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The current price action suggests the direction of the December Comex gold futures contract into the close on Thursday will be determined by $2049.30.
To name a specific contract in a financial futures market, the month code will follow the contract code, and in turn be followed by the year. For example, CLZ3 is the December 2023 NYMEX crude oil contract. CL denotes crude oil (crude light), Z corresponds to the December delivery month, and 3 refers to 2023.
The IMM dates are the four quarterly dates of each year which certain money market and Foreign Exchange futures contracts and option contracts use as their scheduled maturity date or termination date. The dates are the third Wednesday of March, June, September and December (i.e., between the 15th and 21st, whichever such day is a Wednesday).
For example, in gold futures trading, the margin varies between 2% and 20% depending on the volatility of the spot market. [2] A stock future is a cash-settled futures contract on the value of a particular stock market index. Stock futures are one of the high risk trading instruments in the market.
The direction of the April Comex gold futures contract on Friday will likely be determined by trader reaction to $1331.10. Gold Price Futures (GC) Technical Analysis – Next Upside Target $1337. ...
Based on the early price action and the current price at $1511.40, the direction of the December Comex gold futures contract on Tuesday is likely to be determined by trader reaction to the ...
Trader reaction to $1854.80 will likely determine the direction of the June Comex gold futures contract into the close on Wednesday.
The resulting futures or forward curve would typically be downward sloping (i.e. "inverted"), since contracts for further dates would typically trade at even lower prices. [2] In practice, the expected future spot price is unknown, and the term "backwardation" may refer to "positive basis", which occurs when the current spot price exceeds the ...