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What are COMEX gold futures?

COMEX gold futures are contracts that specify the future delivery of gold for a preset price. These futures can be used to speculate on gold’s price or hedge against lower prices on gold you already own. The Commodity Exchange, Inc., or COMEX, is a division of the Chicago Mercantile Exchange.

How much is a COMEX gold contract worth?

You purchase futures contracts on margin and must keep a relatively small cash deposit in a brokerage account to serve as collateral. Each COMEX gold contract controls 100 troy ounces of at least 995 fineness gold. If gold is priced at $1,700 an ounce, a gold contract is valued at $170,000.

What is the price of silver on COMEX?

COMEX, being the largest commodity exchange market in the world accounts for a major chunk of silver traded globally, making it extremely important in the investment world. Silver rates fluctuate regularly, reflecting current trends in the market. The current price of silver on COMEX is $17.4 per ounce (as of April 28, 2016).

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