The settlement day when dealing with gold futures is the day you decide to cash in on the current value of gold. The amount you make will depend on the value of gold on that day.
A futures broker acts as a liaison between the futures market and every-day investors, since investing in the futures market can require a great deal of paperwork and a physical visit to a trading pit. Futures brokers are licensed to buy, sell and trade on behalf of their clients, collecting a fee to do so.
Open Interest is the total number of outstanding contracts that are held by market participants at the end of the day. It can also be defined as the total number of futures contracts or option contracts that have not yet been exercised (squared off), expired, or fulfilled by delivery.
The simple answer: When the the futures contract price is higher than the expected spot price when the contract becomes due, or during the lifetime of the contract. When the contract becomes due, the price should be exactly or very close to the spot price (the price of the commodity right now) on the day that it is due. But more often than not, this is not the case. So there would be a decline in prices as the contract approaching the last trading day (or even last minutes of trading that day) as the 'future price' is then matched to meet the spot price. Non-perishable commodities such as oil or gold are typically contango, as it would cost money to insure, store, etc the underlying commodity. This would make the 'future' price of a contract 12 months from now greater than the spot price to buy the same barrel of oil today. Remember, one of the objectives of futures contracts is for suppliers to lock in a price to guarantee that they will have xx barrels of oil, gold, etc in the future at $yy.yy sales price today. Contango is just an adjective that describes the actual phenomena of the futures price falling to line up with the spot price as the contract approaches maturity. The opposite of contango is backwardation.
You should know the market price of gold for that day.
it changes every day
It is when you buy and sell gold. The thing about this is though, you don't have to pay in full up front or hand over the gold up front. On the settlement day is the exchange happens. This usually happens 3 months in the future.
Howard Abell has written: 'The Day Trader's Advantage' -- subject(s): Commodity futures, Futures, Financial futures
Gold prices vary a little bit from country to country. For example in the UK, the price is "fixed" twice a day in London. On Friday the fixing was at 1471. In the US Gold is traded on the COMEX, it closed Friday at 1463. There are also futures markets.
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With every boom comes a bust gold is a good commodity to buy and sell as over the past twenty years gold has held if not incresed in value it is also like every natural resource its quantity is not iffinite and one day you may be the only one left with gold
One can experiment with day trade futures on websites like FX Trade, BancDes Swiss, Economics Finance, Chris Dunn, Investopedia, Day Trading Adventure or HSW.
A futures broker acts as a liaison between the futures market and every-day investors, since investing in the futures market can require a great deal of paperwork and a physical visit to a trading pit. Futures brokers are licensed to buy, sell and trade on behalf of their clients, collecting a fee to do so.
It depends on what you mean by trading the futures contract. If you're a speculator who bought the thing in hopes of selling it for a profit before the settlement date (this happens all the time, and my opinion is it's stupid to do so--you're more likely to lose money speculating on futures than you are in making it) the minimum time is the time it takes for the price of the underlying commodity to go up enough that you'll make money on the deal. If you use the underlying commodity...well, let's just say you could buy a futures contract from one of the idiots in the last paragraph the day before the settlement date.
Gold is traded daily on the comex division of the new york merchantile exchange. Gold is traded in futures like other commodities such as silver, platinum and oil. However more gold is traded every day than there has ever been mined. This means that lots of people dont trust the paper-gold and buying bullions or gold coins at a price above the fix.
One can find out more about futures day trading from any brokerage office or brokerage section of a bank. Information about this is also available online on the Finance section of the Yahoo website.
carib settlement day is celebrated in november to december
Cotton futures are traded under the symbol CT on the New York Board of Trade. As with any type of stock the price can vary from day to day. E-Trade offers competitive prices per trade.