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LMEprecious Gold

LMEprecious headline image

The LMEprecious Gold Futures contract combines daily tradeable dates with monthly and quarterly trading dates. In this way, the system seamlessly blends the daily structure of the London over-the-counter (OTC) market, and the monthly futures approach of existing exchange offerings.

These contracts can be traded electronically via LMEselect, and through the 24-hour telephone market.

Contact us if you'd like to find out more about the new LMEprecious gold and silver contracts

Contract specifications

Name LME Gold
Contract code AU
Contract type Futures
Underlying material Loco London Fine Gold held in London and complying with standards relating to good delivery and fineness acceptable to the Precious Metal Clearer of the Clearing House for the purpose of effecting settlement with the Clearing House, as such standards are in effect from time to time
Lot size 100 fine troy ounces
Contract period Daily Dates tradeable from T+1 to T+25, Monthly Dates for at least 24 months (third Wednesday Prompt) and for a further twelve Calendar Quarterly Dates, as defined in the LME Rulebook
Price quotation US Dollars and cents per fine troy ounce
Clearable currencies US Dollars
Trading venues LMEselect Inter-office market
Trading hours 01:00 – 20:00 London time 24 hours
Minimum price fluctuation (tick size) $0.100 per fine troy ounce $0.001 per fine troy ounce
(Carries) $0.001 per fine troy ounce $0.001 per fine troy ounce
Termination of trading The last trading time for LMEprecious Gold Futures shall be 16:00 London time on the Last Trading Day. The Last Trading Day for LMEprecious Gold Futures shall be the Business Day which is one Business Day before the Prompt Date.
Daily settlement price The Closing Price is the Daily Settlement Price. Determined using a waterfall methodology, comprising VWAP of traded prices during the settlement window and/or other relevant data, where appropriate
Final settlement price Closing Price the Business Day before the Prompt Date
Settlement procedure All unallocated Precious Metal deliveries to LME Clear should be made to LME Clear's nominated Precious Metal Clearer, in accordance with the Settlement Instructions issued by LME Clear
Margining Realised Variation Margins applied

1Defined terms used in this contract specification shall have the meaning ascribed to them in the LME Rulebook or LME Clear Rulebook (as appropriate)