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Precious Metals Futures
Metals Futures are traded on the NYMEX and NYSE-LIFFE Exchanges. Below are the main Metals Futures that are traded, The value of each Price Increment Point (PIP) can be calculated by multiplying the PIP by the Contract Multiplier. The profit or loss of each trade can be calculated by multiplying the number of pips gained or lost by the contract multiplier.
When placing a Metals Futures trade the broker will take some money from your cash account and set it aside in your margin account. For example if you were to use a gearing ratio of 1:40 the broker would take 2.5% of the value of the contract and put it into margin. The estimated margin of trading each metals contract is given below.
| Metals Futures | Symbol | PIP | Contract Multiplier | PIP Value | Approx Margin |
|---|---|---|---|---|---|
Gold |
GC | 0.10 |
100 Troy ounce | $10 USD |
$4500 USD |
| Mini Gold | YG | 0.10 |
33.2 Troy ounce | $3.32 USD |
$1500 USD |
| Silver | SI | 0.005 |
5000 Troy ounce | $25 USD |
$5500 USD |
| Mini Silver | YI | 0.001 |
1000 Troy ounce | $1 USD |
$1100 USD |
| Copper | HG | 0.0005 |
25,000 Lbs | $12.50 USD |
$6000 USD |
| Mini Copper | QC | 0.001 |
12,500 Lbs | $12.50 USD |
$3000 USD |
Mini Gold (YG) and Mini Silver (YI) are traded on the NYSE-LIFFE Exchange. All of the other Metals Futures are traded on the NYMEX exchange.
Disclaimer: This information is obtained from sources believed to be reliable. However, WorldCommodityExchange.com cannot guarantee its accuracy. Contract Specifications are subject to change. Margins are subject to change at any time, please consult your broker for additional information on current margin requirements and a suitable level of gearing.
Disclosure Statement
All markets have inherent risks. Futures and options markets are no different and involve substantial risk of loss and is not suitable for all investors. Investors may lose more than their initial investment. Past performance is not indicative of future results. Investors must employ suitable risk management strategies to ensure that they can preserve capital if they run into a series of losses.
