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DiscountTrading.com is your source for futures Trading.
DiscountTrading.com is your source for futures Trading.
Below is a summary and basic information from the exchange for some of the popular commodities that fall under the metals sector.
Metals are usually classified as either precious or non-precious. Precious metals are rare and can be used in currencies or for industrial needs. The most common metals markets are gold, silver, platinum, palladium, aluminum, copper, lead, nickel, tin and zinc which can be traded on the New York Mercantile Exchange (NYMEX) and the London Metal Exchange (LME).
Of all the precious metals, gold is the most popular as an investment. Investors generally buy gold as a way of diversifying risk, especially through the use of futures contracts and derivatives. The gold market is subject to speculation and volatility as are other markets. Compared to other precious metals used for investment, gold has the most effective safe haven and hedging properties across a number of countries.
Arguably the most revered metal and volatile of all the metals contracts, gold has a long history of affecting cultures. Throughout history gold has often been seen as a symbol of wealth. Gold is a heavy hitter that moves other markets when it moves. Gold futures offer a far more liquid and efficient marketplace than the physical gold market for taking positions in gold. Central banks and the International Monetary Fund play an important role in the gold price, as do global events and the price of oil futures and the U.S. dollar. The Unites States is a top producer of gold, behind China and Australia respectively. Nevada, Alaska and California are the top producing states. Gold is the only metal that is yellow or "golden". Other metals may develop a yellowish color, but only after they have oxidized or reacted with other chemicals. Gold has many uses, aside from its monetary and symbolic value. Among other applications, it is used in electronics, electrical wiring, dentistry, electronics, medicine, radiation shielding, and to color glass. Although gold is a heavy, dense metal, it is generally considered non-toxic. Gold metal flakes may be eaten in foods or drinks. Compared to other metals, gold is less chemically reactive. Gold is a good conductor of electricity and heat. You probably already know that the carat (ct) is the unit used to denote the purity of gold alloys. The higher the number, the more pure the gold. 24 karat gold is pure elemental gold. 18 karat gold is 75% pure gold. 14 karat gold is 58.5% pure gold, and 10 karat gold is 41.7% pure gold. The remaining portion of the metal usually is silver, but may consist of other metals or a combination of metals, such as platinum, copper, palladium, zinc, nickel, iron, and cadmium.
100 troy ounces
$0.10 per troy ounce
Cents/ounce
Feb, Apr, Jun, Aug, Oct, Dec
Deliverable
Trading terminates on the third last business day of the delivery month.
Silver has had a rich history as one of the world’s most important metals for monetary exchange and for ornamentation purposes. Although no country today uses silver in a precious metal backed currency, demand for the product has stayed. Silver is a soft, ductile and malleable metal. Its thermal and electrical conductivity is the highest of all known metals. Silver futures typically follow the price of gold. As gold rises and falls, typically so do silver futures.
Silver often plays second fiddle to another precious metal, gold, but this element has special properties that deserve a good look. This highly valuable metal is slightly harder than gold and has the highest electrical conductivity of any of the metals. Silver is an even better electrical conductor than copper, but its high cost makes it less attractive for electrical wiring. Of all the metals, silver also has the highest thermal conductivity. It has the lowest level of contact resistance. Silver has been extracted from lead by civilians as early as 3000BC. Its uses have been mentioned as far back as the Bible, the book of Genesis. Silver played a big role in making early photography possible. Silver tarnishes quite readily in air or water which have hydrogen sulfide or ozone. Leave the good silver in a drawer between Christmases and it's likely to tarnish. Pure silver is too soft for products like jewelry and tableware, so the family's finest forks and knives are most likely sterling silver, an alloy of 92.5 percent silver and 7.5 percent copper. Unlike most other elements on the periodic table, the natural occurrence of each of silver's stable isotopes is nearly equal. Most silver is extracted from copper or lead ores. Mexico, Peru, and China are currently the world's top producers of silver. While silver futures are traded less commonly than gold futures, the market has played a significant role in affecting currencies and consistently moves in tandem with the rest of the metal futures markets. The majority of the commodity is mined in Latin America and consumption is spread all over the world. The global influence of silver futures makes the contract a large scale commodity.
5,000 troy ounces
$0.005 per troy ounce. Straddle or spread transactions and settlement prices: $0.001 per troy ounce.
Cents/ounce
Mar, May, Jul, Sep, Dec
Deliverable
Trading terminates on the third last business day of the delivery month.
Copper is a chemical element with symbol Cu and atomic number 29. It is a soft, malleable and ductile metal with very high thermal and electrical conductivity. Although copper is a non-precious metal, it is widely used as a commodity to conduct electricity. Most of the world’s electrical and communication infrastructure is dependent on the metal. Copper is the third most consumed metal in America behind iron and aluminum.
