Our Gold products provide global price discovery and opportunities for portfolio diversification by presenting an alternative to gold bullion, coins, and mining stock investments. Gold also offers ongoing trading opportunities, as gold prices respond quickly to political and economic events.
Latest Metals news
Features and benefits
The world’s leading benchmark futures contract for gold trades the equivalent of nearly 27 million ounces daily.
Greater capital efficiency
Control a larger notional value for less money and reduce margin requirements >80% when trading metal contracts in one exchange.
Because contracts remain closely tied to the cash market, slippage costs are reduced.
Nearly 24-hour electronic access
Manage positions as global news and events that impact prices unfold.
Central clearing mitigates third-party credit risk in a CFTC-regulated market.
60/40 US tax treatment
Get certainty of blended 60% long-term, 40% short-term capital gains treatment.
Explore this product in depth
Calculate average cost-to-trade statistics for given lot sizes, or analyze current and historical bid-ask spreads, book depth and cost to trade statistics for CME Group products across three distinct global time zones.
Key reports and references
Financial crises and elections create financial uncertainty and in turn, impact demand for and the price of gold.
Released on the 1st Friday of month by the Bureau of Labor Statistics, this report indicates how many jobs the U.S. economy has added /lost in the last month. Non-Farm Payroll is also a key driver of Fed policy and an indicator of economic growth.
Monetary value of all finished goods and services produced within a country; broadly measures overall economic activity.
Released mid-month by the Bureau of Labor Statistics, the CPI measures inflation or cost-of-living changes, tracking the average price of a basket of goods and service, and is also a key driver of Fed policy.
The FOMC meets 8 times a year to set U.S. monetary policy and key interest rate changes; gold markets rise with rate cuts and vice versa.
This index measures the value of the US dollar relative to a basket of currencies for the US’s most significant trading partners.
These announcements affect the size/growth rate of a nation’s money supply, and in turn, interest rates; other important details can include key interest rate changes, the buying/selling of government bonds, and reserve requirements changes.
Published in the 2nd or 3rd week of the month by BLS, the PPI is a weighted index of prices measured at the wholesale or producer level. It shows trends within the wholesale markets, manufacturing industries and commodities markets.
Gold futures vs. other trading methods
- Trades equivalent of 27 million ounces/day - 30x SPDR Gold ETF at 0.8 million ounces/day.
- With GC futures, pay no management fees vs. an ETF that charges a fee on your position every day it’s held.
- Nearly 24-hour access enables you to act, not wait, as major events (Brexit, U.S. elections) unfold.
- Redeeming ETF holdings for physical gold can be complex and restricted to certain investors.
- Gold ETF investments are treated as a collectible subject to large capital gains tax, vs blended 60 long-term/40 short-term capital gains treatment for GC futures.
- ETFs can charge 50%+ margin, plus any broker financing fees.
- Exchange-traded futures’ standardized terms make Buying and selling positions easier.
- All market participants see the same transparent prices, not just the other counterparty.
- Futures offer substantially mitigated counterparty credit risk, with payment backed by the exchange.
- You can easily offset your futures position in a centralized, electronic market—unlike non-transferrable positions of forwards.
- Futures are regulated by CFTC oversight; trade settlement of forwards is dependent on counterparty.
Take self-guided courses on Gold futures and options products.
If you're new to futures, the courses below can help you quickly understand the Gold market and start trading.
Contact a Metals expert
Connect with a member of our expert Metals team for more information about our products.