CME resolving physical gold squeeze with 100-ounce, 400-ounce, and 1-kg bars

Section:

By Neils Christensen
Kitco News, Montreal
Tuesday, March 24, 2020

Increasing pressure from market players and significant liquidity issues in the gold market are prompting CME Group to make some changes in how it delivers its physical gold.

This evening the futures exchange 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.

... Dispatch continues below ...



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The new contract is expected to launch with the first expiration of April 2020, pending regulatory approval, the exchange said.

"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 in a press release:

https://www.cmegroup.com/media-room/press-releases/2020/3/24/cme_group_t...

"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," Sammann added.

The news comes after an intense trading day in the gold space as the market has seen strong physical demand and dwindling supply. ...

... For the remainder of the report:

https://www.kitco.com/news/2020-03-24/CME-resolving-physical-gold-squeez...

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