Comex gold price 2020
Comex gold price
Gold and futures contracts are a financial protection way against inflation, they are an alternative investment for the trader
Comex represents a highly organized exchange for the buying and selling of futures contracts and options for gold, was first founded in 1933 by four smaller exchanges based in New York: the National Metal Exchange, the Rubber Exchange of New York, the National R.Comex introduce 400,000 futures and options contracts every day.
What are gold futures contracts?
Precious metals futures are a legal agreement for the exchange of gold at an agreed price in the future.
of futures contracts is unified by quantity, quality, time and place,
Hedgers use these contracts as a way to avoid price risk on an expected physical metal
when actual metal is scheduled to be bought or sold.
Comex gold price
Gold reached nearly $2,000 an ounce in less than two years after it appeared in 2010 and
Many didn’t expect this Exceptional jump of the yellow metal that started its journey from $1,096.20.
prices is about $400 below its highest levels, but it has never fallen below $1,000 during this decade certainty demonstrating its price, financial and political risks affordability. Gold ended 2019 by Double-Digit Percentages earnings with an increase in gold spot trading up to16% and futures contracts up to14%.
Gold prices expectations is to remain high at the end of the year, targeting higher levels at $1,520 and $1,550 an ounce, but before that price is expected to decline slightly
Comex gold price is rising due to uncertainty about trade negotiations.
Despite all political events such as the signing of the U.S.-China trade agreement, experts consider this agreement as a first stage.