mini Gold and delivery

You need to look at the first notice day - not the last trading day. The first notice day is the first day that a buyer of a futures contract can be called upon to take delivery. The first notice day is often around 4 weeks before the last trading day.

For example mini-Gold June contract, first notice day is 30th May, last trading day is 26th June.


IB Rules:
For long positions not settled in cash, customer agrees to roll forward or close-out the position by offset three (3) business days prior to the exchange-specified first notice day (the long "Close-Out Deadline"). For short positions not settled in cash, customer agrees to roll forward or close-out the position by offset three (3) business days prior to the exchange-specified last trade day (the short "Close-Out Deadline"). It is Customer's responsibility to make itself aware of the "Close-out Deadline". If customer has not closed out any position in a futures contract not settled in cash by the "Close-Out Deadline", IB has the right to liquidate customer's position in the expiring contract.
 
Steve, Thanks for post. I should have known this but new to yg and zb. I soon figured out why I couldn't place the trade and it was stupid on my part by not having correct contracts up on TWS. Good lesson to be fully knowledgeable about all aspects of what I am trading. Thanks again Nas
 
for mini ZB ?

not much liquidity compared to ZB ... but at least it is less risk

by the way ... once in a while the YG contract goes out of line

but the arbs ... myself included bring it back to where it should be
 
Quote from Kicking:What are the limit up/down for Gold?
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Daily Limit - $75 per troy oz.
Quote from Kicking:How often do they occur?
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It only happens when you have two big of a position on the wrong side of the trade. Otherwise it won't happen!”
 
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Gold is retracing about 50% of its rally since the July 15 bottom. But Gold is the kind of market that only retraces if it reverses. I recently noticed in the COT report that Gold speculative long positions were recently at a multi year high then reversed, they were actually as high as before the 1996 meltdown . Commercial are net short (commercials seem to be always short during rallies) and at a multi year high too. Anybody cares to comment.

http://www.sharelynx.net/Markets/Charts/COTAU.htm
 
Commercials sell into rallies as they hedge or sell production, while small specs buy. Eventually, there are no more small specs to keep buying and support the market. Guess who always eventually wins that one....
Jessie
 
What I mean is I have been under the assumption that Gold was at the start of a bull market, the technical picture, the fall of the dollar and the worldwide race to devaluation, the geopolitical picture etc lots of things seem to make the case for Gold appreciation although I don't pay too much attention to fundamentals . But the COT is confusing the picture. Can a bull market start in these conditions?
 
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