Gold Futures Quotes
The gold futures price is different than
the gold options price. Commodity and futures prices like gold prices are usually quoted the same way prices are quoted in
the cash market (physical market). That is, in dollars, cents, and sometimes fractions of a cent. Different commodities are
quoted in different trading units. Gold prices are quoted per ounce. Be certain you understand the price quotation system
for the particular commodity that you consider trading.
NYMEX gold futures contract is a contract for future physical delivery of
100 ounces of gold; however, the vast majority of the futures positions are offset well before delivery. The NYMEX gold futures
contract is priced in dollars and cents per troy ounce. The gold futures trade in $.10 increments, equivalent to $10.00
Example of Futures
826.3 means $826.30 per
Gold Options Quotes
The NYMEX gold options contract controls 100 ounces of gold based
on the underlying futures contract. The gold option strike prices are $10.00 per ounce apart for strike prices below $500,
$20.00 per ounce apart for strike prices between $500 and $1,000, $50.00 per ounce apart for strike prices above $1,000. For
the nearest six contract months, strike prices will be $5.00, $10.00, and $25.00 apart, respectively.
34.80 means $34.80
$34.80 X 100 ounces = $3,480
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