April 01, 2020

Gold Market Update - CME and LBMA joint statement

LBMA and CME Group comment on healthy gold stocks in New York and London

CME Group and LBMA are reaching out to global market participants to ensure they have the latest information and resources, and will continue to coordinate efforts as market circumstances evolve. Together, both CME Group and LBMA are actively taking measures to ensure the continued efficient operation of global gold markets during this unprecedented time.

LBMA reports record gold stocks

Gold stocks in London remain healthy with the latest published numbers showing record stocks of 8,326 tonnes of gold, which is equivalent to 666,045 standard 400-ounce gold bars.

CME Group depositories open and gold stocks near record high

CME Group’s New York depositories are operating normally as they have been deemed essential businesses and deliveries are occurring as planned. As of March 30, 2020, our depositories currently hold 9.2 million ounces of gold (with 5.6 million ounces eligible), nearing a record high in terms of stock levels. Stock information is updated daily around 3:30 p.m. EST and can be found here.

New Gold (Enhanced Delivery) futures launching April 6

CME Group is introducing a physically-delivered gold contract with additional delivery and trading functionalities. This contract will enable delivery of 100-ounce, 400-ounce or 1-kilo bar sizes for maximum flexibility. The contract will also be enabled for inter-commodity spread trading against the GC benchmark gold futures contract, thereby giving existing GC traders efficient access to this new market. The Gold (Enhanced Delivery) futures FAQ can be viewed here and the Special Executive Report (SER) can be found here.