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Trading Gold Spot Prices

About Trading Spot Gold prices


Derivatives, such as gold forwards, futures and options, currently trade on various exchanges around the world and over-the-counter (OTC) directly in the private market. In the U.S., gold futures are primarily traded on the New York Commodities Exchange (COMEX), a division of the New York Mercantile Exchange (NYMEX), and Chicago Board of Trade (CBOT). In November 2006, the National Commodity and Derivatives Exchange (NCDEX) in India introduced 100 gram gold futures

Firms in the UK, offer the ability to take a bet on the price of gold through what is known as a spread bet. Say the price of December gold was quoted at $475.10 to $476.10 per troy ounce. An investor who thought the price would go down would "sell" at $475.10. The minimum bet is $2 per point, (i.e. equivalent to 200 ounces). If the price of gold finished at $480.10 when the seller closed their bet, the loss would be 500 points multiplied by the bet of $2 making a loss of $1000 in total. No commissions or taxes are levied in the UK on spread betting.

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» Text - Thanks to Wikipedia

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