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Apr 10, 2024 · COMEX contracts are financial agreements that allow investors to buy or sell commodities, such as gold, silver, copper, and other metals, at a predetermined price on a future date. These contracts are standardized, meaning they specify the quantity and quality of the commodity being traded, as well as the delivery terms and settlement procedures.
- What Is Comex?
- Understanding Comex
- Comex and Event Contracts
- Special Considerations
- The Bottom Line
COMEX is an abbreviation of The Commodity Exchange Inc. COMEX is the primary futures and options market for trading metals such as gold, silver, copper, and aluminum. COMEX merged with the New York Mercantile Exchange (NYMEX) in 1994 and became the platform responsible for its metals trading.In 2008, the CME Group purchased the NYMEX, including its...
Commodity Exchange Inc. (COMEX), the main exchange for silver and gold futures, was first founded in 1933 through the merger of four smaller exchanges based in New York—the National Metal Exchange, the Rubber Exchange of New York, the National Raw Silk Exchange, and the New York Hide Exchange. The merger between Commodity Exchange Inc. and the New ...
COMEX has outlined specific guidance on certain types of contracts. Each contract is associated with a strike price, and upon expiration, pays out a fixed settlement value based on the relationship between the daily settlement price of the underlying futures contract and the strike price. Strike prices are listed according to specified intervals, a...
It is important to note that the COMEX itself does not supply precious metals. These are made available by the seller as part of the contract rules. A short seller that does not have the metals to deliver must liquidate their position by the last trading day. A short that goes to delivery must have the metal, such as gold, in an approved depository...
COMEX, a division of the CME Group, is a leading platform for trading futures contracts on precious and base metals such as gold, silver, and copper. It facilitates price discovery, hedging, and speculation, influencing global metal markets while providing participants with opportunities to manage risk and seek profit through commodity trading.
- Will Kenton
People also ask
Does Comex sell gold?
How does Comex affect the precious metals market?
What metals are traded on COMEX?
How is a spot price different from a COMEX price?
It is different from a Comex price in that it is for the immediate delivery of gold, not a future delivery. The spot price is a function of demand for gold versus the supply available. The higher the demand, the higher the price goes, unless there is an unexpected increase in worldwide supply. Advertisement. Comex is a highly organized exchange ...
COMEX specializes in trading futures in metals like gold, silver, copper, aluminum, platinum, steel, and palladium. It essentially serves as a clearing house that trades these futures in standardized contract sizes as well as mini and/or micro versions. COMEX has the highest traded volumes of gold futures of the three global trading centers ...
Feb 8, 2024 · Here are some definitions you should know. Warrant: A document that gives you the right to buy or sell the gold or silver on the derivatives market. Eligible: The physical gold or silver is housed within the COMEX system but does not have a warrant. You can’t take delivery without a warrant. Registered: The physical gold is in the warehouse ...
Oct 29, 2023 · COMEX, short for Commodities Exchange, is a division of the New York Mercantile Exchange (NYMEX) and is responsible for trading precious and base metals futures contracts. It operates as a centralized marketplace where traders can buy and sell various commodities, predominantly gold and silver, but also copper and aluminum.
The spot price of metals like gold and silver is determined by trading on the COMEX exchange. While the exchange is key when it comes to price discovery and price risk hedging, it is not commonly used for actual physical deliveries. Should one wish to take delivery of metals from the COMEX, one needs to understand the process and expense ...
