In addition, the US Treasury and the International Monetary Fund auctioned a large amount of gold in new york after the Jamaican meeting. At that time, the domestic demand for gold in the United States continued to expand. Therefore, new york gold futures market became an important part of the world gold market shortly after its establishment.
The trading volume of gold and futures in new york is 65,438+000 ounces each, and the trading target is 99.5% colored gold. Mini gold futures, each transaction volume is 50 ounces, and the minimum fluctuation price is 0.25 USD/ounce.
New york gold trading often dominates the trend of world gold prices, and the actual physical delivery of gold accounts for a small proportion.
Large hedge funds and institutional investors are the main participants in new york gold trading, and their trading has great trading power on the gold market; The huge turnover has attracted many speculators to join, and the whole gold futures trading market has high market liquidity.
New york's gold and futures trading volume gap is the largest gold consumption market in the world. With the launch of the Shanghai Free Trade Zone Gold International Board, new york's gold and futures trading volume gap market has higher expectations for China's position in the international gold market.
There is a big gap between the trading volume of gold and futures in new york. The largest gold futures exchange in the world is Comex futures in the New York Mercantile Exchange. It started trading silver futures at 1963 and gold futures at 1974. Comex has always occupied a dominant position in global futures trading and played a very important role in precious metal pricing.
China's precious metal market didn't start until 2000, and China's gold futures trading only started in 2002.
There is a big gap between the trading volume of gold and futures in new york. At the beginning of China gold futures trading, the trading volume of Shanghai Gold Exchange (SGE) was almost insignificant compared with Comex. In the first week of SGE trading, only 398 kilograms of spot gold contracts were traded, while Comex traded 476 tons in the same period. But since then, gold trading in China has started to grow.
In the first two years of SGE, its turnover increased only slightly, and it didn't start to increase significantly until it added the derived Au(t+d) gold to the spot products.
There is a big gap between the trading volume of gold and futures in new york. Of course, there is still a big gap between SGE's gold and silver trading volume and Comex ratio. The average weekly turnover of Comex gold futures 20 13 is 2,822 tons of gold and 43,097 tons of silver.
Shanghai Futures Exchange (SHFE) started gold and silver futures trading in 2008 and 20 12.
There is a big gap in the trading volume of gold and futures in new york, but even if SGE and SHFE add up, there is still a big gap with Comex. However, China's silver trading volume has surpassed Comex's.
There is a big gap between the trading volume of gold and futures in new york. The gold international board of Shanghai Free Trade Zone is about to open, which is considered as a step of RMB internationalization. Although its gold trading volume may also be difficult to threaten Comex, this trend is worthy of attention.