comex The Comex Gold Futures Market is probably the most appealing market worldwide. Since gold is a beauty, rare and almost indestructible metal it has a high price. People stores gold as day-to-day insurance and nations use it as an international exchange currency.

The COMEX division provides gold options and futures which are an alternative to the traditional investments such as coins, bullions or mining stocks.

Trading Months

Within a 23-month period – February, April, August, October; within a 60-month – June and December

Trading Hours (NY time)

Open outcry takes place between 8:20 AM and 1:30 PM. Electronic trading is between 2:00 PM to 8:00 AM from Mondays to Fridays. On Sundays the trading session starts at 07:00 PM and ends at 8:00 AM.

Price Fluctuation

$0.10 per troy ounce and $10.00 per contract.

Delivery Period

The last delivery day cannot pass the last business day of the delivery month while the first delivery day must be the first business day from the delivery month.

Delivery

Gold delivered must be from a licensed depository by the Exchange and must have an identifying stamp of a refiner approved and a serial number.

Maximum Daily Price Fluctuation

The initial price is 75.00 per ounce and the price limit can be expanded with an increment value of 100% if the limit is reached in the final half hour of trading.

Last Trading Day

Is the day when the business is closed – the maturing delivery month’s, third to last business day.

Grade and Quality Specifications

The seller must provide pure gold ( not less than .995 fineness) in bars (three one-kilogram bars or one bar). All the bars must have a serial number and the identifying stamp from the refiner.

EFP – Exchange of Futures for Physicals

The traders may exchange only equal quantity of physical or futures gold position.