a higher price. While gold is usually valued in ounces per US dollar, there are OTC markets in other currencies.
Other weight possibilities are available in some countries.
The Kitco Gold Index (KGX) is a unique feature that determines the relative value of one ounce of gold without taking into account the value of the US dollar index. The Kitco Gold Index is the price of gold expressed in Canadian dollars rather than US dollars.
Rather, the US Dollar Index is calculated using the same weighted basket of currencies.
WHAT IS OZ, GRAM, KILO, TOLA, (ETC.)?
Gold and most precious metals are priced in troy ounces, although gold is priced in grams, kilograms, and tonnes in nations that have adopted the metric system.
Tael is a Chinese weight measurement that isn’t as well-known as kilograms and grams. In South Asia, the tola is a unit of weight.
WHAT IS THE DIFFERENCE BETWEEN AN OUNCE AND A TROY OUNCE WHEN LOOKING AT A GOLD CHART?
A troy ounce is a unit of weight used in the weighing and pricing of precious metals that dates back to the Roman Empire when money was valued by weight. The method was carried over to the British Empire, where one pound sterling was equivalent to one pound sterling.
A troy pound is a unit of measurement for silver. In 1828, the United States Mint adopted the troy ounce standard.
By around 10%, a troy ounce weighs somewhat more than an imperial ounce. A troy ounce weighs 31.1 grams, while an imperial ounce weighs 28.35 grams.
WHY IS GOLD MOSTLY QUOTED IN U.S. DOLLARS?
While you can buy gold in any currency, it’s vital to remember that everything is ultimately determined by the value of the US dollar. Because the United States has the world’s largest economy and one of the most stable, the dollar has become a valuable asset.
The term “reserve currency” refers to a currency that is kept in large quantities by other governments and important institutions. International transactions are settled using reserve currencies. The US dollar has been the world’s reserve currency since the turn of the twentieth century.
The US dollar is the world’s most important reserve currency.
WHY ARE SILVER AND GOLD PRICES SO DIFFERENT?
The reason for the disparity in gold and silver prices boils down to one simple fact: scarcity. The higher the price, the less supply there is of a metal. As a result, gold prices are substantially higher than silver prices since gold is much more difficult to obtain. The reason behind this is
Silver’s supply is substantially larger since it is a simpler metal to mine and is frequently produced as a by-product of other metals mining. Gold is found in igneous rock with a concentration of 0.004 parts per million on average. At a rate of 0.07, silver appears.
PPM stands for parts per million.
WHAT IS THE PRICE OF THE GOLD AND SILVER RATIO?
The gold-to-silver ratio indicates how many ounces of silver are required to purchase one ounce of gold. If the ratio is 60 to 1, it means that 60 ounces of silver would be required to purchase one ounce of gold.
The ratio is used by investors to judge if a metal is undervalued or overpriced, and hence whether it is a good time to purchase or sell it.
When the ratio is high, silver is commonly assumed to be the preferred metal. When the ratio is low, the inverse is true, indicating that now is a good time to buy gold.
GOLD MINING
The technique of extracting gold from the ground is known as gold mining. Placer mining, panning, sluicing, dredging, hard rock mining, and by-product mining are all methods for extracting gold from the ground. Although it’s difficult to determine the exact cause,
Although there is no specific date for when gold mining began, certain evidence suggests it began at least 7000 years ago.
Currently, the world’s largest gold mining companies by market capitalization are Barrick Gold, Goldcorp, Newmont Mining, Newcrest Mining, and AngloGold Ashanti.
South Africa, Australia, China, Russia, the United States, Canada, Peru, and other countries are among the world’s leading gold producers.
WHAT IS THE WORLD GOLD COUNCIL?
The World Gold Council (commonly known as the WGC) is the gold industry’s market development body, responsible for driving demand, creating innovative uses for gold, and bringing new products to market. It was founded in 1987. The company is based in the United Kingdom.
Major gold mining firms are among the WGC’s members. Agnico Eagle, Barrick Gold, Goldcorp, China Gold, Kinross, Franco Nevada, Silver Wheaton, Yamana Gold, and others are among the current 17 members.
WHAT IS THE LBMA?
The London Bullion Market Group (LBMA), which is based in London, is an international trade association that represents precious metals markets such as gold, silver, platinum, and palladium. This isn’t a trade. It currently has 140 companies as members.
refiners, fabricators, merchants, and others The London Bullion Market Association (LBMA) is in charge of setting the benchmark pricing for gold, silver, and PGMs. The LBMA is also in charge of publishing the Good Delivery List for the refining industry.
is commonly regarded as the gold and silver bar industry’s gold and silver bar quality standard.
WHAT IS GLD?
GLD stands for SPDR Gold Shares, which is the world’s largest gold-backed exchange-traded fund. It is managed and marketed by State Street Global Advisors and has a market capitalization of more than $40 billion as of July 2016. It was first introduced in November of 2004.
The streetTRACKS Gold Shares are traded on the New York Stock Exchange. In May 2008, it was renamed SPDR Gold Shares, and it has been trading on the NYSE Arca since December 2007. It is also listed on the Hong Kong Stock Exchange and the Singapore Exchange.
