A gold futures contract has its own last trading day and delivery rules. Learn how closing, physical delivery and rolling differ, and what the calendar spread means when moving to another contract month.

For SHFE gold futures, one lot represents 1,000 grams and is quoted in yuan per gram. See how to convert the contract price into notional value, per-tick exposure and the exchange minimum margin.

Spot gold, gold futures and gold ETFs are all closely linked to gold prices, but investors hold different assets and face different trading mechanisms and costs. This article explains the key differences.

Au(T+D) is a spot deferred-settlement gold contract on the Shanghai Gold Exchange. T stands for Trading and D for Defer. This article explains its margin, daily settlement, deferred compensation fee and physical delivery mechanisms.

Silver often leaves beginners with the impression of being "inexpensive." Compared to gold, the quoted price of silver per gram or per kilogram is visibly lower, leading some to intuitively assume that capital fluctuations in silver futures must also be relatively mild. The issue is that while charting software displays the unit price, actual transactions involve an entire standardized contract.

Many people, when first introduced to "London Gold," assume that it is gold mined in London, stored in London, or issued uniformly by a specific exchange in London. In fact, "London" refers more to a quotation, delivery, and settlement system of the international gold market, and does not indicate where the gold was originally produced.