You know, I've been following the market for a long time, and here's what's interesting: trading gold through futures is not the same as buying bars. When we talk about gold futures, we're referring to forward contracts where gold acts as the underlying asset. But the structure here is much more complex than it seems at first glance.

In such contracts, key parameters are always specified: margin requirements, delivery month, minimum price step, daily movement limits, and delivery method. To start trading, you need to open an account with a futures company. Profit or loss is generated from the difference in prices between entering and exiting the position. If you hold the contract until expiration, physical delivery of the asset will occur.

When it comes to the global market, one cannot fail to mention COMEX in New York—it's simply the king of gold futures. It is the largest and most liquid market in the world. They trade both standard contracts (100 ounces, 99.5% purity) and mini versions (50 ounces). The minimum tick size for mini contracts is $0.25 per ounce. An interesting point: the exchange itself does not participate in trading; it merely provides the platform, sets the rules, and monitors the fairness of transactions. The trading mode is almost 24 hours a day, except for weekends, with a break from 5:15 to 6:00 a.m. local time for settlements.

But here's what I've noticed: not everyone looks at Asian markets, and there are also interesting opportunities there. The Shanghai Futures Exchange offers its own gold futures with a contract size of 1 kilogram. They use leverage of about 7 times, with a minimum margin of 8% of the contract value. The minimum step is 0.02 yuan per gram. Plus, they support T+0 trading and two-way positions, dividing trading into daytime and nighttime sessions. Of course, during high volatility, they may introduce temporary adjustments to margin requirements—that's normal practice.