Gold and Silver mini

I want to trade Gold I think it 's on the move again. However I don't know which contract to trade ideally that would be the October contract because it's a long term trade (1month or more) and August first notice day is coming around the end of July, thus pretty soon and if I am in the August I'll have to rollover possibly with some problems and huge slippage . I don't know exactly when the rollover takes place and how to best rollover the position. I 've seen the front month 's spread widen to 2 dollars soon after first notice day, I am afraid if I don't rollover properly I would just end up losing a lot of money. As for the October contract it's not liquid enough yet, the spread is still 2 bucks.

Do you know teh exact date of the fist notice, I can't find it anywhere and when do you rollover?
 
thanks for asking this question, I have been wondering the same thing. is there anywhere a beginner can learn about the gold contract months and why they work differently from the financial futures?
 
Guys, question regarding YG (mini gold).
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Mini-sized New York Gold Futures

Trading Unit 33.2 fine troy oz.

Deliverable Grades
Each futures contract shall be for 33.2 fine troy ounces of gold, no less than 0.995 fine contained in no more than one bar. Variations in the quantity of the delivery unit shall not be in excess of 10% of 33.2 fine troy ounces. All gold must be certified as to fineness and weight by an Exchange approved refiner or assayer.

Tick Size
10-cent/fine troy oz. (or $3.32 per contract).

Price Quote
Dollars and cents/fine troy ounce.

Contract Months
Jan, Feb, Mar, Apr, May, Jun, Jul, Aug, Sep, Oct, Nov, and Dec.

Last Trading Day
On the business day immediately preceding the last two business days of the contract month. On the last day of trading in an expiring future, the closing time for such future shall be 1:30 pm, Chicago time.

Last Delivery Day
The last business day of the delivery month.

Trading Hours
Electronic Trading – 8:15 pm to 4:00 pm, Chicago time, Sunday – Friday.

Ticker Symbols
Electronic Trading- YG
and could not find info on the dollar value per tick/per point on YG.
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Tick Size - 10 cents per troy oz.
Alberto >I have noticed Interactive Brokers has a Gold Index (GC).
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Are these the guys who fix Gold in London?

So who is interactive brokers and why should we care?
what is it exactly?
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Gold, AU. It’s a pretty metal.
Spot?
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Futures
Calculated from futures? Else?
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Gold - Contract Specifications
· Symbol - GC
· Name - Gold
· Exchange - COMEX
· Trading Months - G,J,M,Q,V,Z
· Trading Unit - 100 Troy oz.

TROY OUNCE
A unit weight, equal to about 1.1 avoirdupois
ounces. The troy ounce is the traditional unit weight for
precious metals, believed to be named after a weight
used at the annual fair at Troyes in France in the Middle
Ages.
1 ounce troy = 480 grains = 31.04 grams
1,000 grams = 1 kilogram = 32.15 ounces troy
1,000 kilograms = 1 metric ton = 32,150 ounces troy
·
· Trading Hours - 8:20a.m. to 1:30p.m.
(NYMEX ACCESS 3:15p.m. - 8:00a.m. Mon-Thurs, 7:00p.m. - 8:00a.m. Sun)
· Tick Size - 10 cents per troy oz. ($10.00 per contract)
· Daily Limit - $75 per troy oz. ($7,500 per contract)
· Last Trading Day - Third last business day of the maturing delivery month.
· Value of one futures unit - $100
· Value of one options unit - $100

The normal Gold indices are XAU, HUI, GOX, JSE Gold, or TSX Gold.

I do not know what kind of games your broker is playing with you. Maybe you should fire your broker. Unless your broker is taking the other side of your trades, I do not think there is any index using the standard Gold GC symbol.

Maybe they are using Comex Gold contract as their index. That is the nice thing about beginners, they do not know when they are way off course. Who cares what a broker calls things. Ask them if they ever heard of slippage?

Gold is a specialized vehicle. The Normal web site for gold and related questions is Kitco
What do you know about lease rates?

If you are trading metals, you need to understand Lease Rates.
Kicking>7-17-03 08:27 AM However I don't know which contract to trade
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Kicking you pick Gold contracts based on how many people are playing in that month. Look at the Open interest. Will there be someone there to sell your contract to when you want to get out?

How long do you plan to hold the trade?

All of your decisions must stem from how long your personal trading cycle is.
ideally that would be the October contract because it's a long term trade (1month or more)
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One month is not long term in Gold.
and August first notice day is coming around the end of July, thus pretty soon and if I am in the August I'll have to rollover possibly with some problems and huge slippage.
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Open Interest and Volume tell you what months to buy.
Do you know teh exact date of the fist notice, I can't find it anywhere and when do you rollover?
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You can get all that stuff from links at a research house like Moore Research

Contract Months
Jan, Feb, Mar, Apr, May, Jun, Jul, Aug, Sep, Oct, Nov, and Dec.

Last Trading Day
On the business day immediately preceding the last two business days of the contract month. On the last day of trading in an expiring future, the closing time for such future shall be 1:30 pm, Chicago time.

See my other posts about Gold. These questions have been answered more thoroughly before. You would be better off trading one Comex contract that fooling yourself with minis and electronic trading. They are ways devised by the exchanges to get your money quicker.
vanilla2> is there anywhere a beginner can learn about the gold contract months and why they work differently from the financial futures?
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What makes you think Gold works any differently than any other futures contracts?
 
senor gold trade

and some of the other posters should really stick

to YG ( the mini ) or paper trading until they know

more about the metals futures etc
 
Quote from Kicking:
Liquidity is pretty good on the Gold mini
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Doesn't look like the front month contract even comes close to 1000 contracts a day. How liquid is it really in practice?
 
I added YG to my IB quotes page, but it always seems to be closed. For example, today, 7/21/03 at 7 PM, the August 2003 contract has a "last price" of C347.30, with no bids or offers. For the July 2003 contract, it says C347.20. I don't see any activity during the day either. Does anyone know why this might be?
 
do some research at the CBOT

website and nymex website

know the hours your contract is

open for trading

know the most active months

and when they rollover

:)
 
Of course I checked the CBOT web site first. It said that YG is supposed to now trade from 8:15 PM CST to 4 PM CST. I do not see that happening in TWS, and that is why I was asking.
 
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