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Perhaps no other market in the world has the universal appeal of the gold market. For centuries, gold has been coveted for its unique blend of rarity, beauty, and near indestructibility. Nations have embraced gold as a store of wealth and a medium of international exchange; individuals have sought to possess gold as insurance against the day-to-day uncertainties of paper money.
COMEX Division gold futures and options provide an important alternative to traditional means of investing in gold such as bullion, coins, and mining stocks.
Gold futures contracts are also valuable trading tools for commercial producers and users of the metal. Commercial concentrations of gold are found in widely distributed areas: in association with ores of copper and lead, in quartz veins, in the gravel of stream beds, and with pyrites (iron sulfide). Seawater contains astonishing quantities of gold, but its recovery is not economical.
The greatest early surge in gold refining followed the first voyage of Columbus.
From 1492 to 1600, Central and South America and the Caribbean islands contributed
significant quantities of gold to world commerce. Colombia, Peru, Ecuador,
Panama, and Hispaniola contributed 61% of the world's newfound gold during
the 17th century. In the 18th century, they supplied 80%. more... |
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Daily Chart - Spot Month |
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C=Last
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Margins |
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Non-Member Speculative Initial Margin Ratio |
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1.35 |
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Non-Member Speculative Initial |
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$5,500 |
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Non-Member Speculative Maintenance |
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$7,425 |
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Clearing Member/Member/Hedger Initial Margin Ratio |
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1.00 |
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Clearing Member/Member/Hedger Initial and Maintenance |
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$5,500 |
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