The New York Stock Exchange and the Tokyo Stock Exchange are two of the most important stock exchanges in the world.
HOW DO CENTRAL BANKS INFLUENCE THE PRICE OF GOLD?
A central bank is a government-run institution that administers monetary policy and issues money in a certain country. It also provides financial and banking services to the government and commercial banking systems of its home country. As a result, a central bank can
If necessary, it can influence the amount of money supply in its country to help stimulate the economy. The Federal Reserve is the central bank of the United States, while the European Central Bank is the central bank of Europe (ECB). The Bank of Japan, the European Central Bank, and the Bank of England are among the other central banks.
To mention a few, the Bank of England, the People’s Bank of China, and the Deutsche Bundesbank in Germany. Central banks are also in charge of managing a country’s reserves, especially foreign-exchange reserves (which include foreign banknotes and foreign currency).
Bank deposits, foreign treasury bills, short and long-term foreign government securities, gold reserves, special drawing rights, and IMF reserve positions are all examples of financial assets.
WHAT MOVES THE GOLD MARKET?
While gold is one of the most valuable commodities, second only to crude oil, its price does not follow standard supply and demand fundamentals. Most commodity prices are decided by inventory levels and anticipated demand. Prices are rising.
Gold prices are influenced more by interest rates and currency changes when inventories are low and demand is high. Gold is viewed more as a currency than a commodity, according to many observers, because of its intrinsic value.
There are a variety of reasons why gold is referred to as a monetary metal. Gold has a strong negative relationship with the US currency and bond yields. Gold rises when the US currency falls along with interest rates. Sentiment is more important in gold than it is in ordinary markets.
fundamentals.
HOW DO INTEREST RATES MOVE THE PRICE OF GOLD?
Interest rates are the cost of borrowing money in its most basic form. Borrowing money in that country’s currency is cheaper the lower the interest rate. Economic growth is influenced by interest rates. For central bankers, interest rates are a critical instrument.
in the making of monetary policy decisions A central bank can reduce interest rates to boost the economy by allowing more individuals to borrow money, resulting in more investment and consumption. Low interest rates depreciate a country’s currency and cause inflation.
Bond yields are falling, which is good for gold prices.
WHAT IS QUANTITATIVE EASING?
Central bankers utilized quantitative easing as a monetary policy instrument in response to the financial crisis of 2008. The tool was first employed in Japan, but after former Federal Reserve chair Ben Bernanke used the term punned QE it became a commonly used word.
In the aftermath of the collapse of large investment bank Lehman Brothers, the concept was born in the United States. Bernanke bought bad debt from other major commercial banks in order to keep them from defaulting while also expanding the money supply. Since
Other central banks, notably the European Central Bank and the Bank of Japan, have since adopted this tool.
QE contains hazards, such as inflating the economy if too much money is created to buy assets, or failing if money provided by central bankers to commercial banks does not reach firms or the typical consumer.
WHAT IS A SAFE-HAVEN ASSET?
Gold has been regarded as a reservoir of wealth since ancient Egypt. Gold has historically performed well during moments of financial upheaval or economic distress, despite its volatility. A central bank will ease monetary policy to aid in the stabilization of an economy.
These actions, whether they are part of the government’s monetary policy or fiscal initiatives, can have an impact on a country’s currency and, as a result, stimulate domestic gold demand. When investors lose faith in their currency, they buy gold.
WHEN WAS GOLD FIRST USED AS A CURRENCY?
Gold has been used as a monetary metal and a store of value for a long time. Gold coins were originally produced on the order of King Croesus of Lydia, which is now part of Turkey, circa 550 BC, according to archeologists. The metal lumps were well-known.
referred to as electrum.
WHAT ARE THE MOST POPULAR GOLD COINS?
Every major mint produces gold bullion coins, which are particularly popular among investors who prefer to possess actual gold.
metal. While only government mints are permitted to make gold coins with a monetary face value, the face value is well worth the effort.
below the intrinsic worth of a coin Private mints, in addition to government mints, produce similar products.
Gold rounds are a type of product.
Only the South African Krugerrand gold coin, which has no face value and is worthless, is produced by a government mint.
The entire system is predicated on the global gold price.
WHEN IS THE GOLD PRICE THE STRONGEST?
Because gold is heavily influenced by sentiment, predicting the next significant surge can be tricky. Gold performs well in times of high uncertainty, fluctuating inflation, and currency debasement; but, there have been instances in the past where gold has performed poorly.
In the gold market, there have been high and low seasonal periods. September has historically been the best month for gold. During this time, many western jewelers begin to stockpile their gold supplies in preparation for the holiday season. The following month will be the most powerful.
January is generally a busy month for Eastern nations as they prepare for the Lunar New Year. March, April, and June have historically been the toughest months.
What is the best place to trade gold futures?
The COMEX segment of the New York Mercantile Exchange is where gold futures are traded (NYMEX). The normal contract size is 100 troy ounces, with 50 and 10 troy ounce contracts available as well. The delivery of gold to vaults in the New York area is specified by the exchange and is subject to modification. To trade gold futures, you’ll need a futures account that has been approved.