United States copper production largely comes from deposits in Arizona, Utah, New Mexico, Nevada and Montana. It is mined in large open pits and Chile and the U.S. have extensive reserves of copper that could be exhausted within the next 50 years. Copper is a mineral and an element essential to our everyday lives. Copper is found in the human liver, muscle and bones. Human body contains 1.4 to 2.1 mg of copper per kilogram of body mass. It is a major industrial metal because of its high ductility, malleability, thermal and electrical conductivity and resistance to corrosion. It is an essential nutrient in our daily diet. And, its antimicrobial property is becoming increasingly important to the prevention of infection. Copper is easily alloyed with other metals. Copper has a unique coloring among all the elements. It's instantly recognizable for its reddish metallic appearance. The only other non-silvery metal on the periodic table is gold, which has a yellowish color. The addition of copper to gold is how red gold or rose gold is made. Early local traders - and later, world travelers - depended on coins made of copper or its alloys. Today, nations around the globe still do. Until 1982, US penny was made from 95% copper and 5% zinc. However, now the composition is 97.5% zinc and 2.5% copper. The reason for the reversal is that the copper was worth more than the penny with the original composition. The best known copper structure in the world is the famed Statue of Liberty in New York City, United States. The greenish color of the statue is due to the formation of copper carbonate. Nearly 80% of the copper that has been mined to date is still in use. Copper is a 100% recyclable metal. It's an abundant metal in the Earth's crust.
25,000 pounds
$0.0005 per pound
Cents/Pound
Mar, May, Jul, Sep, Dec
Deliverable
Trading terminates on the third last business day of the delivery month.
Platinum is also increasingly being used by the jewelry industry as designers are taking advantage of its durability and luster to create striking pieces. Platinum is found in one-fifth of everything we use in our daily lives. It is no surprise, then, that platinum’s multiuse functionality has earned its increased importance in the futures markets over the past few years. Platinum futures can be used as a hedging tool for both producers and consumers of platinum alike.
Platinum, a highly valued and desired metal, has a wide range of uses, including jewelry, catalytic converters, electrical contacts, pacemakers, drugs and magnets. Platinum is rare, there are only about 5 parts per billion by weight in Earth's crust. Platinum is a silver/white metal and it was once known as "white gold." It is extremely resistant to tarnishing and corrosion. Platinum is one of the transition metals, a group that includes gold, silver, copper and titanium and most of the elements in the middle of the periodic table. The atomic structure of these metals means they can bond easily with other elements. Platinum is a rare element that is found in only a few places on Earth. Most platinum comes from South Africa, but it's also found in places like Canada and the state of Montana. The metal has to be mined from the ground, but there's a problem. Platinum is not found in big clumps like you might find a nugget of gold. Instead, platinum is usually found with other metals, so it has to be separated before it can be used. The mining and processing of Platinum is a long process which can take up to 6 months to complete. With the rarity of the metal in platinum containing ores, it is necessary to extract and process anywhere from 7 to 12 tons of ore to produce one ounce of pure Platinum. Platinum is used in significant amounts as compared to its availability. Platinum has an extremely high melting point of 2041.4 Kelvin and a boiling point of 4098 Kelvin.
50 troy ounces
$0.10 per troy ounce
Cents/Ounce
Jan, Apr, Jul, Oct
Deliverable
Trading terminates on the third last business day of the delivery month.
Palladium is a chemical element with symbol Pd and atomic number 46. This metal has unique chemical and physical qualities that make it vital industrial materials. Palladium is also used in electronics, dentistry, medicine, hydrogen purification, chemical applications, groundwater treatment and jewellery. Palladium plays a key role in the technology used for fuel cells, which combine hydrogen and oxygen to produce electricity, heat and water.
In the late 1800s, Palladium was more expensive than Platinum. The largest use of Palladium is for automobile catalytic converters. Palladium does not tarnish under normal conditions because it does not react with oxygen. Like the other platinum metals, palladium is quite rare. It also has a beautiful shiny finish. These properties make it desirable in making jewelry and art objects. As prices for gold and platinum have continued to rise, palladium has become increasingly attractive. Palladium is also used in electronics. Palladium is the least dense of any of the platinum group metals. Palladium is a soft, silver-white metal. It is both malleable and ductile. Malleable means capable of being hammered into thin sheets. Ductile means capable of being drawn into thin wires. The malleability of palladium is similar to that of gold. Russia and South Africa produce about 93 percent of the palladium mined in the world. It is also found in Canada and the United States. Palladium is removed from platinum ores after platinum and gold have been removed. Palladium is relatively biologically inactive, but can cause allergic reactions in some people. If you have a nickel allergy, you're at higher risk of irritation from palladium.
100 troy ounces
$0.05 per troy ounce
Cents/Ounce
Mar, Jun, Sep, Dec
Deliverable
Trading terminates on the third last business day of the delivery month.
