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CONTACT INFORMATION

You can contact us by sending mail below or you can call toll free:

Phone: 800.840.5617
Phone: 312.920.0212
Fax: 312.920.0216


ADDRESS

United Futures Trading Company, Inc.
150 N. Michigan Ave.
Suite 1970
Chicago, IL 60601

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Gold and Silver Futures
Free Gold Futures Kit

Free $25 Gold and Silver Trading Kit

Trade Gold Futures - Trades as low as $1 plus exchange fees

Gold

Gold was first found and used by prehistoric man as a tool. The1st known use of gold was in parts of central and eastern Europe, in 4000BC. Highly worldly gold art commodities and jewelry dating back to around 3000BC have been discovered by archaeologists in the Sumerian Royal Tombs at Ur, in what is now The southern part of Iraq. The Egyptians used gold to embellish their kings in life and death and, by 1500BC, gold had become a standard medium of intercontinental trade. Similarly, goldsmiths of the Chavin civilization in South America were making ornaments by hammering and embossing gold by 1200 BC.

About 600BC, the Greeks began to use gold coins and minted their own money in order to conduct trade between states. The rarity and metallic properties of gold made it the ideal choice in the development of currency.

Currency has remained one of gold's first and foremost uses. It is considered so valuable that we measure all other values by it.
Gold will always be considered to be a safe form of financial security, many preferring to hold.

Gold Futures

 

Gold Specifications

Trading Unit

100 troy ounces.

Price Quotation

U.S. dollars and cents per troy ounce.

Trading Months for Gold

Trading is conducted for delivery during the current calendar month; the next 2 calendar months; any Feb, Apr, Aug, and Oct, falling within a 23-month period; and any Jun and Dec falling within a sixty-month period beginning with the current month.

Minimum Price Fluctuation

$0.10 (10¢) per troy ounce ($10.00 per contract).


Last Trading Day

Trading terminates at the close of business on the third to last business day of the maturing delivery month.

Position Accountability Levels and Limits

Any 1 mo. or all months: Six thousand net futures equivalent, but not to exceed three thousand in the spot month.

Delivery

Gold delivered against the futures contract must bear a serial number and identifying stamp of a refiner approved and listed by the Exchange. Delivery must be made from a depository licensed by the Exchange.

Maximum Daily Price Fluctuation

Initial price limit, based upon the preceding day's settlement price, is $75.00 per ounce. Two minutes after either of the two most active months trades at the limit, trades in all months of futures and options will cease for a fifteen-minute period. Trading will also cease if either of the two active months is bid at the upper limit or offered at the lower limit for two minutes without trading. Trading will not cease if the limit is reached during the final twenty minutes of a day's trading. If the limit is reached during the final half hour of trading, trading will resume no later than ten minutes before the normal closing time. When trading resumes after a cessation of trading, the price limits will be expanded by increments of one hundred percent.

Trading Hours (Eastern Standard Time)

Open outcry trading from 8:20 AM until 1:30 PM.

Delivery Period

The 1st delivery day is the 1st business day of the delivery month; the last delivery day is the last business day of the delivery month.

Exchange of Futures for Physicals (EFP)

The buyer or seller may exchange a futures position for a physical position of equal quantity. EFPs may be used to either initiate or liquidate a futures position.

Grade and Quality Specifications

In fulfillment of each contract, the seller must deliver 100 troy ounces (±5%) of refined gold, assaying not less than .995 fineness, cast either in one bar or in three one-kilogram bars, and bearing a serial number and identifying stamp of a refiner approved and listed by the Exchange. A list of approved refiners and assayers is available from the Exchange upon request.

Margin Requirements

Margins are required for open futures positions.

Trading Symbol

GC

Free Gold Futures Kit

Free Silver Futures Kit
History of Silver


Silver has been known by mankind since Prehistoric times, and its discovery is estimated to have happened shortly after the discovery of copper and gold. The oldest record associating the element appears in the book of Genesis. The Egyptians considered gold to be a perfect metal, and gave it the symbol of a circle. Since silver was the closest to gold in perfection, it was given the symbol of a half circle. Later this semi-circle led to a growing lunar symbol, probably due to the likeness between the shining metal and the moon glow. The Romans called silver argentum, keeping this as the intercontinental name of the element, from where its chemical symbol derives.

Just as gold, silver was considered by the Ancients as an almost sacred metal, of extremely restricted use. Its assent made it ideal for ornamental purposes. It was also used for paying debts, and religious places decoration and as utensils of the wealthiest houses.


Silver Futures
Silver Specifications



Trading Unit

5,000 troy ounces.

Price Quotation
U.S. cents per troy ounce.

Trading Months

Trading is conducted for delivery during the current calendar month; the next two calendar months; any Jan, March, May, and Sept falling within a 23-month period; and any Jul and Dec falling within a 60-month period beginning with the current month.

Trading Hours (All times are Eastern Standard time)
Open outcry trading is conducted from 8:25 AM until 1:25 PM.
After-hours electronic trading begins at 2:00 PM on Mondays through Fridays and concludes at 8:00 AM the following day, with the exception of Friday's session which concludes at 4:30 PM that same day. On Sundays, the session begins at 7:00 PM and concludes at 8:00 AM the following day.

Grade and Quality Specifications

In fulfillment of each contract, the seller must deliver 5,000 troy ounces (±6%) of refined silver, assaying not less than .999 fineness, in cast bars weighing 1,000 or 1,100 troy ounces each and bearing a serial number and identifying stamp of a refiner approved and listed by the Exchange. A list of approved refiners and assayers is available from the Exchange upon request.

Minimum Price Fluctuation

Price changes for outright transactions, including EFPs, are in multiples of one-half cent (0.5¢ or $0.005) per troy ounce, equivalent to $25.00 per contract. For straddle or spread transactions, as well as the determination of settlement prices, the price changes are registered in multiples of one-tenth of a cent (0.10¢ or $0.001) per troy ounce, equivalent to $5.00 per contract. A fluctuation of one cent (1¢ or $0.01) is equivalent to $50.00 per contract.

Maximum Daily Price Fluctuation

Initial price limit, based upon the preceding day's settlement price, is $1.50. Two minutes after either of the two most active months trades at the limit, trades in all months of futures and options will cease for a 15-minute period. Trading will also cease if either of the two active months is bid at the upper limit or offered at the lower limit for two minutes without trading. Trading will not cease if the limit is reached during the final 20 minutes of a day's trading. If the limit is reached during the final half hour of trading, trading will resume no later than 10 minutes before the normal closing time. When trading resumes after a cessation of trading, the price limits will be expanded by increments of 100%.

Last Trading Day

Trading terminates at the close of business on the 3rd to last business day of the maturing delivery month.

Delivery

Silver delivered against the futures contract must bear a serial number and identifying stamp of a refiner's officially listed brand. Delivery must be must be made from a warehouse or vault licensed or designated by the Exchange specifically for the storage of silver.

Delivery Period

The first delivery day is the 1st business day of the delivery month; the last delivery day is the last business day of the delivery month.

Position Accountability Levels and Limits


Any one month/all months: 6,000 net futures equivalent, but not to exceed 1,500 in the spot month.

Exchange of Futures for Physicals (EFP)

The buyer or seller may exchange a futures position for a physical position of equal quantity by submitting a notice to the Exchange. EFPs may be used to either initiate or liquidate a futures position.

Margin Requirements

Margins are required for open futures positions.

Trading Symbol

SI

Free SilverFutures Kit

*The risk of loss exists in futures trading. Past performance is not indicative of future results.