- COMEX & CME Group SCRAMBLE For Physical Gold With Brand New “Flexible” Delivery
“This time of unprecedented market conditions has led to growing demand for a broader range of delivery needs …”
(Silver Doctors Editors) Strange things are afoot at the COMEX. There’s a mad scramble to deliver any darn gold they can deliver into the market. In fact, whereas the contract size in the US has been 100 ounces for a gold futures contract, there will now be the “expanded flexible delivery” options of 400-ounce bars and kilo bars. From yesterday’s CME Group News Release:
CME Group to Launch New Gold Futures Contract with Expanded, Flexible Delivery in 100-ounce, 400-ounce or 1-kilo Bars
CHICAGO, March 24, 2020 /PRNewswire/ — CME Group, the world’s leading and most diverse derivatives marketplace, today announced the launch of a new gold futures contract with expanded delivery options that include 100-troy ounce, 400-troy ounce and 1-kilo gold bars. The new contract is expected to launch with a first expiration of April 2020, pending regulatory approval.
“This time of unprecedented market conditions has led to growing demand for a broader range of delivery needs for our clients worldwide,” said Derek Sammann, Senior Managing Director and Global Head of Commodity and Options Products, CME Group. “By offering a choice of delivery sizes as well as inter-commodity spreads with our benchmark gold futures, this new contract will provide customers with maximum flexibility in managing physical delivery.”